Solar Savings Calculator for Minneapolis, MN
Homeowners in Minneapolis pay an average of $132/month for electricity through Xcel Energy. With 4 peak sun hours per day, solar panels can significantly reduce your energy costs.
$132
Avg Monthly Bill
15.8¢/kWh
Electricity Rate
4h/day
Peak Sun Hours
$40,549
Est. 25-Year Savings
Calculate Your Savings in Minneapolis
Adjust Your Details for Minneapolis, MN
$
$50$1,000
50010,000
5¢50¢
Your Estimated Solar Savings
System Size
7.2 kW
Panel Count
18 panels
Total System Cost
$20,880
Federal Tax Credit (30%)
-$6,264
Net Cost
$14,616
Annual Savings
$1,584
Payback Period
9.2 years
25-Year Savings
$40,549
Return on Investment
277%
* Estimates based on 4 peak sun hours/day in Minneapolis, MN, system cost of $2.9/watt, 30% federal ITC, 3% annual electricity inflation, and 0.5% annual panel degradation over 25 years. Actual results may vary.
Local Solar Details for Minneapolis
Utility & Permits
- Utility Company
- Xcel Energy
- Permit Cost
- $350
- Permit Timeline
- 3-5 weeks
- Net Metering
- full
System Estimates
- Recommended Size
- 7.2 kW
- Panel Count
- 18 panels
- Gross Cost
- $20,880
- Net Cost (after credits)
- $14,616
Available Incentives for Minneapolis, MN
Federal Solar Investment Tax Credit (ITC)
Reduces federal income tax liability by 30% of the total cost of a solar energy system, including equipment and installation.
Minnesota Solar*Rewards Program
Xcel Energy incentive program for residential solar installations.
Other Cities in Minnesota
More Solar Tools for Minneapolis
Minneapolis Solar IncentivesAll available tax credits and rebatesMinneapolis Cost ComparisonSolar vs. grid costs over 25 yearsMinneapolis System SizingHow many panels your home needsMinneapolis Permits & RegulationsLocal permit requirementsIs Solar Worth It in Minneapolis?Data-driven analysis for your cityMinneapolis Financing OptionsCompare loans, leases, and PPAs
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