Minnesota Incentives
The amount of available sunlight per day varies greatly from one region of North America to another. Regardless of your geographical location, 123SolarPower has a cost effective solar plan that will work for you. With renewable energy partners in every corner of the continent, 123SolarPower has regional professionals ready to help with your solar panel installation Minnesota.
With only 4.0 hours on average of sun, per square meter per day, in the north and 4.5 kilowatt hours for the same period in the south, Minnesota has more than 2.0 KWs less than states like Arizona. However the amount of sun received on average is still enough for solar power to be cost effective in this frigid state. With winter temperatures frequently well below 0 degrees Fahrenheit, utilities are motivated to offer incentives for many energy efficiency programs, such as insulation and renewable energy systems, which includes residential solar power. These are in addition to an available Federal tax credit of 30 percent through the Energy Policy Act of 2004. Did we mention the temperature doesn’t affect solar panels Minnesota. The panels still create electricity from light even when it is cold out.
The Renewable Portfolio Standard
Minnesota has a Renewable Portfolio Standard requiring most utility providers to produce 25% of their energy from renewable sources. Xcel Energy, a Minnesota based utility and a big advocate of renewable energy, has a greater RPS of 30% by 2020. Xcel Energy provides half the energy for Minnesota as well as electric power for several other states. In order to meet this standard utility providers will buy back power from residential solar panels MN.
Solar Rewards and Minnesota Made Programs
Xcel Energy maintains one of the many utility rebate programs in the state called the Solar Rewards Program. It pays the residential consumer a rebate of $2.25 per DC watt of installed solar power up to a maximum of $90,000, not to exceed 40Kw. Xcel’s customers must enter into a 20-year contract for all REC’s generated over the life of the contract. Because this is only one of the rebate programs offered by the states many providers of electric power, homeowners are advised to contact their own individual provider. Due to the fact that the Minnesota RPS affects all of the utility providers, they all offer various incentives for using solar panels MN.
In addition to the Solar Rewards Program, Minnesota is offering a Minnesota Made program. Through this program Xcel is offering an additional $2.75 per watt DC for systems assembled in Minnesota, creating a total incentive of $5.00 per watt DC. The rebates are paid over a five year period by Xcel. Xcel will in addition, purchase all excess generation through net metering system. Xcel understands the value of solar energy, and supporting the local economy. This is another reason now is the time to buy solar panels Minnesota.
To qualify, all existing homes, aside for those that are Energy Star certified, must undergo an energy audit. New homes must have an Xcel meter on site and have Xcel as the sole electricity provider. There is also a $250 application fee, refundable upon denial or withdrawal. At 123SolarPower Minnesota we have energy audit professionals available to help with this process as well.
Neighborhood Energy Connection Loans
Minnesota Neighborhood Energy Connection (NEC) offers homeowners and residential building owners, low-interest loans toward the installation of renewable energy systems. To qualify for an NEC loan, household income may not exceed $96,500 and residential buildings may not exceed the “fair market rent” level of $1,119 per month. These loans have an interest rate of 5.75 percent and range from one to 20 years at a repayment rate of $1000 annually. Loan amounts range from $2,000 to $60,000 with homeowner loans up to $35,000 for approved projects. All homes must receive an energy audit to qualify. DIY projects are acceptable, but those seeking a qualified contractor can seek assistance from a solar professional in our network.
Help For All Minnesota Residents
The many incentives for going solar in Minnesota are very encouraging but can also be overwhelming for the average person trying to follow all the guidelines and comply with the qualifying conditions. Fortunately, 123SolarPower has local trained professionals on staff to help interpret the regulations, while providing the best in photovoltaic equipment for your home. Take advantage of the many rebates and savings while simultaneously helping Minnesota to preserve the pristine land and lakes that define it. When it comes to solar panels for sale Minnesota can count on 123SolarPower. Fill out the online form, or call 800-294-2397 and a solar expert will help you begin looking for your perfect solar solution.
