15 Best Solar Companies in Minneapolis, MN (2023 Reviews)

The Cost and Benefits of Solar in Minneapolis

When choosing a solar company, most homeowners or business owners wonder about the costs above all. There are a few factors you should take into consideration when trying to figure out the overall cost and how much you can save, including:

• Choice of solar panels: The type of solar panels you buy will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also save you more money over the lifetime of your system. If you don't need to maximize efficiency, you can opt for a higher number of more affordable panels.
• The cost of energy for you: If your local electricity rates are quite high, there's a good chance you'll get a higher return on your investment in a solar panel system. In Minneapolis, you can save an average of $119 a month on your electricity bills.
• Incentives: The federal solar investment tax credit currently allows you to lower your taxes by 30% of the project cost. Your state may also have incentives and rebates that you can take advantage of. Plus, you can save about $19,000 over 20 years on your utility bills, not including incentives.
• The amount of sunlight your area gets: Due to Minneapolis' relatively low amount of average daily sunlight, you might not see as many savings on your energy bills.

There are many wonderful benefits of solar in spite of the upfront cost of installation. It can help the Earth and your wallet. Additionally, it can increase the value of your home, resulting in even more benefits if you want to sell your home later.

Solar Incentives in Minneapolis

To increase the adoption of solar power, incentives are offered by the government — and even some utility companies — to help make going solar more economical and accessible. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will let you claim 30% of how much you paid for your solar installation on your tax return, reducing the amount of taxes you owe that year. In addition, there may be some local incentives you can benefit from too. Take a look at our article on solar incentives to learn what incentives you can benefit from.

Environmental Impact of Switching to Solar in Minneapolis

There are tons of reasons to make the switch to solar energy, like saving money on utility bills and helping to reduce your carbon footprint. Something many might have in mind is how much can they really help save the environment by switching to solar power anyway? The amount of energy you use is a key factor to think about. The more electricity your home uses, the greater your impact when you go solar. In fact, if you make the switch to solar power, you could reduce your carbon dioxide emissions by about 90 pounds each year. If you want to do what you can for the environment, you'll most likely get that there are many good things about adopting solar power other than just saving money on bills. You can also help protect the environment, which some would argue is worth more.