18 Best Solar Companies in Minnetonka, MN (Sep 2022 Review)

The Cost and Benefits of Solar in Minnetonka

Solar panels run off a free energy source — the sun — but before you can take advantage of this you first need to pay to set up your system. The cost of solar and the savings it generates vary depending on a few key factors such as:

• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, lets you deduct 30% of the cost of your solar system installation from your taxes. In addition, not including incentives, you can save about $18,000 over 20 years on your energy bills.
• average energy usage: The more power your household consumes on average and the higher your current power bills are, the more money you could save by switching to solar.
• Average daily sunlight: Since Minnetonka doesn't get a lot of average daily sunlight, your solar system may not be able to produce enough energy to power your whole home, which influences how much your solar panels can save you on your electricity bills.
• The type of solar panels you want: Higher-efficiency panels are more highly priced, so that will determine your budget for your solar project.

There are lots of good benefits of solar despite the initial cost of installation. It can help the environment and your finances. In addition, it can raise the value of your home, giving you even more benefits if you decide to sell your home later.

Solar Incentives in Minnetonka

Because solar power is a cleaner source of energy than fossil fuels, there are several government incentives in place to encourage people to make the switch. These incentives typically include cash rebates, tax breaks and/or solar renewable energy credits. They can reduce the cost of installing solar panels by 26 to 50% in some cases. The table below lists out the incentives you can benefit from in Minnetonka.

Environmental Impact of Switching to Solar in Minnetonka

Many want to do what they can for the planet, which in many cases is the chief motivation to install solar panels. Something many people might have in mind is how much can they really help protect the environment by switching to solar power anyway? In Minnetonka, where the energy generation produces a lot of greenhouse gasses, going solar can have a big effect on the Earth since solar power is a renewable source of energy. In Minnetonka, the average homeowner can lower their carbon footprint by 90 pounds a year once they go solar. For people who want to help the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.