2023 Solar Incentives Guide for Goodview, MN - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Goodview.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Goodview solar installers to see how much you can save.
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Updated September 15, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Goodview?
Xcel Energy - Solar*Rewards Program
Medium-sized Systems 25.1-500 kW: $0.0375/kWh
Large Systems (>500kW): Determined through competitive bid
Solar Energy Sales Tax Exemption
Wind and Solar-Electric (PV) Systems Exemption
Wind: 100% exemption from real and personal property taxes
Wind Energy Sales Tax Exemption
Xcel Energy (Electric and Gas) - Residential Energy Efficiency Rebate Program
Natural Gas Furnace Existing Home: $200-$400
Natural Gas Furnace New Construction: $100-$200
Natural Gas Hot Water Boiler: $100-$400
ECM Furnace: $100
Central AC: $150-$450
Tank Water Heater: $75-$500
Tankless Water Heater: $250
Attic/Wall Insulation: 30% of project cost
Air Sealing: $150-$200
Furnaces: $200-$425
Boilers: $125-$400
ECM Motor Furnace Fan: $125
Programmable Thermostat: $10
Heat Pumps: $175-$475
Water Heating: $100-$250
Clothes Washer: $10
Refrigerator: $15
Ground Source Heat Pump: $150/ton
Brainerd Public Utilities - Residential Energy Efficiency Rebate Program
Clothes Washer: $35
Electric Clothes Dryer: $35
Refrigerator: $35
Freezer: $35
Dehumidifier: $20
Room/Window A/C: $35
High Efficiency Electric Water Heater: $35
Central A/C Tune-Up: $35
Central A/C: $200-$350
Mini Split/Ductless A/C: $250
ECM Replacement Motor: $100
Furnaces: $200-$375
Heat Pump Water Heater: $250
Air Source Heat Pump: $250
Geothermal Heat Pump: $100/ton
Xcel Energy - Renewable Development Fund Grants
Connexus Energy - Residential Energy Efficiency Loan Program
OR
$20,000
Home Energy Loan Program
Fix-Up Loan
Renewable Energy Production Incentive
1.0¢/kWh for certain hydro facilities in need of repair
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" includes a range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Various types of incentives, including discounts, cash back or monthly utility bill credits, may be available to you. Certain incentives may be provided via the state of Minnesota, by your utility company or by county or municipality, while others are federal. Types of solar incentives might include:
- Rebates: Solar rebates can be offered by your county or state, or by your local utility company. These rebates are essentially partial refunds that are applied after you purchase solar panels and before tax credits are calculated.
- Tax Credits: Tax credits lower, dollar-for-dollar, how much income tax you owe the federal government. These are different from tax deductions.
- Tax Exemptions: These might come in the form of property tax exemptions, which would allow you to ignore the value of your solar system when paying property tax on your home. They may also include exemptions on sales tax at the time of purchase.
- Net Metering: You may be able to sign a net metering contract with your Goodview utility company, that may apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then deduct this value from your monthly utility bill.
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Federal Solar Incentives
Federal solar incentives are likely the first thing that comes to mind when you think about solar incentives. A federal incentive many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a specific percentage of your solar system's cost.
The ITC applies to solar systems installed after January 1, 2006 on a primary or secondary residence that you own in the United States. The credit initially covered 30% of the total cost — for panels, equipment, accessories and labor — although the percentage may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the claim amount.
Contacting your local Goodview solar panel installer is the best way to understand how the ITC could apply to you.
In August 2022, the ITC (now titled the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. Homeowners are now eligible for a credit equal to 30% of the total solar system installation costs for projects started after January 1, 2022 and completed before the end of 2032. The percentage will then decrease on a yearly basis until the Clean Energy Credit ends in 2035. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.
Click here to learn more about the new Inflation Reduction Act. To best understand how the new Clean Energy Credit applies to you, reach out to your local Goodview solar installation company.
State & Local Solar Incentives
There are more than just federal solar incentives; rebates, tax credits and more might also be offered at the local or state level. These incentives may be offered by your county or municipality, or by the Minnesota government. Some incentives may be ongoing, while others are available for a limited time.
Next Steps for Installing Solar in Goodview
The variety of available solar incentives has helped tremendously increase the adoption of solar energy nationwide over the past 15 years. You may receive solar incentives from the federal government, the Minnesota government or from your local utility company. Your local Goodview solar panel installation company can help you learn more about which incentives you might qualify for, and get you feeling good about making the change to renewable energy today.
EcoWatch's Goodview, MN Solar Incentives FAQs
My home already has solar panels installed. Are there any incentives that I qualify for?
You should plan to talk to the company that installed your solar panels — or speak to a local Goodview solar installer — to clarify which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
How much can I save on my electric bill annually if I add solar panels to my house in Goodview?
On average, homeowners in Goodview who install solar panels save approximately $1,007.46 per year, or approximately $19,141.81 over 20 years after making the switch.
When does the federal solar tax credit end?
The Clean Energy Credit (formerly called the federal solar tax credit, or the ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
If I switch my appliances out for ones that utilize solar energy, are there credits that I can claim?
The new Inflation Reduction Act provides multiple incentives meant to reward homeowners for making eco-friendly upgrades. Some incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.
Can I use solar and another type of renewable energy in combination to power my home?
Yes, you can use multiple types of renewable energy to power your home, such as a combination of solar and geothermal. You can also use both renewable energy sources and a non-renewable backup source of energy. Make sure that you discuss your plan with your local Goodview solar panel installer, to make sure you know what you'll need and what kinds of incentives you will or won't qualify for.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.