2025 Solar Incentives Guide for Minot, ND - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Minot.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Minot?
Renewable Energy Property Tax Exemption
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system
Otter Tail Power Company - Energy Efficiency Rebate Program
Air-Source Heat Pump: $400-$900/ton
Geothermal Heat Pump: $1,000/ton
Thermal Storage Heating and Cooling: $40/kW
Appliance Recycling: $50/item, capped to $100 per year
Electronically Commutated Motors: $100
Home Insulation: Up to $1,400
Smart Thermostat: $35-$150
Boiler/Furnace: $500/unit (9-20 kW), $25/kW (21+ kW)
Water Heaters: up to $400
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are intended to encourage people to make the switch to renewable energy by providing incentives that lower the financial burden of solar panel installation and use. Different kinds of incentives, like discounts, cash back or credit towards your monthly utility bill, might be available to you. Certain incentives may be handled by the state of North Dakota, by your utility company or by county or municipality, while other incentives are federal. Some solar incentives you might qualify for are:
- Rebates: Rebates, or partial refunds after a purchase, are normally given prior to any solar tax credits being calculated. Solar rebates may be given by your local utility company, by your state or by your county.
- Net Metering: You may be able to sign a net metering contract with your Minot utility company that will 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.
- Tax Exemptions: These might come in the form of property tax exemptions, which let you ignore the value added by your solar panels when paying taxes on your house. You could also look for exemptions on sales tax at the time of purchase.
- Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the federal government. (A tax credit is different from a tax deduction.)
Federal Solar Incentives
Federal incentives are the kind of incentives that you are most likely to have some knowledge of. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a predetermined percentage of your solar system's cost.
The ITC can be applied to the total cost of solar panel installation, including the panels themselves as well as equipment, accessories and labor. You can claim this credit for panels installed after January 1, 2006, on a primary or secondary residence that you own, as long as it is located in the United States. The tax credit ranges from 26-30% of total costs depending on when your project was completed. There is no maximum amount you can claim.
To best understand how the ITC will apply to you, call your local Minot solar panel installer and request more information.
The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. For solar system installations that begin after January 1, 2022, and are completed by the end of 2032, homeowners can receive a credit for 30% of the total cost. After 2033, the percentage will decrease annually until the Clean Energy Credit expires in 2035. Starting in 2023, it will also be easier to obtain credits for energy storage systems with the new act.
More information about the new Inflation Reduction Act can be found here. Your local Minot solar panel installation experts can answer your questions and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
Tax credits, rebates and more can be provided at multiple levels. On top of federal solar incentives, there are often state and local ones as well. Incentives may be handled by the state of North Dakota, or by your county or municipality. Some incentives may be available for only a limited time, while others are ongoing.
Next Steps for Installing Solar in Minot
The variety of solar incentives available has contributed greatly to the increase in the nationwide adoption of solar energy over the past 15 years. You may receive solar incentives from the North Dakota government, the federal government or your local utility company. We recommend talking to your local Minot solar installation expert for more information about these incentives and to ensure that you're getting the largest number possible for your solar system.
EcoWatch's Minot, ND Solar Incentives FAQs
How much will a solar system save me annually on my electric bill in Minot?
After adding solar panels to your Minot home, you can expect to save about $717.34 per year, or around $13,629.52 over 20 years.
Who installs solar panels near me?
To find the top solar panel installers near you, take a look at our article on Minot's top solar panel companies.
What are some environmental benefits of installing solar panels on my house?
Solar energy is a renewable energy source — by changing where you get your energy, you can help reduce the strain on our planet's resources. Solar panels can also lower the CO2 emissions from your home by 450 pounds yearly, or roughly 9,000 pounds in 20 years.
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 — for example, a combination of geothermal and solar. You can also combine renewable energy generation with a non-renewable backup source of energy. Be sure to discuss the details of your plan with your local Minot solar panel installer, so that you understand what you'll need and what types of incentives you may or may not qualify for.
What if I add solar panels to a vacation home, rental property or commercial property? Can I still qualify for incentives?
Many solar incentives apply to a property you own that is located within the United States; most secondary residences will fall under this distinction. There may be other solar incentives available for commercial properties, depending on the details. We recommend talking to your local solar installer and/or tax professional to better understand what incentives will apply to your specific situation.
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