Solar Panels Cost 2.6k-13k in Anoka, MN | October, 2024

Solar Panels Cost $2.6k-$13k in Anoka, MN | October, 2024

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How much do solar panels cost in Anoka, MN in 2024?

For the month of October, 2024, the price per watt of solar panels in Anoka, MN is $3.74/W, on average.

For every 1000 watts (1 kW) your solar system can generate, you will have to spend, on average, $3,740 for installation. We are able to come to this conclusion in accordance with this rate price cost per watt. A 5 kW solar panel install in Anoka will typically cost you $13,090 after applying the 30% federal tax credit. Your electricity use habits might need a bigger system.

To the left, you have the option to select your county and view the average roof size along with the average maximum capacity for solar panels in homes in your area. Outlined below are the costs, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Anoka: $13,090US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Anoka: 12 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Anoka: $2,329US Average: $15,784

Solar Potential in Anoka

Estimated system size and solar electricity production per median viable roof in
Anoka.

Roof size 697sq. ft.
Capacity 9.75kW DC
Electricity 10.9kkWh AC per yr.

Electricity Costs in Anoka, MN & What that Means for Your Solar Panel Pricing

For Anoka energy consumers, the average electric bill is $87.62 per month, with a usage of 525 kWh. Small residences, including duplexes, are also encompassed in the statistics cited in the previous sentence.

As of October 2024, the mean rate for electricity per kWh in Anoka, MN is 16.71¢.

If you’re a typical energy user in Anoka, you will need a solar system sized at 5 kW or more to meet your electricity needs. At the moment, a 5 kW solar panel installation is priced at $18,700, but with a 30% tax credit, it is reduced to $13,090

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Average solar panel costs by system size in Anoka

On the left and below, you can see the cost breakdown for different sizes of the solar panel systems set up in Anoka. A bigger solar array will expectedly cost more, but it will also yield more significant electricity savings and increased income tax credits.

Using the solar panel cost calculator situated below and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $87.62 in Anoka. To get results more personalized, change the $87.62 to match your average electricity bill.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $246 a year
Est. Price
$2,618
Savings from a 1kWthis system
  • Est. yearly production 1,449 kWh
  • Est. monthly savings $21
  • Full payback in 2 years
Environmental Impacts
  • Reduces CO2 emissions by 0.91 tons a year
  • Equivalent to planting 42 trees a year
  • Equivalent to driving 2,255 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $493 a year
Est. Price
$5,236
Savings from a 2kWthis system
  • Est. yearly production 2,897 kWh
  • Est. monthly savings $41
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.82 tons a year
  • Equivalent to planting 84 trees a year
  • Equivalent to driving 4,510 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $739 a year
Est. Price
$7,854
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $62
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 2.73 tons a year
  • Equivalent to planting 126 trees a year
  • Equivalent to driving 6,765 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $985 a year
Est. Price
$10,472
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $82
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.64 tons a year
  • Equivalent to planting 167 trees a year
  • Equivalent to driving 9,020 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,231 a year
Est. Price
$13,090
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $88
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.91 tons a year
  • Equivalent to planting 179 trees a year
  • Equivalent to driving 9,669 mi less a year

Anoka Solar Panel Installation Incentives & Rebates | 2024

For rural small businesses and agricultural enterprises, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Curious about your eligibility? Use our REAP Grant eligibility tool to check.

A 30% federal tax credit is offered to most homeowners for residential solar installations, which renders solar energy a feasible choice in various regions in the United States. In addition to the federal incentives, state and local programs also seek to boost solar energy uptake.

A number of utilities and governmental bodies in Minnesota provide 12 solar rebate and incentive programs.

Owatanna Public Utilities - Solar Rebate Program

Value:Up to $500

Commercial and residential customers of OPU, the municipal power utility for the city of Owatonna, may be entitled to rebates on solar PV systems and water heaters. Rebates add to existing federal tax incentives. New PV installations will yield a $500 rebate regardless of their rated capacity. Water heaters yield a rebate based on the area of the panels; the current rate is $15 per square foot. To qualify, systems should meet all city, state, and federal standards and be interconnected to the grid under a net metering contract. Interested customers should schedule an energy audit with an OPU participating solar contractor.

Minnesota Power - SolarSense Solar Rebate Program

Value:Up to $10,000

Minnesota Power customers may be entitled to rebates on new solar photovoltaic systems. To qualify, a system must meet all state and federal standards, be installed by a certified solar contractor, and be interconnected to the grid under a net metering contract. The incentive amount is determined through an NREL tool which considers the system's rated capacity and other design characteristics. Current rates are 56 cents/estimated kilowatt hour of production in the first year of the system's use. Minnesota Power must preapprove all incentives. Customers must therefore apply for the rebate before purchasing their system. Additional information is available from the website.

Value of Solar Tariff

Value:Varies

Net metering in Minnesota is set to be replaced by a Value of Solar (VOST) tariff program standardized by the Department of Commerce. No utility has implemented such a program as of 2021, though Xcel Energy is exploring retail-rate tariffs in a similar vein to VOST. VOST operates as an "inflow-outflow" program. Customers are technically billed for all electricity they generate, including excess generation (EG) sent to the grid. Rather than paying for all generated energy, however, they will only owe the cost of their "nettable energy" in that cycle. Nettable energy is equal to total power generated at the standard billed cost minus EG at a different "credit rate." As with net metering, should generation exceed consumption, the remaining credits will be applied to subsequent cycles. VOST contracts last for 20 years; credit rates are fixed for the length of the contract. "Virtual VOST" provisions exist to compensate microgrid subscribers in proportion.

Farm Opportunities Loan Program

Value:Varies

New sustainable farm equipment may be eligible for special financing through Minnesota's Farm Opportunity Loan Program. The program is administered by the state Rural Finance Authority in conjunction with various funding partners. Loans can cover up to 80% of purchase and installation costs. The RFA assumes responsibility for servicing 45% of the principal up to $45,000. Interest on the RFA portion is 3%; the remaining 55% will accrue interest at the current market rate. Additional information is available from the RFA website.

Community-Based Energy Development (C-BED) Tariff

Value:Varies

Utilities in Minnesota are required to participate in Community-Based Energy Development tariff programs (C-BED) to support the construction and onboarding of new renewable energy facilities, including solar and wind farms. C-BED contracts last for 20 years. During the term, the state will pay utilities at a fixed rate for the energy they produce. The underlying goal is for utilities to more easily recoup the costs for their renewable facilities. Additional information is available from the Minnesota Public Utilities Commission website.

Value-Added Stock Loan Participation Program

Value:Varies

The Minnesota Rural Finance Authority (RFA) operates a stock financing program to aid farmers in purchasing shares of nearby wind farms or biomass energy facilities. Loans are offered by private banking partners, though the RFA sets loan terms and low interest rates for up to 45% of the principal. Qualifying applicants must not be worth more than $450,000. Additional information is available from the RFA website.

Fix-Up Loan

Value:Varies

Minnesota homeowners making energy efficiency or accessibility improvements may be eligible for special loans from the state Housing Finance Agency (MHFA). "Fix-Up Loans" have a maximum of $15,000 in principal at market-rate interest. Applicants have direct access to MHFA lending partners and can negotiate loan terms. They may also use the contractors and builders of their choice. Lending partners differ between the 11-county Twin Cities area and the rest of the state. Additional information is available from the MHFA website.

Rural Minnesota Energy Board PACE Program

Value:Varies

The St. Paul Port Authority operates a PACE program in Duluth, Mankato, and certain Twin Cities suburbs and exurbs. Property owners will have access to an open market of local lenders offering competitive loans and terms for energy efficiency improvements. Effectively, funding comes from the government; repayment will therefore take the form of a tax lien senior to the property's mortgage. Residential structures are not eligible for PACE loans due to regulatory concerns from the FHFA. Fannie Mae and Freddie Mac are prohibited from acquiring a mortgage with an active PACE lien. Additional information is available from the Port Authority website.

Minnesota PACE Program (MinnPACE)

Value:Varies

The St. Paul Port Authority operates a PACE program in Duluth, Mankato, and certain Twin Cities suburbs and exurbs. Property owners will have access to an open market of local lenders offering competitive loans and terms for energy efficiency improvements. Effectively, funding comes from the government; repayment will therefore take the form of a tax lien senior to the property's mortgage. Residential structures are not eligible for PACE loans due to regulatory concerns from the FHFA. Fannie Mae and Freddie Mac are prohibited from acquiring a mortgage with an active PACE lien. Additional information is available from the Port Authority website.

Interconnection Standards

Value:Varies

Distributed generation and interconnection practices are standardized by the Minnesota Public Utilities Commission. Standards were last updated in 2019 and continue to be amended regularly. Unlike states which use tiers and levels to organize energy systems, Minnesota uses permit processes as benchmarks. Systems at a qualifying capacity level may be eligible for a "Fast Track" permit review. All systems must follow recognized standards such as those set by IEEE or UL. Customers may be required by their utility to carry liability insurance coverage or install additional safety features.

Renewable Development Fund (RDF)

Value:Varies

Xcel Energy has administered a Renewable Development Fund since 1999. The fund's annual budget amounts to $9 million, the result of a state-set rate per nuclear waste reservoir at the Prairie Island, Minnesota plant. Additional funding comes from a surcharge on Xcel customer bills in Minnesota and western Wisconsin. Funding supports incentive programs and other initiatives to adopt renewable energy. The University of Minnesota's Institute for the Environment also taps into the fund for its own research. Additional information is available from the Xcel website.

Xcel Energy - Solar*Rewards Program

Value:Varies

Solar*Rewards is the formal name for Xcel Energy's net metering and distributed generation tariff incentive programs nationwide. Under Minnesota law, renewable energy customers hold ownership of renewable energy credits (RECs) they generate. With a Solar*Rewards contract, the customer agrees to sell all RECs to the utility for a fixed amount of time and have a bidirectional meter installed on their system to track energy sent back to the grid. In exchange, the utility will provide fair compensation for both excess generation and credits accrued. To qualify for incentives, a new PV system must pass an engineering audit and not exceed 20 kW of DC capacity. Leased systems do not qualify for Solar*Rewards contracts. Additional information is available from the Xcel website.

Are solar panels worth it in Minnesota?

If you're expecting to live in your home past the solar system's payback period, solar panels are a smart decision in Anoka. A 5 kW solar system in Anoka, MN could potentially save you $7,938.8 over the course of 20 years, with the break even point typically at 12 years.

The cost of not having solar panels in Anoka, MN

The absence of solar panels or an alternative energy backup means that you forgo the savings noted earlier and are wholly reliant on your electric utility for electricity. The news has recently pointed out that full reliance on your utility is not always ideal.

Annually, the average number of outages per customer in Anoka is about 0.31. Usually, outages have an average duration of 35.57 minutes. However, during critical events like equipment failure, landslides or planned maintenance, these times can extend dramatically.

Installing a solar panel system, irrespective of whether it has a backup battery, could reduce the pressure of future outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Anoka County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Anoka, MN?

Your Energy Needs - While the upfront cost is higher, the price per watt declines with larger solar panel systems. Numerous people find it useful to set up a solar energy system that can replace their entire electric bill. This leads to maximum savings.

Make & Model - Like many other products, there are various makes and models of solar panels available. The installer you select may have specific system preferences, so it's crucial to pick a reputable contractor. Buyers who choose better equipment typically enjoy a better long-term experience.

Solar Panel Type - There's a good reason why monocrystalline panels are now the industry standard. These panels are more costly, yet they generate more energy. The majority of installers usually utilize panels crafted of this material.

Your Property - Every property and home is distinct. Trees, uneven ground, or additional challenges can make the installation more difficult. Many solar installers now are able to utilize satellite imagery to assess your home and factor in these elements in the first cost estimate.

Labor Rates - The wages that companies pay their employees are different, and these expenses are ultimately passed on in consumer prices. It is frequent for businesses that offer higher wages to get better reviews for their services and customer service.

Permitting & Interconnection - Your installation cost will be impacted by area-specific permitting and utility interconnection fees. Reliable installers will factor these costs into your preliminary quotes to prevent unexpected expenses.

See what solar panels cost in other MN cities

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Who are the best solar installers in Anoka?

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Auditing of energy requirements for independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Solar Farm

St. Paul, MN(651) 271-8410

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

Sundial Energy

St. Louis Park, MN(612) 439-9591

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

LightEdison

Denver, CO(888) 966-6377

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Anoka, MN Solar Panel Cost FAQs

  • The average solar panel cost in Anoka, MN as of October, 2024 is estimated at $3.74/W. The approximate cost of a 5 kW solar panel system in Anoka, MN, after deducting federal tax credits, is $13,090.

  • Residents of Minnesota can currently take advantage of 12 rebates and incentives offered by various utilities and government bodies. Moreover, the 30% federal tax credit is accessible to nearly everyone.

  • Although cash payments provide the greatest savings, many financing options for solar panels now exist that are also cost-effective. Installers will often include details on financing partners in the quotes they provide initially.

  • Yes, the payback period for 5 kW solar energy systems in Anoka, MN averages 12 years, with electricity savings of about $7,938.8 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01