Solar Panels Cost 7.8k-18k in Circle Pines, MN | October, 2024

Solar Panels Cost $7.8k-$18k in Circle Pines, MN | October, 2024

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How much do solar panels cost in Circle Pines, MN in 2024?

In Circle Pines, MN, the cost per watt for solar panels averages $3.72/W in October, 2024.

Using the cost, you are able to conclude that for every 1000 watts (1 kW) your panels can produce you will have to invest $3,720 to have your system installed. After receiving the 30% federal tax credit, you can expect to pay around $13,020 for a 5 kW system in Circle Pines. Please consider, a 5kW system may not be enough to meet your energy demands.

By selecting your county on the left, you can see the average roof size and the average maximum capacity for residential solar panel systems in your area. Below is an analysis of the costs, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Circle Pines: $13,020US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Circle Pines: 11 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Circle Pines: $6,151US Average: $15,784

Solar Potential in Circle Pines

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

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

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

Circle Pines residents generally consume 751 kWh of electricity each month, with bills averaging $103.13. {These numbers include apartments and other smaller homes, which generally have reduced energy consumption.

In October 2024, Circle Pines, MN's mean electricity rate is 13.74¢ per kWh.

In Circle Pines, a system size of 7 kW or more is needed for the typical energy consumer to account for all of their energy needs. Right now, a 7 kW solar panel system will set you back about $26,040upfront, but thanks to the federal tax credit, you receive 30% back, reducing the total to $18,228.

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Average solar panel costs by system size in Circle Pines

On the left side below, the cost breakdown for various sizes of solar panel systems set up in Circle Pines can be seen. The initial cost for more extensive solar systems is larger, but they also provide more significant electricity savings and higher income tax credits.

Check the solar panel cost calculator down and to the right to see the cost and benefit details derived from an average $103.13 electric bill in Circle Pines. Change the $103.13 with your typical electricity bill to get more detailed results.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $608 a year
Est. Price
$7,812
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $51
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.92 tons a year
  • Equivalent to planting 88 trees a year
  • Equivalent to driving 4,760 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $811 a year
Est. Price
$10,416
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $68
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.56 tons a year
  • Equivalent to planting 118 trees a year
  • Equivalent to driving 6,347 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,014 a year
Est. Price
$13,020
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $85
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.21 tons a year
  • Equivalent to planting 147 trees a year
  • Equivalent to driving 7,933 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,217 a year
Est. Price
$15,624
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $101
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.85 tons a year
  • Equivalent to planting 177 trees a year
  • Equivalent to driving 9,520 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,420 a year
Est. Price
$18,228
Savings from a 7kWthis system
  • Est. yearly production 10,141 kWh
  • Est. monthly savings $103
  • Full payback in 15 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

Circle Pines Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant offers substantial financial support, potentially covering 80% to 100% of the costs for rural businesses and farms to install solar energy or wind energy systems. Think you might be eligible? Verify your qualification with our REAP Grant eligibility tool.

Most people can benefit from the 30% federal income tax credit for residential solar, making it a feasible investment in numerous areas of the country. Numerous regional and state programs are in place to encourage solar energy adoption.

There are 12 solar rebate and incentive initiatives currently available in Minnesota by various utilities and government bodies.

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 your goal is to maintain your home well past the payback period of your solar system, solar panels are an clear choice in Circle Pines. By installing a 5 kW solar system in Circle Pines, MN, you can expect to save around $11,731.2 over 20 years, with the break even point usually being 11 years.

The cost of not having solar panels in Circle Pines, MN

Apart from missing out on the savings noted above, the absence of solar panels or another backup energy solution leads to total dependency on your electric utility for power. Many recent news stories have made it evident that complete reliance on your utility isn't always the best idea.

Recently, customers in Circle Pines have experienced an average of 0.73 outages per year. The typical duration of each outage is 85.31 minutes. When significant events such as construction accidents, overloaded power grids or hurricanes occur, these time frames can become much longer.

A solar panel system, whether or not it has a backup battery, could help reduce the impact of future outages you might face.

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 Circle Pines, MN?

Your Energy Needs - The upfront cost for larger solar panel systems is larger, but the cost per watt decreases as the system size expands. Homeowners often find that setting up a solar system that can cover their entire electric bill is advantageous, leading to maximum savings.

Make & Model - There are numerous brands and models of solar panels. The installer you select may have particular brand preferences, so it's crucial to select a reputable contractor. Superior quality models generally result in a more satisfactory long-term experience for buyers.

Solar Panel Type - The standard in the industry is now monocrystalline panels, and justifiably so. They come with a higher price but are more efficient. Many solar panel installers use panels made of this kind of material.

Your Property - Every property and home is distinct. Trees, sloping terrain, or additional hurdles can make the installation more difficult. These days, solar installers typically use satellite images to evaluate your home and include these factors into the first cost estimate.

Labor Rates - The wages that companies offer their employees vary, and these expenses are inevitably shown in consumer prices. Usually, companies paying more in wages also enjoy higher ratings for their work and customer service.

Permitting & Interconnection - Permitting and utility interconnection fees change locally and will influence your installation cost. Quality local installers will include these figures in your first estimates to provide transparency.

See what solar panels cost in other MN cities

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Who are the best solar installers in Circle Pines?

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.

Circle Pines, MN Solar Panel Cost FAQs

  • In October, 2024, the average cost of solar panels per watt in Circle Pines, MN is $3.72/W. After federal tax credits, the installation of a 5 kW solar panel system in Circle Pines, MN is estimated to cost $13,020.

  • There are 12 rebates and incentives available in Minnesota from a range of utility providers and government organizations. Furthermore, the majority of people qualify for the 30% federal tax credit.

  • Paying cash offers the highest savings, but there are now numerous financing options for solar panels that are also cost-effective. Installers typically partner with financing companies and will provide this information into your initial quotes.

  • Yes, the average 5 kW solar panel payback period in Circle Pines, MN stands at 11 years, yielding average electricity savings of $11,731.2 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01