Solar Panels Cost $13k-$24k in Faribault County, MN | February, 2025
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How much do solar panels cost in Faribault County, MN in 2025?
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The typical cost per watt for solar in Faribault County, MN in February, 2025 is $3.87/W.
Based on this price, we can come to the conclusion that for every 1 kW (1000 watts) of solar power capacounty will cost you $3,870 for installation. When you consider the 30% federal tax credit, a 5 kW system in Faribault County will set you back $13,545. Please keep in mind that a larger system could be necessary to fulfill your energy needs.
To your left, you have the option to select your county and access information on the typical roof size along with the average maximum capacity for solar panel installations on homes in your area. Below, you can see a complete analysis of 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.
Faribault County: $13,545US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Faribault County: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Faribault County: $17,888US Average: $16,301
Solar Potential in Faribault County
Estimated system size and solar electricity production per median viable roof in Faribault County.
Roof size 724sq. ft.
Capacity 10.13kW DC
Electricity 11.5kkWh AC per yr.
Electricity Costs in Faribault County, MN & What that Means for Your Solar Panel Pricing
The typical energy consumer in Faribault County has a monthly electric bill of 155.16 and uses 985 kWh on average. These statistics also include apartments and smaller homes with generally lower energy needs.
The rate of electricity in Faribault County, MN, averaging, is 15.75¢ per kWh for February 2025.
Upfront, a 9 kW solar system will cost around $34,830, after a 30% federal tax credit, the price drops to $24,381.
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Average solar panel costs by system size in Faribault County
Displayed below and to the left is the cost analysis for multiple sizes of the solar panel systems set up in Faribault County. Bigger solar installations carry a larger expense, yet they also offer higher electricity savings and larger income tax credits.
The solar panel cost and benefit breakdown, visible in the calculator to the right and below, is based on an average electric bill of $155.16 in Faribault County. Modify the $155.16 to your usual bill payment for more accurate results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,159 a year
Est. Price
$13,545
Savings from a 5kWthis system
Est. yearly production 7,244 kWh
Est. monthly savings $97
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 1.2 tons a year
Equivalent to planting 55 trees a year
Equivalent to driving 2,965 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,391 a year
Est. Price
$16,254
Savings from a 6kWthis system
Est. yearly production 8,692 kWh
Est. monthly savings $116
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 1.44 tons a year
Equivalent to planting 66 trees a year
Equivalent to driving 3,558 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,623 a year
Est. Price
$18,963
Savings from a 7kWthis system
Est. yearly production 10,141 kWh
Est. monthly savings $135
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 1.68 tons a year
Equivalent to planting 77 trees a year
Equivalent to driving 4,151 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,854 a year
Est. Price
$21,672
Savings from a 8kWthis system
Est. yearly production 11,590 kWh
Est. monthly savings $155
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 1.92 tons a year
Equivalent to planting 88 trees a year
Equivalent to driving 4,744 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $2,086 a year
Est. Price
$24,381
Savings from a 9kWthis system
Est. yearly production 13,039 kWh
Est. monthly savings $155
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 1.92 tons a year
Equivalent to planting 88 trees a year
Equivalent to driving 4,758 mi less a year
Faribault County Solar Panel Installation Incentives & Rebates | 2025
For rural small businesses and agricultural properties, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Believe you might be eligible? Use our REAP Grant eligibility tool to confirm your eligibility.
The 30% federal income tax credit for residential solar is accessible to almost all homeowners, making solar energy a good choice in numerous regions across the country. State and local governments have various programs to promote the switch to solar energy.
A total of 20 solar rebates and incentives are available in Minnesota through multiple utility companies and government organizations.
Solar incentives in MNIncentive Description Value
Rochester Public Utilities - Solar Rebate Program
Value:Up to $500
Residential and business customers of RPU, the municipal electric utility for the city of Rochester, may be entitled to rebates on new solar photovoltaic devices and components. New system installations will yield a $500 incentive regardless of their rated capacity. Systems should meet all city, state, and federal standards and be interconnected to the grid under a net metering contract. To apply, customers must first schedule an energy audit to verify quantitative efficiency improvement. Additional information is available from the RPU website.
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.
Marshall Municipal Utilities - Solar Thermal Water Heater Rebate Program
Value:Up to $2,000
Residential customers of MMU, the municipal utility for the city of Marshall, may be eligible for special rebates on new solar water heaters. The incentive amount will depend on the physical size of the solar panels. Currently, MMU will pay $20 per square foot up to $2,000. Rebates add to state-level tax credits and exemptions. Additional information is available from the MMU website.
Austin Utilities - Solar Rebate Program
Value:Up to $1
Residential and commercial customers of AU, the municipal electric utility for the city of Austin, may be eligible for rebates on new solar PV systems and water heaters. Qualifying systems should meet all state and federal standards, be installed by a certified solar contractor, and be interconnected to the grid under a net metering arrangement. Should a system meet these qualifications, owners can earn a rebate of $500 for PV or $15/square foot of water heater collector area. Application forms are available from the AU website.
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.
Dakota Electric Association - Residential Energy Efficiency Rebate Program
Value:Varies
Residential and commercial customers of the Dakota Electric Association may be entitled to rebates on a variety of energy-efficient improvements. Available rebate offers will vary from time to time. Current offers include rebates on large appliances, lighting, insulation/weatherization, central/room HVAC, and new solar PV or geothermal heat systems. Rebate amounts depend on the type of project and how much efficiency it will add to the property. Additional information is available from the cooperative website.
Xcel Energy - Renewable Development Fund Grants
Value:Varies
NOTE: This program appears to be defunct as of 2013. 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. Grant programs supported by the fund usually take the form of requests for proposals (RFPs). Xcel details grant revenue and spending in an annual report submitted to the state legislature, and grant recipients produce similar supplementary reports on their projects' environmental impact. Additional information is available from the Xcel website.
Owatonna Public Utilities - Residential Conserve and Save Rebate Program
Value:Varies
Residential customers of OPU, the municipal utility for the city of Owatonna, may be eligible for rebates on energy-efficient appliances. Qualifying appliances will vary from time to time, but currently include fridge/freezers and room air conditioners certified by ENERGY STAR. To qualify for a rebate, the owner must recycle their previous appliance. OPU will cover any fees incurred from the recycling of appliances as a part of the rebate. Additional information is available from the OPU 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.
Minnesota Power - Power Grant Program
Value:Varies
Minnesota Power manages a large-scale energy efficiency grant program. Up to $50,000 in awards may be available to businesses and farmers investing in energy efficiency improvements, including new renewable energy systems and experimental technologies. Grants depend on the applicant's need and projected energy savings. They are supplemented by rebates of $200/kW of the improvements' rated capacity. Additional information is available from the Minnesota Power 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.
Marshall Municipal Utilities - Residential Energy Efficiency Rebate Program
Value:Varies
Residential customers of MMU, the municipal utility for the city of Marshall, may be eligible for rebates on new energy-efficient systems and appliances. Available rebate offers will vary from time to time. Current offers include incentives for ENERGY STAR-certified fridge/freezers, washer/dryers, dishwashers, central/room HVAC, water heaters, dehumidifiers, and solar/geothermal systems (through a separate program). Customers may also receive financial assistance to certify their entire home with ENERGY STAR through an initiative targeted at new construction. Additional information is available from the MMU website.
Are solar panels worth it in Faribault County, MN?
If your intention is to stay in your home beyond the solar payback period, choosing solar panels is a smart option in Faribault County. With a 5 kW solar system in Faribault County, MN, the average savings over a 20 period is $23,693.4, with break even generally occurring at 7 years.
The cost of not having solar panels in Faribault County, MN
The absence of solar panels or an alternative energy backup means that you forgo the savings noted earlier and depend on your electric utility for electricity. Many recent news articles have revealed that complete dependence on your utility isn't always the best option.
Each year, utility customers in Minnesota have faced an average of 0.77 outages per year. Each outage, on average, lasts for 63.3 minutes. In the case of major events like earthquakes, vandalism, or aging infrastructure, this period can rise substantially.
Take a look at the component below to see the number of current electricity customers without power in Faribault County.
Whether it comes with a backup battery or not, a solar panel system could alleviate the strain of any future power interruptions you may encounter.
Power Outages
Currently, 0 customers are being tracked in Faribault County.
What impacts the cost of solar panels in Faribault County, MN?
Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt diminishes. Most consumers see the usefulness in setting up a solar setup that can generate enough power to cover their entire electric bill, leading to significant savings.
Make & Model - Solar panels and mounting equipment, like many other products, are available in different makes and models. The installer you choose may have specific brand preferences, so it's crucial to choose a reputable installer. To ensure a better long-term experience, buyers should consider higher quality models.
Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even with a higher cost, this technology produce more energy. The majority of installers opt for panels crafted using this material.
Your Property - Uneven land, trees, or additional hindrances can make the installation process more challenging. Nowadays, many solar installers can leverage satellite imagery to assess your home and include these aspects into the initial cost estimate.
Labor Rates - The different wages that companies offer their employees result in costs that are ultimately passed on to consumers. Higher wages often lead to companies getting better reviews for their services and customer service.
Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will influence your installation cost. Reputable local installers will include these figures in your initial estimates to provide transparency.
See what solar panels cost in other Faribault County cities
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Who are the best solar installers in Faribault County?
The cost per watt for solar panels in Faribault County, MN during February of 2025 averages $3.87/W. The cost of installing a 5 kW solar panel system in Faribault County, MN is about $13,545post federal tax credit.
At present, there are 20 rebates and incentives available to Minnesota residents from various utility and government programs. In addition, nearly all people are eligible for the 30%federal tax credit.
Paying cash will lead to the most savings, but these days there are several options for financing solar panels that make great money sense as well. Your initial quotes will often contain information about financing options provided by installers.
Yes, on average, the return on investment for 5 kW solar panel systems in Faribault County, MN is achieved in 7 years, with electricity savings amounting to $23,693.4 over 20 years.