Solar Panels Cost 11k-22k in Fergus Falls, MN | October, 2024

Solar Panels Cost $11k-$22k in Fergus Falls, MN | October, 2024

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How much do solar panels cost in Fergus Falls, MN in 2024?

Getting solar panels in Fergus Falls, MN averages out to $3.97 per watt in the month of October, 2024.

Put another way, solar panels will cost you about $3,970 per 1 kW (or 1000 watts) of production capacity. In Fergus Falls, a 5 kW panel install sets you back, on average, $13,895 after the 30% federal income tax credit. To fulfill your energy demands, you may require more than a 5kW system.

Use the menu on the left to pick your county and determine the average roof size and the average maximum capacity for residential solar on residences in your area. Below, you can see an overview 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.
Fergus Falls: $13,895US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Fergus Falls: 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.
Fergus Falls: $3,855US Average: $15,784

Solar Potential in Fergus Falls

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

Roof size 724sq. ft.
Capacity 10.13kW DC
Electricity 11.5kkWh AC per yr.

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

In Fergus Falls, the average kWh usage is 869 per month, and the electric bill is $98.77. Compact dwellings, such as townhouses and duplexes, are also encompassed in the statistics cited in the preceding sentence.

The rate of electricity in Fergus Falls, MN, on average, is 11.37¢ per kWh in October 2024.

Typical users in Fergus Falls will want a solar power system of 8 kW or larger to cover their full electricity usage needs. Right now, an 8 kW setup is priced at $31,760, but after a 30% tax credit, it drops to $22,232

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Average solar panel costs by system size in Fergus Falls

To the left and below, the price breakdown for different sizes of the solar panel systems installed in Fergus Falls is shown. The investment for a larger solar panel setup is higher, but it also offers greater electricity savings and increased income tax credits.

Using the solar panel cost calculator located down and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $98.77 in Fergus Falls. By modifying the $98.77 to your average electricity bill, you can get tailored results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $637 a year
Est. Price
$11,116
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $53
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 1.29 tons a year
  • Equivalent to planting 59 trees a year
  • Equivalent to driving 3,198 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $797 a year
Est. Price
$13,895
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $66
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 1.61 tons a year
  • Equivalent to planting 74 trees a year
  • Equivalent to driving 3,997 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $956 a year
Est. Price
$16,674
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $80
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 1.94 tons a year
  • Equivalent to planting 89 trees a year
  • Equivalent to driving 4,797 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,116 a year
Est. Price
$19,453
Savings from a 7kWthis system
  • Est. yearly production 10,141 kWh
  • Est. monthly savings $93
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 2.26 tons a year
  • Equivalent to planting 104 trees a year
  • Equivalent to driving 5,596 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,275 a year
Est. Price
$22,232
Savings from a 8kWthis system
  • Est. yearly production 11,590 kWh
  • Est. monthly savings $99
  • Full payback in 19 years
Environmental Impacts
  • Reduces CO2 emissions by 2.41 tons a year
  • Equivalent to planting 111 trees a year
  • Equivalent to driving 5,960 mi less a year

Fergus Falls Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and farms might have their solar or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. Not sure if you qualify? Use our REAP Grant eligibility tool to verify.

For those considering residential solar options, a 30% federal income tax credit is broadly available, boosting the appeal and practicality of solar energy in numerous areas in the nation. Together with federal efforts, state and local programs help to support the use of solar power.

Several utilities and government organizations in Minnesota currently offer 12 solar rebates and incentives.

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?

When you expect to live in your home beyond the payback period of your solar system, solar panels are an clear choice in Fergus Falls. Over a 20 year time frame, a 5 kW solar system in Fergus Falls, MN could save you around $9,809.8, with the average break even time being 12 years.

The cost of not having solar panels in Fergus Falls, MN

In addition to missing out on the previously mentioned savings, not having solar panels or a separate backup energy source makes you fully reliant on your electric utility for electricity. As shown by recent news, total dependence on your utility isn't always ideal.

Lately, the average number of utility outages per customer in Fergus Falls has been 1.41 annually. Outages generally last for an average of 120.65 minutes. During major occurrences like wildfires, grid management errors, or planned maintenance, these times can extend significantly.

A solar panel system, with or without a backup battery or not, could help lessen the impact of future power outages you might encounter.

Power Outages

Currently, 0 customers are being tracked in Otter Tail County.

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Customers Out:

0

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What impacts the cost of solar panels in Fergus Falls, MN?

Your Energy Needs - While the upfront cost is larger, the price per watt decreases with larger solar panel systems. Most consumers see the benefit in setting up a solar setup that can generate enough power to cover their entire electric bill, ensuring significant savings.

Make & Model - There are numerous brands and models of solar panels. Selecting an installer with certain brand preferences means it is even more important essential to go with a highly rated contractor. Selecting better quality equipment usually yields a more favorable long-term experience for the buyer.

Solar Panel Type - It's understandable that monocrystalline panels are now the standard in the industry. These panels have a higher cost but generate more energy. Most installers in the industry use panels constructed of this material.

Your Property - No two homes or properties are the same. Elements like trees, uneven landscapes, or additional considerations might complicate the installation process. Solar installers today have the ability to use satellite images to evaluate your home and incorporate these factors in the preliminary cost estimate.

Labor Rates - Companies provide varying pay rates to their employees, which are then reflected in the prices consumers pay. Often, businesses paying more in wages additionally enjoy higher ratings for their services and customer service.

Permitting & Interconnection - Your final installation cost will be affected by local permitting and utility interconnection fees, which change by area. Quality local installers will include these numbers into your first quotes to prevent any surprises.

See what solar panels cost in other MN cities

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Who are the best solar installers in Fergus Falls?

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.

Fergus Falls, MN Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Fergus Falls, MN is $3.97/W. In Fergus Falls, MN, the cost of installing a 5 kW solar panel system is approximately $13,895 after applying the federal tax credit.

  • Currently, Minnesota residents can benefit from 12 rebates and incentives available through various utilities and government bodies. Additionally, the vast majority qualify for the 30% federal tax credit.

  • Paying cash offers the most savings, yet there are many financing options available today for solar panels that are also beneficial. Initial quotes from installers will frequently contain information about available financing options.

  • Yes, the average time to recoup the cost of 5 kW solar panels in Fergus Falls, MN is 12 years, with homeowners saving an average of $9,809.8 on electricity over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01