Solar Panels Cost 5.2k-15k in Hennepin County, MN | November, 2024

Solar Panels Cost $5.2k-$15k in Hennepin County, MN | November, 2024

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How much do solar panels cost in Hennepin County, MN in 2024?

Going solar in the month of November, 2024 in Hennepin County, MN averages out to $3.76/W.

According to this rate, we are able to conclude that for every 1 kW (1000 watts) your solar system can generate you will spend $3,760 to have your solar system installed. A 5 kW solar panel system in Hennepin County is typically about $13,160 after accounting for the 30% federal income tax credit. Don't forget, a higher capacity system may be essential to meet your energy needs.

On the left-hand side, you can pick your county to determine the average roof size and the maximum capacity for solar panel systems in residences in your area. Below is a full breakdown of the price, 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.
Hennepin County: $13,160US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Hennepin County: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Hennepin County: $6,633US Average: $16,169

Solar Potential in Hennepin County

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

Roof size 554sq. ft.
Capacity 7.75kW DC
Electricity 8.8kkWh AC per yr.

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

The average electricity bill for a Hennepin County resident is 105.97, with a monthly consumption of 649 kWh. Apartments and other smaller living spaces with lower energy demand are covered in this figure.

Hennepin County, MN's electricity rate is on average 16.32¢ per kWh in November 2024.

You'll spend $15,792 on a 6 kW setup after including the 30% federal income tax credit in your calculations.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Hennepin County

Shown on the left, you will find a price breakdown for different solar panel system sizes installed in Hennepin County. Even though a more extensive solar installation does come with a greater cost, it also brings increased electricity savings and more substantial income tax credits.

The breakdown of costs and benefits for solar panels, shown in the calculator below and to the right, is based on an average electric bill of $105.97 in Hennepin County. If you want personalized results, modify the $105.97 to your usual electricity bill amount.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $448 a year
Est. Price
$5,264
Savings from a 2kWthis system
  • Est. yearly production 2,802 kWh
  • Est. monthly savings $37
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 1.49 tons a year
  • Equivalent to planting 68 trees a year
  • Equivalent to driving 3,691 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $673 a year
Est. Price
$7,896
Savings from a 3kWthis system
  • Est. yearly production 4,203 kWh
  • Est. monthly savings $56
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 2.24 tons a year
  • Equivalent to planting 103 trees a year
  • Equivalent to driving 5,536 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $897 a year
Est. Price
$10,528
Savings from a 4kWthis system
  • Est. yearly production 5,604 kWh
  • Est. monthly savings $75
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.98 tons a year
  • Equivalent to planting 137 trees a year
  • Equivalent to driving 7,381 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,121 a year
Est. Price
$13,160
Savings from a 5kWthis system
  • Est. yearly production 7,005 kWh
  • Est. monthly savings $93
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.73 tons a year
  • Equivalent to planting 171 trees a year
  • Equivalent to driving 9,226 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,345 a year
Est. Price
$15,792
Savings from a 6kWthis system
  • Est. yearly production 8,406 kWh
  • Est. monthly savings $106
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 4.23 tons a year
  • Equivalent to planting 194 trees a year
  • Equivalent to driving 10,471 mi less a year

Hennepin County Solar Panel Installation Incentives & Rebates | 2024

Rural farmers and small business owners could have between 80% and 100% of their solar energy or wind turbine installation expenses covered by the REAP Grant. Believe you might qualify? Use our REAP Grant eligibility tool to check your eligibility.

For residential solar projects, almost everyone people are eligible for the 30% federal income tax credit, which makes solar a practical solution in many parts of the country. Moreover, many regional programs are intended to encourage more people to adopt solar power.

A total of 20 solar rebates and incentives are available in Minnesota through different utility companies and government agencies.

Solar incentives in MN

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 Hennepin County, MN?

If you're expecting to live in your home past the solar system's payback period, solar panels are a smart decision in Hennepin County. A 5 kW solar system in Hennepin County, MN might save you an average of $12,272.8 over 20 years, with the break even point usually being 10 years.

The cost of not having solar panels in Hennepin County, MN

Without solar panels or another backup power source, you lose out on the previously noted savings and are fully dependent on your electric utility for electricity. Full reliance on your utility company is not always ideal, as recent media examples have demonstrated.

Generally, customers in Hennepin County encounter around 0.64 outages. On average, an outage lasts 64.12 minutes. Major events such as vandalism, aging infrastructure or winter storms can significantly extend these time frames.

See the info below to see the number of current electricity customers without power in Hennepin County.

Even without a backup battery, a solar panel system could ease the burden of possible future power disruptions you may encounter.

Power Outages

Currently, 0 customers are being tracked in Hennepin County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

What impacts the cost of solar panels in Hennepin County, MN?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt lowers as the system size grows. It is often advantageous for homeowners to install a solar system that can make enough electricity to offset their electric bill, which results in significant savings.

Make & Model - There are a range of makes and models of solar panels. As the installer might have specific brand preferences, it's important to choose a highly rated installer. Consumers who opt for better materials usually enjoy a more favorable long-term experience.

Solar Panel Type - For valid reasons, monocrystalline panels have become the standard in the industry. They come with a higher price but are more energy-efficient. Many solar panel installers use panels made of this material.

Your Property - Elements like trees, sloped land, or other considerations might complicate the installation process. Many solar installers now are able to use satellite imagery to assess your home and factor in these aspects in the first cost estimate.

Labor Rates - The pay that various companies offer their employees are different, and these costs are transferred to the consumers. Companies that pay higher wages frequently garner higher reviews for their services and customer service.

Permitting & Interconnection - The cost of your installation will be affected by the local permitting and utility interconnection fees, which differ depending on the area. Reliable installers will factor these costs into your preliminary quotes to prevent unexpected expenses.

Go Solar for less than your cell phone bill.

Who are the best solar installers in Hennepin County?

All Energy Solar

St. Paul, MN(800) 620-3370

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

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

Core Development Group

(201) 825-2195

Services

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

Solar Farm

St. Paul, MN(651) 271-8410

Services

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

Dividend Finance

Cincinnati, OH(415) 805-7000

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Sundial Energy

St. Louis Park, MN(952) 922-8560

Services

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

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • 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.

Harvest Solar

Jackson, MI(888) 907-6527

Services

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

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Reparation of batteries.
  • 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.

GRNE Solar

Palatine, IL(312) 859-3417

Services

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

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

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

LightEdison

Denver, CO(888) 966-6377

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Reparation of batteries.
  • Auditing of energy requirements for independent energy generation.
  • 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.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

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

Hennepin County, MN Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Hennepin County, MN as of November, 2024 is $3.76/W. The approximate cost of a 5 kW solar panel system in Hennepin County, MN, after deducting federal tax credits, is $13,160.
  • Residents of Minnesota can currently take advantage of 20 rebates and incentives offered by various utilities and government bodies. In addition, the 30% federal income tax credit is available to almost everyone.
  • Even though paying cash provides the most savings, there are now several financing options for solar panels that also are financially sensible. Installers will often include details on financing partners in the quotes they provide initially.
  • Yes, the average 5 kW solar panel payback period in Hennepin County, MN stands at 10 years, yielding average electricity savings of $12,272.8 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-11-04