Solar Panels Cost 5.4k-16k in Hutchinson, MN | October, 2024

Solar Panels Cost $5.4k-$16k in Hutchinson, MN | October, 2024

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

As of October, 2024, the typical price to get solar panels in Hutchinson, MN is $3.86/W.

Said another way, solar panel installations will cost you $3,860 per 1000 watts (1 kW) of production capacity. On average, the price for a 5 kW panel install in Hutchinson, after a 30% federal tax credit, is $13,510. Be advised that a larger system could be needed to fulfill your energy demands.

To the left, you can choose your county to find the average roof size and the maximum capacity of solar panel systems for houses in your area. Below is a full breakdown 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.
Hutchinson: $13,510US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Hutchinson: 15 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Hutchinson: $-1,029US Average: $15,784

Solar Potential in Hutchinson

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

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

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

For Hutchinson energy consumers, the average electric bill is $76.13 per month, with a usage of 658 kWh. Small homes, such as bungalows and apartments, are also included in the statistics mentioned in the former sentence.

In October 2024, the mean electricity rate in Hutchinson, MN amounts to 11.56¢ per kWh.

In Hutchinson, a typical electricity consumer's needs will usually be completely accounted for by a solar system of 6 kW or larger. The estimated cost for a 6 kW solar panel installation will be $23,160 upfront, but after a 30% federal tax credit, the price is $16,212.

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Average solar panel costs by system size in Hutchinson

On your left, we have displayed a detailed cost analysis for various solar panel system sizes set up in Hutchinson. A larger solar array will obviously cost more, but it will also offer more significant electricity savings and higher income tax credits.

The calculator to the right and below gives a detailed summary of solar panel costs and benefits, based on an average electric bill of $76.13 in Hutchinson. By changing the $76.13 to your typical electricity bill, you can get tailored results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $348 a year
Est. Price
$5,404
Savings from a 2kWthis system
  • Est. yearly production 2,897 kWh
  • Est. monthly savings $29
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.73 tons a year
  • Equivalent to planting 79 trees a year
  • Equivalent to driving 4,281 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $522 a year
Est. Price
$8,106
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $43
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.59 tons a year
  • Equivalent to planting 119 trees a year
  • Equivalent to driving 6,421 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $695 a year
Est. Price
$10,808
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $58
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.46 tons a year
  • Equivalent to planting 159 trees a year
  • Equivalent to driving 8,562 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $869 a year
Est. Price
$13,510
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $72
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 4.32 tons a year
  • Equivalent to planting 199 trees a year
  • Equivalent to driving 10,702 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,043 a year
Est. Price
$16,212
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $76
  • Full payback in 18 years
Environmental Impacts
  • Reduces CO2 emissions by 4.54 tons a year
  • Equivalent to planting 208 trees a year
  • Equivalent to driving 11,228 mi less a year

Hutchinson Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for photovoltaic or wind turbines for rural small businesses and farmlands. Curious if you are eligible? Our REAP Grant eligibility tool can help you verify.

Due to the 30% federal income tax credit, residential solar installations are affordable for most people, rendering solar power a practical investment throughout various states. In addition to the federal incentives, state and local programs also seek to boost solar energy uptake.

There are 12 solar incentive and rebate initiatives in Minnesota, provided by different utilities and governmental organizations.

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 intend to live in your home beyond the time it takes to recoup your solar investment, adding solar panels in Hutchinson is an excellent decision. Over a 20 year period, a 5 kW solar system in Hutchinson, MN could save you around $4,761.2, with the average break even time being 15 years.

The cost of not having solar panels in Hutchinson, MN

Without solar panels or another energy backup source, you miss out on the savings highlighted earlier and are entirely dependent on your electric utility for power. Complete reliance on your utility provider is not always ideal, as recent examples in the news have shown.

Customers in McLeod County have encountered around 0.95 outages per year on average. On average, the length of an outage is 114.46 minutes. Major events like tornadoes, equipment failure, or wildlife damage can cause these durations to rise considerably.

A solar panel system with (or without) a backup battery could relieve the stress of future outages you experience.

Power Outages

Currently, 0 customers are being tracked in McLeod County.

Learn more

Customers Out:

0

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

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is larger. For most homeowners, installing a system that can make enough power to fully offset their entire electric bill is advantageous, providing significant savings.

Make & Model - There are a variety of makes and models of solar panels. Your installer’s potential brand preferences make it essential to choose a recommended company. The selection of better makes and models can substantially improve the long-term experience for buyers.

Solar Panel Type - It's clear why monocrystalline panels are now the preferred option in the industry. They are pricier but generate more energy. Many professionals in solar installation use panels made from this material.

Your Property - Each home and property is unique in its own way. Trees, uneven land, or additional hurdles may complicate the installation. Most solar installers today are able to utilize satellite imagery to assess your home and factor in these elements in the initial cost estimate.

Labor Rates - The pay that various companies offer their employees differ, and these costs are borne by the consumers. Businesses frequently get higher reviews for their work and customer service when they pay better wages.

Permitting & Interconnection - The local permitting and utility interconnection fees, which vary by region, will affect your final installation price. Quality local installers will include these figures in your first estimates to guarantee transparency.

See what solar panels cost in other MN cities

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Who are the best solar installers in Hutchinson?

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.

Hutchinson, MN Solar Panel Cost FAQs

  • The cost per watt for solar panels in Hutchinson, MN during October of 2024 averages $3.86/W. For a 5 kW solar panel system, the total cost in Hutchinson, MN after federal tax credits is around $13,510.

  • As of now, there are 12 rebates and incentives offered by various utilities and government entities in Minnesota. In addition, the 30% federal income tax credit is available to almost everyone.

  • Even though paying cash offers the most savings, there are now multiple financing options for solar panels that also make financial sense. Installers will often provide details on financing partners in the quotes they provide initially.

  • Yes, in Hutchinson, MN, 5 kW solar panel systems usually pay off in 15 years, providing an average electricity cost savings of $4,761.2 over a 20-year period.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01