Solar Panels Cost 5.1k-15k in Lindstrom, MN | October, 2024

Solar Panels Cost $5.1k-$15k in Lindstrom, MN | October, 2024

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

It is approximately $3.69/W in October, 2024 in Lindstrom, MN to go solar.

This means that, for every 1000 watts (or 1 Kw) your system can generate you will spend $3,690 to get your system installed in . In Lindstrom, after receiving the 30% federal income tax credit, a 5 kW solar system will cost you $12,915. Please note that a more powerful system may be essential to meet your energy demands.

On the left, you can select your county to find out the average roof size and the maximum capacity for solar panels on houses in your area. The following outline, below, highlights 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.
Lindstrom: $12,915US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Lindstrom: 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.
Lindstrom: $6,529US Average: $15,784

Solar Potential in Lindstrom

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

Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 10.6kkWh AC per yr.

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

The average monthly electric bill for Lindstrom residents is $104.08, with an average usage of 622 kWh. Consider that this statistic includes smaller residences including apartments, known for less energy use.

For October 2024, Lindstrom, MN's average electricity rate is 16.73¢ per kWh.

Average electricity users in Lindstrom may require a solar power system of 6 kW or more to meet their full electricity consumption needs. At this time, a 6 kW solar installation will initially set you back around $22,140, but the federal tax credit reduces the price by 30%, making it $15,498.

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Average solar panel costs by system size in Lindstrom

On the left side, you'll see a detailed price breakdown of the various sizes of solar panel systems set up in Lindstrom. The investment for a larger solar panel setup is higher, but it also yields higher electricity savings and higher income tax credits.

The solar panel cost and benefit breakdown, visible in the calculator down and to the right, is based on an average electric bill of $104.08 in Lindstrom. Simply replace the $104.08 with your usual electricity bill amount to see more specific results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $493 a year
Est. Price
$5,166
Savings from a 2kWthis system
  • Est. yearly production 2,897 kWh
  • Est. monthly savings $41
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 1.45 tons a year
  • Equivalent to planting 67 trees a year
  • Equivalent to driving 3,595 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $739 a year
Est. Price
$7,749
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $62
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 2.18 tons a year
  • Equivalent to planting 100 trees a year
  • Equivalent to driving 5,392 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $985 a year
Est. Price
$10,332
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $82
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.9 tons a year
  • Equivalent to planting 133 trees a year
  • Equivalent to driving 7,189 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,231 a year
Est. Price
$12,915
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $103
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.63 tons a year
  • Equivalent to planting 167 trees a year
  • Equivalent to driving 8,986 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,478 a year
Est. Price
$15,498
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $104
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.68 tons a year
  • Equivalent to planting 169 trees a year
  • Equivalent to driving 9,107 mi less a year

Lindstrom Solar Panel Installation Incentives & Rebates | 2024

Rural farmers and small business owners could have between 80% and 100% of their photovoltaic or wind turbine installation expenses covered by the REAP Grant. Unsure if you qualify? Use our REAP Grant eligibility tool to confirm.

Homeowners can benefit from a 30% federal income tax credit for setting up residential solar panels, which makes solar power a sensible option in much of the country. A multitude of state and local programs are offered to encourage the use of solar energy.

There are 12 solar rebate and incentive initiatives currently offered in Minnesota by multiple 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 you intend to own your residence longer than the solar system's payback period, solar panels are a wise investment in Lindstrom. With a 5 kW solar system in Lindstrom, MN, the average savings over a 20 period is $12,064.2, with break even usually occurring at 10 years.

The cost of not having solar panels in Lindstrom, MN

In addition to missing out on the previously mentioned savings, not installing solar panels or a different backup energy source results in complete dependence on your electric utility for electricity. As demonstrated by recent news, full reliance on your utility is not always the best option.

Yearly, customers in Lindstrom face approximately 0.87 outages each year. On average, each outage lasts for 97.11 minutes. Major events like vandalism, aging infrastructure or wildfires can considerably extend these durations.

A solar panel system could alleviate the burden of future outages, even if it is without a backup battery.

Power Outages

Currently, 0 customers are being tracked in Chisago County.

Learn more

Customers Out:

0

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

Your Energy Needs - Even if the initial expense is greater, the price per watt decreases with larger solar panel systems. Individuals often find that installing a solar system that can replace their electric bill is highly beneficial. This approach ensures increased savings.

Make & Model - Just like other products, solar panels come in a wide variety of makes and models. Since the contractor might have particular system preferences, it's essential to select a reputable company. For consumers desiring a more favorable long-term experience, investing in higher quality equipment is important.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They have a higher price, but they generate more energy. Many solar panel installers opt for this type of material.

Your Property - Each property and home has its own characteristics. Factors like trees, sloping terrain, or additional hindrances can make the installation more challenging. Most solar installers today utilize satellite imagery to assess your home and integrate these considerations into the initial cost estimate.

Labor Rates - The wages that various companies offer their employees are different, and these costs are passed on to the consumers. It is common for companies that offer higher wages to garner better reviews for their work and customer service.

Permitting & Interconnection - The cost of installation will be influenced by different local permitting and utility interconnection fees. Reliable installers will factor these costs into your first quotes to prevent unexpected expenses.

See what solar panels cost in other MN cities

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Who are the best solar installers in Lindstrom?

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.

Lindstrom, MN Solar Panel Cost FAQs

  • The average solar panel cost in Lindstrom, MN as of October, 2024 is estimated at $3.69/W. With the federal tax credit, the cost of a 5 kW solar panel system in Lindstrom, MN drops to roughly $12,915.

  • If you live in Minnesota, you can find 12 rebates and incentives through different utilities and government agencies. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Paying cash will ensure the most savings, but currently there are several options for financing solar panels that are cost-effective as well. Installers often have partnerships with financing companies and will detail this information in your initial quotes.

  • Yes, on average, 5 kW solar panels in Lindstrom, MN pay for themselves in 10 years, with homeowners saving approximately $12,064.2 on electricity over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01