Solar Panels Cost 16k-26k in Litchfield, MN | October, 2024

Solar Panels Cost $16k-$26k in Litchfield, MN | October, 2024

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

In Litchfield, MN, the price per watt of solar panels is around $3.81 per watt in October, 2024.

Put another way, solar panels will cost you about $3,810 per 1 kW (or 1000 watts) of generation capacity. In Litchfield, you can expect to spend around $13,335 for a 5 kW system once the 30% federal income tax credit is factored in. It's important to note that a more extensive system might be essential to meet your energy demands.

To the left, you can select your county to find the typical roof size and average maximum capacity for solar panel systems on homes in your area. See below a full breakdown of the {price|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.
Litchfield: $13,335US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Litchfield: 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.
Litchfield: $7,957US Average: $15,784

Solar Potential in Litchfield

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

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

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

For Litchfield energy consumers, the average electric bill is $112.53 per month, with a usage of 1,136 kWh. These numbers encompass apartments and other smaller homes with lower energy needs.

The mean rate for electricity in Litchfield, MN during October, 2024 is 9.91¢ per kWh.

In Litchfield, a system size of 10 kW or higher is needed for the average energy user to account for their full power usage demands. The cost of a a 10 kW solar installation is approximately $38,100 initially, but the federal tax credit provides a 30% credit, lowering your final cost to $26,670.

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Average solar panel costs by system size in Litchfield

Displayed below and to the left, you can find a detailed price breakdown for different solar panel system sizes set up in Litchfield. A larger solar array will expectedly cost more, but it will also provide more significant electricity savings and increased income tax credits.

In the solar panel cost calculator located down and to the right, you can examine a cost and benefit breakdown to match an average $112.53electric bill in Litchfield. To get customized results, just adjust the $112.53to match your usual electricity bill amount.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $869 a year
Est. Price
$16,002
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $72
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 2.51 tons a year
  • Equivalent to planting 115 trees a year
  • Equivalent to driving 6,214 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,014 a year
Est. Price
$18,669
Savings from a 7kWthis system
  • Est. yearly production 10,141 kWh
  • Est. monthly savings $85
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 2.93 tons a year
  • Equivalent to planting 135 trees a year
  • Equivalent to driving 7,250 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,159 a year
Est. Price
$21,336
Savings from a 8kWthis system
  • Est. yearly production 11,590 kWh
  • Est. monthly savings $97
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 3.35 tons a year
  • Equivalent to planting 154 trees a year
  • Equivalent to driving 8,286 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,304 a year
Est. Price
$24,003
Savings from a 9kWthis system
  • Est. yearly production 13,039 kWh
  • Est. monthly savings $109
  • Full payback in 18 years
Environmental Impacts
  • Reduces CO2 emissions by 3.77 tons a year
  • Equivalent to planting 173 trees a year
  • Equivalent to driving 9,321 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,449 a year
Est. Price
$26,670
Savings from a 10kWthis system
  • Est. yearly production 14,487 kWh
  • Est. monthly savings $113
  • Full payback in 20 years
Environmental Impacts
  • Reduces CO2 emissions by 3.92 tons a year
  • Equivalent to planting 180 trees a year
  • Equivalent to driving 9,694 mi less a year

Litchfield Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and farms might have their photovoltaic or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. If you think you might be eligible, try our REAP Grant eligibility tool to check your qualification.

For those looking into residential solar, the 30% federal income tax credit is accessible to almost all homeowners, which makes solar a sensible option in many states. Alongside federal efforts, state and local programs help to support the use of solar power.

Residents of Minnesota can access 12 solar rebate and incentive programs from a range of utilities and governmental agencies.

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?

For those in Litchfield looking to stay in their homes past the payback period of their solar system, solar panels make excellent sense. Over a 20 year period, a 5 kW solar system in Litchfield, MN could save you approximately $13,672.2, with the average break even time being 10 years.

The cost of not having solar panels in Litchfield, MN

Without solar panels or another energy backup source, you miss out on the savings discussed earlier and are completely dependent on your electric utility for power. Numerous recent news reports have illustrated that total reliance on your utility isn't always the best idea.

Lately, utilities in Litchfield have reported an average of 1.92 outages per customer annually. Each outage lasts an average of 127.16 minutes. In the case of major events such as thunderstorms, overloaded power grids, or vandalism, this period can increase substantially.

Having a solar panel system, with or without a backup battery, could lessen the pressure of any future outages you may encounter.

Power Outages

Currently, 0 customers are being tracked in Meeker County.

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Customers Out:

0

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

Your Energy Needs - Although the initial cost is greater, the cost per watt drops with larger solar panel systems. Installing a solar panel system that can cover the electric bill is advantageous to individuals because of the reduced long-term costs.

Make & Model - Solar panels and mounting equipment are offered in a wide variety of makes and models. The installer you select may have specific brand preferences, so it's crucial to choose a highly rated company. Better equipment generally result in an better long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels have become the industry standard, and for good reason. These panels have a higher cost but yield more energy. Most installers in the industry utilize panels made of this material.

Your Property - Each property and home has its own characteristics. Factors like sloped land, trees, or additional hurdles can make the installation more challenging. Most solar installers currently use satellite imagery to assess your home and factor in these elements into the first cost estimate.

Labor Rates - Employees receive varied wages from different companies, and these costs are handed down to the consumers. Companies typically receive higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - The cost of your installation will be influenced by the local permitting and utility interconnection fees, which change depending on the area. Quality local installers will integrate these figures into your first estimates to prevent any surprises.

See what solar panels cost in other MN cities

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Who are the best solar installers in Litchfield?

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.

Litchfield, MN Solar Panel Cost FAQs

  • As of October, 2024, the average solar panel installation cost in Litchfield, MN has reached $3.81/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Litchfield, MN is roughly $13,335.

  • Homeowners in Minnesota can take advantage of 12 different rebates and incentives from a variety of utility companies and government agencies. Moreover, the 30% federal tax credit is accessible to nearly everyone.

  • Paying cash yields the most savings, but there are now several financing options for solar panels that are also financially beneficial. Many installers have partnerships with financing companies and will include this information in your initial quotes.

  • Yes, in Litchfield, MN, 5 kW solar panel systems typically pay off in 10 years, and users save around $13,672.2 in electricity costs over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01