Solar Panels Cost 5.3k-16k in Little Falls, MN | October, 2024

Solar Panels Cost $5.3k-$16k in Little Falls, MN | October, 2024

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

The current cost per watt of solar panel systems in Little Falls, MN in October, 2024 is $3.82/W.

In accordance with this cost per watt, solar panel installations will cost you about $3,820 per 1K (or 1000 watts) of production capacity. After applying the 30% federal tax credit, a 5 kW system in Little Falls generally costs $13,370. Be aware that a higher capacity system could be needed to adequately cover your energy consumption.

To your left, you have the option to select your county and access information on the typical roof size along with the average maximum capacity for solar panel installations on homes in your area. Below, you can see a complete analysis 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.
Little Falls: $13,370US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Little 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.
Little Falls: $4,089US Average: $15,784

Solar Potential in Little Falls

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

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

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

On average, Little Falls residents pay $96.62 for their electric bill each month and consume 646 kWh. Flats and small homes with lower energy consumption are covered in this number.

In October 2024, the average electricity rate in Little Falls, MN amounts to 14.95¢ per kWh.

If you’re a typical energy consumer in Little Falls, you will need a solar power system sized at 6 kW or more to meet all your electricity needs. Presently, a 6 kW solar panel system costs $16,044 when including the 30% federal income tax credit.

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Average solar panel costs by system size in Little Falls

To the left, we present a detailed pricing details for multiple solar panel system sizes set up in Little Falls. More extensive solar installations carry a greater cost, yet they also offer higher electricity savings and larger income tax credits.

In the solar panel cost calculator found down and to the right, you can view a cost and benefit breakdown to match an average $96.62electric bill in Little Falls. For a more detailed estimate, replace the $96.62 with your typical electricity bill amount.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $435 a year
Est. Price
$5,348
Savings from a 2kWthis system
  • Est. yearly production 2,897 kWh
  • Est. monthly savings $36
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.07 tons a year
  • Equivalent to planting 49 trees a year
  • Equivalent to driving 2,657 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $652 a year
Est. Price
$8,022
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $54
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.61 tons a year
  • Equivalent to planting 74 trees a year
  • Equivalent to driving 3,985 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $869 a year
Est. Price
$10,696
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $72
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.15 tons a year
  • Equivalent to planting 99 trees a year
  • Equivalent to driving 5,314 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,087 a year
Est. Price
$13,370
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $91
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 2.68 tons a year
  • Equivalent to planting 123 trees a year
  • Equivalent to driving 6,642 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,304 a year
Est. Price
$16,044
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $97
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 2.87 tons a year
  • Equivalent to planting 132 trees a year
  • Equivalent to driving 7,116 mi less a year

Little Falls Solar Panel Installation Incentives & Rebates | 2024

For rural small businesses and agricultural properties, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Believe you might be eligible? Use our REAP Grant eligibility tool to confirm your eligibility.

The 30% federal income tax credit for residential solar is accessible to almost all homeowners, making solar energy a good choice in numerous regions across the country. State and local governments have various programs to promote the switch to solar energy.

A total of 12 solar rebates and incentives are available in Minnesota through multiple utility companies and government 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?

For homeowners in Little Falls who expect to stay in their residence beyond the solar payback period, solar panels make an good investment. A 5 kW solar system in Little Falls, MN could potentially save you $9,818.8 over the course of 20 years, with the break even point averaging at 12 years.

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

The absence of solar panels or an alternative energy backup means that you forgo the savings noted earlier and depend on your electric utility for electricity. Many recent news articles have revealed that complete dependence on your utility isn't always the best option.

Customers in Little Falls have faced around 0.9 outages per year on average. Typically, outages have an average duration of 93.46 minutes. However, during significant events such as landslides, grid management errors, or wildlife damage, these times can drastically increase.

Whether it comes with a backup battery or not, a solar panel system could alleviate the strain of any future power interruptions you may encounter.

Power Outages

Currently, 0 customers are being tracked in Morrison County.

Learn more

Customers Out:

0

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

Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt diminishes. Most consumers see the usefulness in setting up a solar setup that can generate enough power to cover their entire electric bill, leading to significant savings.

Make & Model - Solar panels and mounting equipment, like many other products, are available in different makes and models. The installer you choose may have specific brand preferences, so it's crucial to choose a reputable installer. To ensure a better long-term experience, buyers should consider higher quality models.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even with a higher cost, this technology produce more energy. The majority of installers opt for panels crafted using this material.

Your Property - Uneven land, trees, or additional hindrances can make the installation process more challenging. Nowadays, many solar installers can leverage satellite imagery to assess your home and include these aspects into the initial cost estimate.

Labor Rates - The different wages that companies offer their employees result in costs that are ultimately passed on to consumers. Higher wages often lead to companies getting better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will influence your installation cost. Reputable local installers will include these figures in your initial estimates to provide transparency.

See what solar panels cost in other MN cities

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Who are the best solar installers in Little 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.

Little Falls, MN Solar Panel Cost FAQs

  • As of October, 2024, the average solar panel installation cost in Little Falls, MN has reached $3.82/W. After federal tax credits, the installation of a 5 kW solar panel system in Little Falls, MN is estimated to cost $13,370.

  • At present, there are 12 rebates and incentives available to Minnesota residents from various utility and government programs. In addition, nearly all people are eligible for the 30%federal tax credit.

  • Paying cash will lead to the most savings, but these days there are several options for financing solar panels that make great money sense as well. Your initial quotes will often contain information about financing options provided by installers.

  • Yes, the average time to recoup the cost of 5 kW solar panels in Little Falls, MN is 12 years, with homeowners saving an average of $9,818.8 on electricity over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01