Solar Panels Cost 7.8k-18k in Maple Lake, MN | October, 2024

Solar Panels Cost $7.8k-$18k in Maple Lake, MN | October, 2024

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How much do solar panels cost in Maple Lake, MN in 2024?

Going solar averages out to $3.72 per watt in Maple Lake, MN in the month of October, 2024.

Applying the rate per watt, solar panel installations will cost you about $3,720 per 1000 watts (1 kW) of generation capacity. Typically, the cost of a 5 kW solar panel install in Maple Lake, after a 30% federal tax credit, is approximately $13,020. A more powerful system may be required to satisfy your energy demands.

On the left-hand side, you can choose your county to find out the average roof size and the maximum capacity for solar panels in residences in your area. The following summary, 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.
Maple Lake: $13,020US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Maple Lake: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Maple Lake: $9,758US Average: $15,784

Solar Potential in Maple Lake

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

Roof size 715sq. ft.
Capacity 10kW DC
Electricity 11.7kkWh AC per yr.

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

For Maple Lake energy consumers, the typical electric bill is $118.16 per month, with a usage of 802 kWh. Bear in mind that this figure encompasses apartments and smaller homes with generally reduced energy requirements.

The average rate for electricity in Maple Lake, MN during October, 2024 is 14.73¢ per kWh.

In Maple Lake, the average electricity consumer needs a solar power setup of 7 kW or larger to account for their entire power usage needs. The estimated cost for a 7 kW solar installation will be $26,040 before incentives, but with a 30% federal tax credit, it drops to $18,228.

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Average solar panel costs by system size in Maple Lake

Located below and to the left, there is the pricing details for various sizes of solar panel systems installed in Maple Lake. While a more extensive solar installation comes with a larger expense, it also offers greater electricity savings and more substantial income tax credits.

Using the solar panel cost calculator located below and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $118.16 in Maple Lake. Replace the $118.16 with your typical electricity bill to get more detailed results.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $652 a year
Est. Price
$7,812
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $54
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.84 tons a year
  • Equivalent to planting 84 trees a year
  • Equivalent to driving 4,542 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $869 a year
Est. Price
$10,416
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $72
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 2.45 tons a year
  • Equivalent to planting 112 trees a year
  • Equivalent to driving 6,056 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,087 a year
Est. Price
$13,020
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $91
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 3.06 tons a year
  • Equivalent to planting 140 trees a year
  • Equivalent to driving 7,571 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,304 a year
Est. Price
$15,624
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $109
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.67 tons a year
  • Equivalent to planting 169 trees a year
  • Equivalent to driving 9,085 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,521 a year
Est. Price
$18,228
Savings from a 7kWthis system
  • Est. yearly production 10,141 kWh
  • Est. monthly savings $118
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.99 tons a year
  • Equivalent to planting 183 trees a year
  • Equivalent to driving 9,866 mi less a year

Maple Lake Solar Panel Installation Incentives & Rebates | 2024

Rural entrepreneurs and farmers might find that the REAP Grant pays for 80% to 100% of their costs when installing solar energy or wind energy systems. Wondering if you are eligible? Our REAP Grant eligibility tool can help you find out.

Homeowners can benefit from a 30% federal income tax credit for installing residential solar panels, which makes solar power a feasible option across much of the country. Moreover, many state and local programs are intended to encourage more people to adopt solar power.

In Minnesota, multiple utilities and government organizations offer 12 solar rebate and incentive programs.

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 expect living in your home longer than the solar system's payback period, adding solar panels is an smart decision in Maple Lake. Installing a 5 kW solar system in Maple Lake, MN will, on average, save you $15,338.4 over 20 years, and you can expect to break even in about 9 years.

The cost of not having solar panels in Maple Lake, MN

The absence of solar panels or another backup power source results in missing out on the previously highlighted savings and full dependence on your electric utility for power. Recent news coverage has revealed that total dependence on your utility company isn't always the most favorable scenario.

The utilities in Maple Lake have averaged about 0.78 outages per customer per year recently. On average, the length of an outage is 85.85 minutes. Major events like thunderstorms, equipment failure, or vandalism can cause these durations to rise considerably.

A solar energy system could help mitigate the effects of future outages, with or without a backup battery.

Power Outages

Currently, 0 customers are being tracked in Wright County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Maple Lake, MN?

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Consumers often find that setting up a solar system that can offset their entire electric bill is useful, resulting in optimal savings.

Make & Model - There are a wide variety of makes and models of solar panels. Because the installer you select might have particular brand preferences, choosing a reputable contractor is even more important. Consumers who opt for better equipment usually enjoy a more favorable long-term experience.

Solar Panel Type - Monocrystalline panels have established themselves as the standard in the industry, and justifiably so. Even with a higher cost, this technology generate more energy. Many installers choose panels made using this material.

Your Property - Every home and property differs in its own way. Challenges like uneven land, trees, or additional challenges can increase the difficulty of installing solar panels. These days, the majority of solar installers are able to utilize satellite images to assess your home and incorporate these elements for the preliminary cost estimate.

Labor Rates - The pay employees get from their employers are different, and these expenses are transferred to the consumers. Businesses often get higher reviews for their services and customer service when they offer better wages.

Permitting & Interconnection - The final price of your installation will be affected by local permitting and utility interconnection fees, which vary by location. Quality local installers will include these figures in your first estimates to ensure transparency.

See what solar panels cost in other MN cities

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Who are the best solar installers in Maple Lake?

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.

Maple Lake, MN Solar Panel Cost FAQs

  • The cost per watt for solar panels in Maple Lake, MN during October of 2024 averages $3.72/W. For a 5 kW solar panel system, the total cost in Maple Lake, MN after federal tax credits is around $13,020.

  • Residents of Minnesota can currently take advantage of 12 rebates and incentives offered by various utilities and government bodies. Furthermore, the majority of people qualify for the 30% federal tax credit.

  • Even though paying cash yields the best savings, there are now multiple financing options for solar panels that are also advantageous. Information about financing options is typically provided in initial quotes provided by installers.

  • Yes, the average 5 kW solar panel payback period in Maple Lake, MN stands at 9 years, yielding average electricity savings of $15,338.4 over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01