Solar Panels Cost 8.1k-18k in Oak Grove, MN | October, 2024

Solar Panels Cost $8.1k-$18k in Oak Grove, MN | October, 2024

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How much do solar panels cost in Oak Grove, MN in 2024?

For the month of October, 2024, the price per watt for solar panel systems in Oak Grove, MN is $3.87/W, on average.

In other words, solar panel installations will cost you about $3,870 per 1 kW (or 1000 watts) of production capacity. When you subtract the 30% federal tax credit, you will pay around $13,545 for a 5 kW panel install in Oak Grove. However, a 5kW system may not be big enough to ensure your energy needs are met.

To the left, you can select your county to find out the average roof size and the maximum capacity of solar panels for houses in your area. You can review the costs, payback period, and 20-year average savings for a 5 kW system in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Oak Grove: $13,545US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Oak Grove: 11 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Oak Grove: $5,500US Average: $15,784

Solar Potential in Oak Grove

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

Roof size 697sq. ft.
Capacity 9.75kW DC
Electricity 10.9kkWh AC per yr.

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

The average electricity bill in Oak Grove, for a usage of 773 kWh per month, is $103.54. This figure also factors in the energy needs of apartments and smaller dwellings.

In October 2024, the average electricity rate in Oak Grove, MN amounts to 13.4¢ per kWh.

In Oak Grove, average users will require a system size of 7 kW or greater to fully meet their entire energy usage requirements. The cost of a a 7 kW solar system is approximately $27,090 initially, but the federal tax credit provides a 30% credit, reducing your total to $18,963.

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Average solar panel costs by system size in Oak Grove

Presented on the left, you will find a cost summary for different solar panel system sizes installed in Oak Grove. The bigger the solar array, the larger the initial expense, but also the greater electricity savings and income tax credits you'll receive.

The breakdown of costs and benefits for solar panels, displayed in the calculator below and to the right, is based on an average electric bill of $103.54 in Oak Grove. For more specific results, just change the $103.54 with whatever your average electricity bill is.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $565 a year
Est. Price
$8,127
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $47
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.77 tons a year
  • Equivalent to planting 81 trees a year
  • Equivalent to driving 4,377 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $753 a year
Est. Price
$10,836
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $63
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.36 tons a year
  • Equivalent to planting 108 trees a year
  • Equivalent to driving 5,837 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $942 a year
Est. Price
$13,545
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $78
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 2.95 tons a year
  • Equivalent to planting 135 trees a year
  • Equivalent to driving 7,296 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,130 a year
Est. Price
$16,254
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $94
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.54 tons a year
  • Equivalent to planting 162 trees a year
  • Equivalent to driving 8,755 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,318 a year
Est. Price
$18,963
Savings from a 7kWthis system
  • Est. yearly production 10,141 kWh
  • Est. monthly savings $104
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 3.91 tons a year
  • Equivalent to planting 179 trees a year
  • Equivalent to driving 9,669 mi less a year

Oak Grove Solar Panel Installation Incentives & Rebates | 2024

The financial burden of installing photovoltaic or wind turbines for rural agricultural enterprises and small businesses could be eased with the REAP Grant, covering 80% to 100% of the costs. If you think you might be eligible, try our REAP Grant eligibility tool to check your qualification.

Almost all residents are eligible for the 30% federal income tax credit for residential solar, which makes it a viable option in various states in the country. State and local governments offer various programs to promote the switch to solar energy.

A total of 12 solar incentive and rebate programs are available in Minnesota from various utilities 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 Oak Grove expecting to remain in their homes after the payback period for solar panels, solar energy is a sensible choice. A 5 kW system in Oak Grove, MN will help you save the average homeowner, on average, $11,304.6 over a 20 period and the average break even point is 11 years.

The cost of not having solar panels in Oak Grove, MN

Apart from the savings noted earlier, failing to install solar panels or an alternative energy backup leads to you being wholly dependent on your electric utility for power supply. Total dependence on your utility provider isn't always ideal, as recent examples in the news have demonstrated.

In recent times, the average number of utility outages per customer annually in Oak Grove has been about 0.29. Typically, outages have an average duration of 27 minutes. However, during significant events such as wildfires, overloaded power grids, or wildlife damage, these times can drastically increase.

A solar panel system could lessen the inconvenience of future outages, even if it doesn't have a backup battery.

Power Outages

Currently, 0 customers are being tracked in Anoka County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Oak Grove, MN?

Your Energy Needs - The price per watt reduces with larger solar panel systems, even though the upfront cost is higher. Setting up a solar system that produces sufficient electricity to offset their electric bill is advantageous to most homeowners, resulting in savings.

Make & Model - Like many other products, there are various makes and models of solar panels available. It's crucial to pick a highly rated contractor, considering the brand preferences that installers may have. Superior quality materials generally lead to a more favorable long-term experience for buyers.

Solar Panel Type - Monocrystalline panels are widely recognized as the industry standard, and deservedly so. Despite the higher price tag, these panels produce greater energy output. Many installation experts use panels constructed from this material.

Your Property - Each property and home presents unique challenges. Trees, sloped land, or other impediments may complicate the installation process. Nowadays, the most solar installers can assess your home with satellite images and incorporate these factors in the preliminary cost estimate.

Labor Rates - The pay that various companies offer their employees differ, and these expenses are passed on to the consumers. Paying higher wages frequently results in businesses receiving better reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which differ by area, will affect your installation cost. That said, quality local installers will be able to incorporate these numbers into your initial quotes so there are no surprises.

See what solar panels cost in other MN cities

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Who are the best solar installers in Oak Grove?

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.

Oak Grove, MN Solar Panel Cost FAQs

  • During October, 2024, the average price for solar panel installations in Oak Grove, MN is $3.87/W. Post federal tax credit, a 5 kW solar panel system installation in Oak Grove, MN will roughly cost $13,545.

  • Various utility providers and government organizations in Minnesota are offering 12 rebates and incentives at this time. In addition, nearly all people are eligible for the 30%federal tax credit.

  • Even though paying cash offers the most savings, there are now numerous financing options for solar panels that also are cost-effective. Information about financing options is typically included in initial quotes provided by installers.

  • Yes, solar panels systems of 5 kW in Oak Grove, MN typically have a payback period of 11years, with expected savings on electricity costs of $11,304.6 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01