Solar Panels Cost 2.7k-13k in Osseo, MN | November, 2024

Solar Panels Cost $2.7k-$13k in Osseo, MN | November, 2024

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

The average cost per watt for a solar panel installation in Osseo, MN in November, 2024 is $3.92/W.

It will cost $3,920, on average, for every 1K (or 1000 watts) of capacity that your solar panels have. When you consider the 30% federal tax credit, a 5 kW solar panel system in Osseo will set you back $13,720. It's vital to consider that a more extensive system could be necessary to fulfill your energy requirements.

By selecting your county on the left, you can find out the average roof size and the maximum capacity for solar panels on homes in your area. The following outline, below, highlights 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.
Osseo: $13,720US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Osseo: 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.
Osseo: $4,352US Average: $16,169

Solar Potential in Osseo

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

Roof size 554sq. ft.
Capacity 7.75kW DC
Electricity 8.8kkWh AC per yr.

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

The standard monthly kWh usage for a Osseo resident is 587, with an average monthly bill of $99.80. Flats and other smaller residences with lower energy consumption are included in this figure.

In November 2024, the electricity rate in Osseo, MN is 17.02¢ per kWh.

In Osseo, typical consumers has to have a system size of 5 kW or greater to fully account for their entire energy consumption demands. The expense for a a 5 kW solar panel installation is approximately $19,600 before any incentives, but the federal tax credit gives you back 30%, bringing the price down to $13,720.

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Average solar panel costs by system size in Osseo

To the left, you'll see a detailed price breakdown of the different sizes of solar panel systems set up in Osseo. Even though a more extensive solar installation comes with a greater cost, it also provides greater electricity savings and larger income tax credits.

In the solar panel cost calculator found below and to the right, you can see a cost and benefit breakdown to match an average $99.80electric bill in Osseo. For custom results, update the $99.80 to what your average electricity bill is.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $246 a year
Est. Price
$2,744
Savings from a 1kWthis system
  • Est. yearly production 1,449 kWh
  • Est. monthly savings $21
  • Full payback in 2 years
Environmental Impacts
  • Reduces CO2 emissions by 0.81 tons a year
  • Equivalent to planting 37 trees a year
  • Equivalent to driving 1,994 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $493 a year
Est. Price
$5,488
Savings from a 2kWthis system
  • Est. yearly production 2,897 kWh
  • Est. monthly savings $41
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.61 tons a year
  • Equivalent to planting 74 trees a year
  • Equivalent to driving 3,989 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $739 a year
Est. Price
$8,232
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $62
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 2.42 tons a year
  • Equivalent to planting 111 trees a year
  • Equivalent to driving 5,983 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $985 a year
Est. Price
$10,976
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $82
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 3.22 tons a year
  • Equivalent to planting 148 trees a year
  • Equivalent to driving 7,978 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,231 a year
Est. Price
$13,720
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $100
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.93 tons a year
  • Equivalent to planting 180 trees a year
  • Equivalent to driving 9,718 mi less a year

Osseo Solar Panel Installation Incentives & Rebates | 2024

If you own a farm or small business in a rural area, the REAP Grant might cover between 80% and 100% of your solar energy or wind turbine installation costs. To see if you qualify, use our REAP Grant eligibility tool.

With the accessibility of a 30% federal income tax credit, solar energy becomes a feasible solution for most homeowners, especially in various parts of the country. Alongside federal incentives, there are many state and local initiatives to encourage solar energy adoption.

Minnesota residents have access to 12 solar rebate and incentive initiatives from different utilities and governmental agencies.

Solar incentives in MN

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 Osseo looking to stay beyond the payback period of their solar system, solar panels are the best choice. In Osseo, MN, a 5 kW solar system installation might save you $10,232 on average over 20 years, with a usual break even point of 11 years.

The cost of not having solar panels in Osseo, MN

Without solar panels or another backup power source, you miss out on the earlier mentioned savings and are entirely dependent on your electric utility for electricity. Recent news has proven that full reliance on your utility company isn't always ideal.

The average number of outages per customer per year in Osseo is 0.95. On average, the length of an outage is 100.99 minutes. Major events like tornadoes, grid management errors, or wildlife damage can cause these durations to rise considerably.

Even without a backup battery, a solar panel system could ease the strain of possible future power disruptions you may face.

Power Outages

Currently, 0 customers are being tracked in Hennepin County.

Learn more

Customers Out:

0

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

Your Energy Needs - Though the initial cost of larger solar panel systems is greater, the price per watt reduces as the system gets larger. For most homeowners, setting up a system that can generate enough power to eliminate their entire electric bill is advantageous, providing significant savings.

Make & Model - Like many other products, there are different makes and models of solar panels on the market. Your installer’s system preferences might necessitate choosing a recommended contractor. The selection of high-quality makes and models can substantially improve the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have emerged as the standard in the industry, and deservedly so. Despite the higher price tag, these panels provide greater energy output. Most installation experts use panels made from this material.

Your Property - Each property and residence is unique. Issues such as trees, uneven landscapes, or other impediments may add to the complexity of the installation. Most solar installers now are able to utilize satellite imagery to assess your home and incorporate these factors in the initial cost estimate.

Labor Rates - Employees receive varying wages from different companies, and these costs are passed on to the consumers. Higher wages typically lead to companies getting better reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees vary by area and will affect your final install price. Quality local installers will build these figures into your initial 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 Osseo?

All Energy Solar

St. Paul, MN(800) 620-3370

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.

Core Development Group

(201) 825-2195

Services

  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Solar Farm

St. Paul, MN(651) 271-8410

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Dividend Finance

Cincinnati, OH(415) 805-7000

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Sundial Energy

St. Louis Park, MN(952) 922-8560

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Reparation of batteries.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Consulting on all things solar related.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

LightEdison

Denver, CO(888) 966-6377

Services

  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Reparation of batteries.
  • Auditing of energy requirements for 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.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Osseo, MN Solar Panel Cost FAQs

  • As of November, 2024, the average cost for solar panels in Osseo, MN is $3.92/W. Installing a 5 kW solar panel system in Osseo, MN will cost approximately $13,720 after applying the federal tax credit.
  • 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 financially beneficial. Installers typically partner with financing companies and will include this information into your initial quotes.
  • Yes, the average 5 kW solar panel payback period in Osseo, MN stands at 11 years, yielding average electricity savings of $10,232 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-11-04