Solar Panels Cost 2.6k-13k in Stacy, MN | October, 2024

Solar Panels Cost $2.6k-$13k in Stacy, MN | October, 2024

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

On average, in Stacy, MN in the month of October, 2024, the cost per watt for going solar is $3.74/W.

In accordance with this cost, we can come to the conclusion that for every 1000 watts (1 kW) of solar power capacity will require an investment of $3,740 for installation. Typically, the cost for a 5 kW solar panel system in Stacy, after you subtract 30% federal tax credit, is $13,090. Please note that a larger system could be needed to satisfy your energy needs.

To the left, you can select a county to view the average roof size and the average maximum generation capacity for residential solar on homes in your area. Outlined below are 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.
Stacy: $13,090US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Stacy: 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.
Stacy: $5,185US Average: $15,784

Solar Potential in Stacy

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

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

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

In Stacy, energy consumers usually see an average electric bill of $99.52 each month, with an average consumption of 594 kWh. It is important to note that this number also encompasses smaller residences like apartments, which usually use lower energy.

For October 2024, the mean electricity rate in Stacy, MN is 16.76¢ per kWh.

To cover all of their power consumption needs of a typical user in Stacy, a solar system of 5 kW or higher is necessary. The initial cost for a 5 kW solar system amounts to $18,700, but after receiving a 30% federal tax credit, your total comes down to $13,090.

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Average solar panel costs by system size in Stacy

Presented on the left and below is the price breakdown for different sizes of solar panel systems set up in Stacy. Although a bigger solar installation comes with a greater cost, it also offers higher electricity savings and more substantial income tax credits.

The solar panel cost and benefit breakdown, visible in the calculator to the right and below, is based on an average electric bill of $99.52 in Stacy. If you desire customized results, modify the $99.52 to your average electricity bill amount.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $246 a year
Est. Price
$2,618
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 0.8 tons a year
  • Equivalent to planting 37 trees a year
  • Equivalent to driving 1,984 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $493 a year
Est. Price
$5,236
Savings from a 2kWthis system
  • Est. yearly production 2,897 kWh
  • Est. monthly savings $41
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 1.6 tons a year
  • Equivalent to planting 74 trees a year
  • Equivalent to driving 3,969 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $739 a year
Est. Price
$7,854
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 2.41 tons a year
  • Equivalent to planting 110 trees a year
  • Equivalent to driving 5,953 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $985 a year
Est. Price
$10,472
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 3.21 tons a year
  • Equivalent to planting 147 trees a year
  • Equivalent to driving 7,938 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,231 a year
Est. Price
$13,090
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 3.91 tons a year
  • Equivalent to planting 179 trees a year
  • Equivalent to driving 9,669 mi less a year

Stacy 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. To see if you qualify, use our REAP Grant eligibility tool.

Nearly all homeowners can benefit from the federal 30% income tax credit for solar panels, which turns installing solar energy a sensible choice in numerous regions of the U.S. Additionally, there are numerous state and local incentives to further encourage the adoption of solar energy.

In Minnesota, various utilities and government agencies 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?

For those planning to remain in their homes after the solar system's payback period, installing solar panels is a clear choice in Stacy. Having a 5 kW solar system in Stacy, MN can potentially save you roughly $10,794.8 over a span of 20 years, with an average break even point of 11 years.

The cost of not having solar panels in Stacy, MN

In addition to forgoing the savings, the absence of solar panels or another backup energy source leads to full dependence on your electric utility for your power needs. Complete reliance on your utility provider is not always ideal, as recent examples in the news have demonstrated.

In recent years, Stacy has seen an average of 0.95 utility outages per customer each year. Outages generally last for an average of 114.46 minutes. During major occurrences like lightning strikes, grid management errors, or construction accidents, these times can extend significantly.

A solar panel system, regardless of whether it includes a backup battery or not, could lessen the impact of future power outages you might face.

Power Outages

Currently, 0 customers are being tracked in Isanti County.

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Customers Out:

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

Your Energy Needs - Larger solar panel systems come with a greater upfront cost, but the price per watt is decreased. Setting up a solar panel system that can cover the electric bill is advantageous to consumers because of the savings gained.

Make & Model - Just like any other product, solar panels and mounting equipment are offered in a range of makes and models. Because the installer you choose might have particular system preferences, selecting a reputable installer is even more important. The selection of superior makes and models can greatly better the long-term experience for buyers.

Solar Panel Type - There's a good reason why monocrystalline panels are now considered the industry standard. Despite the higher price tag, these panels generate greater energy output. The majority of installation experts use panels constructed from this material.

Your Property - No two properties or homes are the same. Trees, irregular terrain, or additional hurdles can make the installation process more challenging. Today, many solar installers can assess your home with satellite images and factor in these considerations in the initial cost estimate.

Labor Rates - Companies pay varied wages to their employees, and these costs are inevitably passed on to the consumers. Businesses paying higher wages typically receive better reviews for their work and customer service.

Permitting & Interconnection - The cost of installation will change depending on local permitting and utility interconnection fees. Reputable local installers will include these figures in your initial estimates to ensure transparency.

See what solar panels cost in other MN cities

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Who are the best solar installers in Stacy?

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.

Stacy, MN Solar Panel Cost FAQs

  • During October, 2024, the average price for solar panel installations in Stacy, MN is $3.74/W. A 5 kW solar panel system will cost you around $13,090 in Stacy, MN after the federal tax credit is applied.

  • Currently, Minnesota residents can benefit from 12 rebates and incentives available through various utilities and government bodies. On top of that, nearly everyone can qualify for the 30% federal tax credit.

  • Opting for cash payments yields the highest savings, but there are now various financing options for solar panels that are cost-effective. Financing details are often provided by installers and may be included in your initial quotes.

  • Yes, on average, 5 kW solar panels in Stacy, MN pay for themselves in 11 years, with homeowners saving approximately $10,794.8 on electricity over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01