Solar Panels Cost 5.4k-16k in Worthington, MN | October, 2024

Solar Panels Cost $5.4k-$16k in Worthington, MN | October, 2024

High Power Bills?

Reduce or replace your electricity bill with solar

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

For solar panels in Worthington, MN, the cost per watt in October, 2024 is , on average, $3.88/W.

You should expect to pay $3,880, on average, for every 1000 watts (or 1 kW) of solar energy your solar panels will need to produce. We can come up with this number by applying this rate price cost per watt. When you consider the 30% federal tax credit, a 5 kW solar panel install in Worthington will cost approximately $13,580. Depending on your electricity consumption habits, you may need a bigger system.

By selecting your county on the left, you can determine the typical roof size and the average maximum capacity for residential solar panel systems in your area. You can also see an analysis of the costs, payback period and 20 year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Worthington: $13,580US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Worthington: 14 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Worthington: $-649US Average: $15,784

Solar Potential in Worthington

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

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

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

For Worthington energy consumers, the average electric bill is $78.13 per month, with a usage of 628 kWh. Small apartments are also included in the statistics mentioned in the previous sentence. The lower energy use in these types of dwellings impacts those averages.

The average rate for electricity in Worthington, MN in October, 2024 is 12.43¢ per kWh.

If you’re a typical electricity user in Worthington you has to have a 6 kW or higher sized system to cover your full energy requirements. Upfront, a 6 kW setup is priced at $23,280, but after a 30% tax credit, the total cost is $16,296.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Worthington

To the left side and below, there is the cost summary for multiple sizes of the solar panel systems installed in Worthington. Of course, with a more extensive solar system, you will have a larger initial investment, but the benefits consist of higher electricity savings and larger income tax credits.

In the solar panel cost calculator situated to the right and below, you can examine a cost and benefit breakdown to match an average $78.13electric bill in Worthington. Adjust the $78.13 to align with your average electricity bill payment for more tailored results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $348 a year
Est. Price
$5,432
Savings from a 2kWthis system
  • Est. yearly production 2,897 kWh
  • Est. monthly savings $29
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.36 tons a year
  • Equivalent to planting 63 trees a year
  • Equivalent to driving 3,371 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $522 a year
Est. Price
$8,148
Savings from a 3kWthis system
  • Est. yearly production 4,346 kWh
  • Est. monthly savings $43
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.04 tons a year
  • Equivalent to planting 94 trees a year
  • Equivalent to driving 5,056 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $695 a year
Est. Price
$10,864
Savings from a 4kWthis system
  • Est. yearly production 5,795 kWh
  • Est. monthly savings $58
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 2.72 tons a year
  • Equivalent to planting 125 trees a year
  • Equivalent to driving 6,741 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $869 a year
Est. Price
$13,580
Savings from a 5kWthis system
  • Est. yearly production 7,244 kWh
  • Est. monthly savings $72
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 3.4 tons a year
  • Equivalent to planting 156 trees a year
  • Equivalent to driving 8,426 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,043 a year
Est. Price
$16,296
Savings from a 6kWthis system
  • Est. yearly production 8,692 kWh
  • Est. monthly savings $78
  • Full payback in 17 years
Environmental Impacts
  • Reduces CO2 emissions by 3.67 tons a year
  • Equivalent to planting 168 trees a year
  • Equivalent to driving 9,073 mi less a year

Worthington Solar Panel Installation Incentives & Rebates | 2024

With the REAP Grant, up to 100% and no less than 80% of the installation costs for solar or wind turbines may be covered for rural small business owners and farmers. If you believe yourself eligible, we recommend utilizing our REAP Grant eligibility tool to confirm your qualification.

Almost all homeowners can qualify for the 30% federal income tax credit for residential solar, making solar energy a sensible option in most parts of the country. Besides the federal incentives, state and local programs also work to boost solar energy uptake.

Multiple utilities and governmental bodies in Minnesota 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 your intention is to stay in your home beyond the solar payback period, installing solar panels is a wise option in Worthington. In Worthington, MN, the installation of a 5 kW solar system can save you an average of $5,171.2 over 20 years, with an average break even point of 14 years.

The cost of not having solar panels in Worthington, MN

Without solar panels or another energy backup source, you lose out on the savings highlighted earlier and are completely dependent on your electric utility for power. Total dependence on your utility provider is not always ideal, as recent examples in the news have highlighted.

Annually, the average number of outages per customer in Nobles County is about 1.61. On average, an outage lasts 121.13 minutes. When major events such as lightning strikes, construction accidents, or equipment failure occur, these durations can increase significantly

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

Power Outages

Currently, 0 customers are being tracked in Nobles County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

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

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Setting up a solar system that produces sufficient electricity to eliminate their electric bill is advantageous to most individuals, ensuring savings.

Make & Model - Just like many products, solar panels are offered in a wide variety of makes and models. Given the certain brand preferences an installer might have, choosing a highly rated installer is crucial. For buyers seeking a better long-term experience, choosing superior quality models is critical.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide more energy. The majority of installers work with panels made from this material.

Your Property - Challenges like trees, sloping terrain, or additional obstacles can increase the difficulty of installing solar panels. Nowadays, solar installers frequently leverage satellite images to assess your home and incorporate these elements into the initial cost estimate.

Labor Rates - Differences in employee wages across companies result in expenses that are transferred to the consumers. Reviews for work and customer service are often higher for businesses that pay higher wages.

Permitting & Interconnection - Installation costs will be affected by regularly changing local permitting and utility interconnection fees, depending on the region. Good local installers will integrate these figures into your first estimates to prevent any surprises.

See what solar panels cost in other MN cities

Go Solar for less than your cell phone bill.

Who are the best solar installers in Worthington?

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.

Worthington, MN Solar Panel Cost FAQs

  • In October, 2024, the typical price per watt for solar panels in Worthington, MN is $3.88/W. After federal tax credits, the installation of a 5 kW solar panel system in Worthington, MN is estimated to cost $13,580.

  • There are 12 rebates and incentives available in Minnesota from a range of utility providers and government organizations. Additionally, almost everyone is entitled to the 30% federal income tax credit.

  • Paying cash offers the most savings, yet there are several financing options available today for solar panels that are also beneficial. Many installers work with financing partners and will provide this information in your initial quotes.

  • Yes, homeowners in Worthington, MN generally see a payback time of 14 years for 5 kW solar panel systems, with electricity savings averaging $5,171.2 over a 20-year period.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01