Cost & Savings Breakdown
Based on $150/month electric bill in Bloomington
System Size
7.1 kW
Annual Production
9,359 kWh
Gross System Cost
$22,080
Federal Tax Credit (30%)
-$6,624
State Incentive
-$1,500
Net Cost
$13,956
Monthly Savings
$122
CO₂ Offset/yr
8,610 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityXcel Energy MN
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity Limit120% of annual consumption
Electricity Rate$0.156/kWh
Peak Sun Hours4.5 hrs/day
Available Incentives
30%
Federal ITC — Deduct 30% of your system cost from federal taxes. Available through 2032.
$1,500
Minnesota State Incentive — Minnesota offers a Solar*Rewards program rebate.
Common Questions
How much does solar cost in Bloomington?
Solar in Bloomington, Minnesota costs approximately $22,080 for a 7.1 kW system. After the 30% federal tax credit, your net cost is about $13,956.
What is the solar payback period in Bloomington?
The estimated payback period for solar in Bloomington is 9.6 years, based on a $150/month electric bill and local sun hours of 4.5 hrs/day.
Does Xcel Energy MN offer net metering?
Xcel Energy MN offers Full Retail net metering. Full retail rate.