Cost & Savings Breakdown
Based on $150/month electric bill in Minneapolis
System Size
8 kW
Annual Production
10,504 kWh
Gross System Cost
$24,780
Federal Tax Credit (30%)
-$7,434
State Incentive
-$1,500
Net Cost
$15,846
Monthly Savings
$122
CO₂ Offset/yr
9,663 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$0.139/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 Minneapolis?
Solar in Minneapolis, Minnesota costs approximately $24,780 for a 8 kW system. After the 30% federal tax credit, your net cost is about $15,846.
What is the solar payback period in Minneapolis?
The estimated payback period for solar in Minneapolis is 10.9 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.