How Much Will Solar Cost?

Posted on: November 7th, 2017 by admin

“Well, what color is your house?”…..have you ever been given this not super helpful response after asking “how much will solar cost for my property?” The real answer is actually not mystifying or complicated. Minnesota residential solar arrays are priced generally between $10,000 – $30,000 upfront depending on the size of system. A larger home may require a $20k+ system while a smaller garage set up may only cost $10-$12k. All systems qualify for the 30% tax credit and several utility companies such as Dakota Electric and Xcel Energy offer additional rate based incentives in addition to the energy savings. Net system cost is typically 30-50% of upfront cost and payback can be 6-12 years depending on all of the variables. Additionally, there are many financing options to assist. And while the simple financial payback of the clean energy solution may be 6-12 years – there is a point much sooner the cost of solar becomes a no-brainer. Simply put – in three years, would you rather be $6k in the hole and continuing to pay your current electric bill without solar (going deeper in the hole), or would you rather be $6k in the hole, 3 years into your clean energy investment and a few years from breaking even with your own clean energy power plant? Real payback is much sooner than 6-12 years. This is a win-win-win situation! And to help calculate your solar system’s cost event faster, please be prepared to provide your properties annual kilowatt hour usage from your utility bill or provider. We look forward to giving you excellent information to help get you started with a residential solar energy system that will create clean sustainable energy for you and your family!
Feel free to contact our TruNorth Solar Energy Consultants at 612.888.9599 or www.TruNorthSolar and we would be happy to review your properties solar options with available incentives.