Are Solar Panels Worth It in Minnesota? Data-Backed Analysis
✓
Yes
Solar panels are a strong investment in Minnesota based on available data.
The Numbers
Average System Cost
$385,475
90.7 kW system
After Federal ITC
$269,833
30% tax credit applied
Total Installations
16,804
85% residential
Factors in Favor
- ✓16,804 installations demonstrate strong market adoption
- ✓Federal 30% Investment Tax Credit available to all homeowners
- ✓85% residential - strong homeowner adoption
Things to Consider
- !Above-average installation cost ($4.25/W vs national $4.18/W)
Minnesota vs National Average
| Metric | Minnesota | National |
|---|---|---|
| Cost per Watt | $4.25 | $4.18 |
| Total Installations | 16,804 | 3,426,466 |
| Total Capacity | 1,524 MW | - |
Frequently Asked Questions
The average solar system in Minnesota costs approximately $385,475 (avg 90.7 kW system at $4.25/W). After the 30% federal ITC, your net cost would be around $269,833.
All Minnesota homeowners are eligible for the federal 30% Investment Tax Credit (ITC), which reduces the cost by approximately $115,643. Additional state and local incentives may further reduce your costs. Visit our Minnesota incentives page for a complete breakdown.
Minnesota has 16,804 solar installations, showing strong market adoption. Combined with competitive costs and available incentives, solar is a strong investment in Minnesota.
Source: LBNL Tracking the Sun, U.S. Department of Energy, EIA. Costs and savings are estimates based on average residential installations and may vary.