Minnesota Solar Rebates
When
you think of Minnesota, you think of harsh winters – hardly a place
that would be very conducive to solar power. Think again, however.
Minnesota is one of the most alternative energy progressive states in
the country, demonstrating that when it comes to developing alternative
energy sources, there should be no excuses.
State Loans
- NEC Minnesota Energy Loan Program. This
program is available to Minnesota residents that make less than $91,300
per year. The amounts range from $2,000-$35,000, with an interest rate
of 0.06% and terms of 1-20 years. It is intended to fund energy
efficient improvements to homes, and photovoltaic systems are included
under the classification.
State Rebates
- Solar Hot Water Rebate Program. This
rebate is offered to Minnesota residences for the installation or
repair of solar hot water heaters. The amounts vary based upon the
system and the extent of the replacement or repair.
- Solar Electric State Rebate Program. This
state-sponsored rebate program allows for residences and commercial
sectors to receive an up-front rebate on the cost of a solar-energy
system. The incentive is $2.25 per watt DC with a maximum award of
$20,000.
Sales Tax Exemption
- Solar Sales Tax Exemption. This program allows all solar-related equipment to be void of any sales tax.
Property Tax Exemption
- Wind and Solar Electric (PV) Systems Exemption. This
program applies to both residential and commercial sectors. It allows
for any value added to your property by the installation of a solar
system to be excluded from property tax.
In
addition to these state-sponsored incentives, the list of utility
companies offering incentives is incredibly long. Minnesota also offers
a net metering program. Combined, all of these incentives help to make
solar power in Minnesota quite affordable.
Additional Resources
