Best 5 Solar Companies in Bloomington, MN

How To Choose the Best Solar Company in Bloomington

The more thorough your company investigation is, the better your solar installation will ultimately work. Make your choice based on the following important considerations.

Licensing and Training

To install a new photovoltaic system in Minnesota, a contractor must have an electrical contractors' or electricians' license from the Department of Labor and Industry, along with a residential building or remodeling contractors' license in some cases. If their work is regulated by the state's Mechanical Code, they must have a $25,000 minimum bond with the Department of Labor and Industry. You should also visit a company's website to learn about its private accreditations. Two of the most recognized are the PV Installation Professional and Solar Heating Installer certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.

Cost of Solar Panels in Bloomington

Your solar panels' style will influence how much electricity you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.

You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can maximize your solar system's efficiency. Not every solar company offers these optional components, so look for a provider that installs them if it's a priority for you.

You can expect to pay about $20,150 on average for a five-kilowatt solar energy system in Bloomington. Check the table in this section to get an idea of the amount Bloomington solar companies might quote for your specific solar system's price.

Financing Solar Energy in Bloomington

There are numerous ways to pay for a new solar system, and the right one will reduce your expenses. A few of the most common options include leases, cash payments, power purchase agreements (PPAs), and loans. Though it requires a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. Look for providers that offer multiple payment plans to find the right fit for your budget.

The table below lists the average payback periods for different capacities of solar systems in Bloomington.

A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Extra incentives may be available through local governments, usually in the form of rebates and special financing programs.