Best 5 Solar Companies in Minneapolis, MN

How To Choose the Best Solar Company in Minneapolis

Choosing a company is the first step toward a well-oiled and valuable solar array. Make your choice based on the following crucial aspects.

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. Solar providers can also earn certificates from trade groups and standards organizations. The most recognized ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.

Cost of Solar Panels in Minneapolis

Your solar panels' model will influence how much energy you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.

You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can improve your solar system's performance. Not every solar provider provides these optional components, so look for a contractor that installs them if it's crucial for you.

Generally speaking, it will cost about $20,150 for a five-kilowatt solar array in Minneapolis. This table shows more specific costs for different solar panel types and system components in your area.

Financing Solar Energy in Minneapolis

Choosing the best financing solution will affect your overall solar system cost and potential savings. Common payment options include loans, leases, power purchase agreements, and cash payments. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you rent your panels for a set monthly rate, while PPAs let you pay only for the energy you use, much like an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each installer you're vetting about the payment plans it offers. A staff member can help you determine the most suitable option for your budget.

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

You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. Local and state governments and utility companies might also offer discounts, rebates, and unique financing solutions that could save you more.