Each year several incentive programs have helped a limited number of Minnesotans to make the switch to solar energy for their home. One such program, Xcel Energy’s Solar*Rewards program, recently opened for applications in January, and funding for this year is getting reserved quickly. Last year, the program was fully allocated, and time may be limited for homeowners and business owners interested in applying to install solar arrays.
A federal investment tax credit (ITC) is also still available for a variety of green energy installations, including solar. This credit currently repays 30% of installation cost through 2019. However, the ITC is set to drop to 26% in 2020 and 22% in 2021 before expiring the following year.
Going solar is simpler than ever before. The first step is to
request a free solar assessment to determine if your property is a good candidate for solar. If it makes sense, we’ll take the lead on completing paperwork, as well as helping to structure monthly financing or other payment options.
In addition to federal and state tax incentives, going solar means:
- Reduced electricity bills and operating costs
- Immediate beginning of payback on investment
- The ability to capitalize on net metering programs
- A clean, renewable energy source that benefits our environment
- Control of your energy supply; less dependence on your electric company and its power grid
Unlike solar energy, funds for programs like Xcel Energy’s Solar*Rewards aren’t unlimited. Applications often require a bid, which in turn, requires a
free solar assessment to be scheduled. If you’re thinking about going solar and want to take advantage of the best financial incentives, it’s time to get started!
