Policy
Para la versión en español, por favor oprima aquí.
Solar energy production offers untapped potential in Minnesota
Solar energy installations are more common than ever before, with the industry continuing to see steady growth nationwide. Across Minnesota, there is considerable potential for residential, community, and utility-scale
solar projects.
- Nationally, the solar industry grew by 25.1% between 2021 and 2022. In Minnesota, the industry grew 3.3% during the same period.
- In 2022, Minnesota ranked 17th among U.S. states and territories in solar power production, with the state receiving 3.71% of its electricity from solar.
- The 176 companies involved in the manufacturing and installation of solar, or related activities, have created 4,643 jobs in the state.
- Minnesota ranks 19th among states for total energy consumed per capita.
Solar energy installation is more affordable
- In the past decade, the cost to install solar has dropped by more than 40%.
- Prices in Minnesota have also dropped by 42% over the past 10 years.
- As of March 2024, Minnesota’s average residential solar panel system costs $3.13 per watt, including installation. For a 5-kilowatt installation, this comes to about $15,635 before incentives, though prices range from $13,290 to $17,980.
- By taking advantage of the federal solar investment tax credit, the average price drops by 30% for solar systems installed on residential properties.
- Solar accounted for 48% of all new electricity-generating capacity added to the U.S. grid through the first three quarters of 2023.
