Solar Panel Energy Savings

Homeowners, Farmers, and Businesses are $aving with Solar

Homeowners in Minnesota can expect substantial long-term savings by installing solar panels, despite the state’s colder climate and shorter winter days. Here’s a concise overview of the average savings potential, costs, and incentives as of 2025:

4 Reasons Solar Makes Sense for Your Rogers Home or Business

Save on Energy Costs

Reduce or eliminate your electric bill

Increase Value

Solar homes sell for 4.1% more Businesses see higher Return on Investment

Tax Credits & Incentives

Federal & local incentives available for both homeowners and businesses

Independence & Sustainability

Protect against power outages & reduce your carbon footprint

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Average Savings Over 25 Years

Minnesota homeowners typically save between $24,000 and $45,000 over the 25-year lifespan of a solar panel system, depending on system size, electricity rates, and local incentives.

For example, in Minneapolis, a 5-kW system yields approximately $36,942 in savings over 25 years, with a payback period of about 11 years.

In Mound, MN, the same system offers around $40,050 in savings, with a payback period of 11.6 years.

Statewide, the average homeowner sees $41,212 in total energy savings over 25 years.

Monthly Energy Savings

Monthly savings vary based on system size and household energy consumption. For instance, in Coon Rapids, MN, a 5-kW system can save homeowners about $82.34 per month, totaling nearly $988 annually.