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Red Wing mn residents who switch to solar are eligible for these local, state and federal tax programs.
|Program Name||Program Type||Amount|
|Residential Renewable Energy Tax Credit||Tax Credit||30% before 2020 26% during 2020 22% during 2021|
|Residential Energy Conservation Subsidy Exclusion (Personal)||Tax Exemption||Full rebate amount excluded from taxable income|
|Made in Minnesota Solar PV Incentive Program||Performance Incentive||$.23-.30; 10 year contract|
|Net Metering||Utility Credit||Excess power credited to customer's next bill or paid for at average retail utility energy rate.|
|Wind and Solar-Electric (PV) Systems Exemption||Property Tax Exemption||Exclusion for 100% of the assessed value of eligible property|
|Solar Energy Sales Tax Exemption||Sales Tax Exemption||Exemption for full amount of equipment purchase|
The main cost of a solar system is the panels, which will vary depending on your power and roof needs. Newer ones are expected to last 25 years in good conditions. Inverters tend to cost around $500 and usually need to be replaced in 5-10 years, but this will depend on the inverter type. Other costs include frames to hold the panels, wiring, etc, and are relatively small.
|Altenergy Power System||11||YC500A (240V)|
|SolarEdge Technologies||4||SE10000A-US (240V)|
|Enphase Energy||2||M250-60-2LL-S2x (-ZC) (-NA) (240V)|
|SolarEdge Technologies||2||SE3800 (240V)|