Posted by Brandi Casey on 14th Mar 2017
Minnesota boasts one of the countries strongest Renewable Portfolio Standards (RPS), with an impressive 25% requirement for utilities to source their power from a renewable energy source by the year 2025. In addition, to assist in job creation, the state passed the Solar Energy Jobs Act which mandates that solar provide 1.5% of energy sales by 2020, and encourages 10% by 2030. The largest utility, Xcel Energy, expects to not only reach but exceed those goals. This means that there is plenty of growth in the solar sector, with high demand for installers, engineers, and electricians with a background and knowledge on solar energy.
Xcel Energy also offers the unique Solar Rewards Program for photovoltaics which offers $0.01-$0.05 per kilowatt hour credit that can either be rolled over and held in a solar bank or, homeowners can choose to have the saves paid out to them on a yearly basis. The program also offers a rebate for Photovolatics up to $90,000, which is paid at $2.25 per install watts of DC Solar power; this power cannot exceed 40kw. Homeowners must enter into a 20-year contract with Xcel for all REC’s generated by the system during the contracts life. In addition, Xcel offers the Minnesota Made program, in which Xcel offers an additional $2.75 per watt DC offering a total of $5.00 per watt DC payout every five years. The company will also purchase any excess generation of the system through its net metering program. In order to qualify, applicants must be an Xcel customer, live in Minnesota and have an Xcel meter. Existing structures also can apply for these programs as long as they have had an energy audit within the last three years.
In addition, all Minnesota utilities must offer a solar
production incentive for systems of 20kw DC power or less. With the average
size of home systems being between 5 to 15kw, most residential applications
will be eligible for incentives regardless of their utility provider. Another
impressive program for Minnesota residents is the Value of Solar Tariff, which
is available for solar and other renewable applications. This tariff credits at
a retail rate toward future months and is an alternative to net metering for utility
companies that have not yet been established. To find out what solar incentives
are offered, Minnesota residents are encouraged to go to their utility provides
websites to find out further details and regulations.
Financial Incentives
Property Tax Incentive: |
|
Loan Program: |
|
Performance-Based Incentive: |
|
Sales Tax Incentive: |
|
Grant Program: |
|
Rebate Program: |
|
Loan Program: |
|
Performance-Based Incentive: |
|
PACE Financing: |
|
Corporate Tax Credit: |
|
Personal Tax Exemption: |
|
Corporate Depreciation: |
|
Corporate Tax Exemption: |
|
Personal Tax Credit: |
|
Corporate Tax Deduction: |
|
Regulatory Policies
Net Metering: |
|
Solar / Wind Access Policy: |
|
Energy Standards for Public Buildings: |
|
Renewables Portfolio Standard: |
|
Equipment Certification: |
|
Generation Disclosure: |
|
Public Benefits Fund: |
|
Interconnection: |
|
Building Energy Code: |
|
Other Policy: |
|
Energy Efficiency Resource Standard: |
|
Value of Solar Tariff: |
|
Green Power Purchasing: |
|
Appliance / Equipment Efficiency Standards: |
|