Is solar worth it in 55418 (Minneapolis, MN)?

With an average payback period of 12.4 years and 25-year savings of $29,525, solar panels in Minneapolis, Minnesota can be worthwhile with available incentives.

How much do solar panels cost in 55418?

The average cost of a 6kW residential solar system in Minneapolis, Minnesota is $14,600 before incentives. The federal 30% Investment Tax Credit reduces this to about $10,220.

How much solar electricity does 55418 get?

Minneapolis receives 4.65 kWh/m²/day of solar irradiance. A 6kW system in zip code 55418 produces approximately 8,147 kWh per year.

Solar Panel ROI in 55418

Minneapolis, Minnesota — Is solar worth it here? Here's what the data says.

2.0x ROI Score

12.4 yrs Payback Period

$1,181/yr Annual Savings

$29,525 25-Year Savings

Your savings estimate

$ /mo bill

Annual savings $1,181

Payback 12.4 yrs

25-yr savings $29,525

Solar Calculator for 55418 (Minneapolis)

Adjust values to see your personalized solar ROI estimate for Minneapolis, Minnesota.

System Size

System Cost

Electricity Rate

$ /kWh

Solar Irradiance

4.65 kWh/m²/day

Based on NREL data for Minneapolis, MN

ROI Score 2.0x

Annual Production 8,147 kWh

Annual Savings $1,181

Payback Period 12.4 years

25-Year Savings $29,525

After 30% ITC $10,220

Solar Data for 55418 – Minneapolis, MN

Solar Irradiance 4.65 kWh/m²/day -6.2% vs national avg

vs Minnesota Avg +0% State avg: 4.6 kWh/m²/day

Electricity Rate $0.145/kWh Minnesota average rate

Annual Production 8,147 kWh 6kW system estimate

Minneapolis's 4.65 kWh/m²/day is 6.2% below the national average. At $0.145/kWh, the 12.4-year payback is moderate. Tax credits and incentives can shorten it meaningfully.

Solar Incentives for Minneapolis, Minnesota

★

Federal Investment Tax Credit (ITC)

Claim 30% of your system cost as a federal tax credit. On a $14,600 system, that's $4,380 back.

★

Net Metering

Most Minnesota utilities offer net metering — sell excess electricity back to the grid at retail rates, accelerating your payback.

★

Minnesota State Programs

Check with the Minnesota energy office for additional rebates, tax exemptions, and low-interest solar financing programs available in Minneapolis.

55418 vs Minnesota Average

Solar Irradiance

55418: 4.65 MN avg: 4.6

Payback Period

55418: 12.4 yrs MN avg: 12.7 yrs

Annual Savings

55418: $1,181 MN avg: $1,151

25-Year Savings

55418: $29,525 MN avg: $28,775

See the full Minnesota solar guide for statewide data and incentives.

Nearby Zip Codes — Solar Comparison

55401 Minneapolis, MN 2.0x ROI 12.4 yr payback 55406 Minneapolis, MN 2.0x ROI 12.4 yr payback 55105 St. Paul, MN 2.0x ROI 12.4 yr payback 55117 St. Paul, MN 2.0x ROI 12.4 yr payback 55411 Minneapolis, MN 2.0x ROI 12.4 yr payback