A client who installed a home solar system in their St. Paul home last year contacted me about the good news that the 26% federal tax credit for solar installations has been extended through 2022.
Electricity costs are at all-time highs. If you have been considering solar so you ‘own’ electricity rather than rent it, 2021 could be a great time to do it. In addition to rebates and tax credits, the cost of solar systems is continuing to go down and Minnesota solar panel costs have fallen 45 percent over the last 5 years, according to All Energy Solar.
Renewables also have grown rapidly over the past decade.
Renewable energy sources now generate about 25% of Minnesota’s energy. – StarTribune
The federal stimulus law passed in December extended the investment tax credit of 26% though 2022, declining to 23% in 2023 and 10% in 2024. In addition, some cities and towns throughout Minnesota offer solar rebates, exemptions from property taxes, and other solar programs. Check to see what is available in your community.
Minneapolis ranks among the top cities in the nation for setting and meeting climate change goals, with about a third of the city’s energy coming from renewable sources.
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