It’s Time for Solar Power
Even MN Utilities are Going Green
It’s time for solar power in Minnesota. The green power wave is growing, despite Minnesota Power’s MP) unique electricity load different. In 2005, 95 percent of MP’s electricity was generated by coal fired plants. Today, half of the utility’s power comes from clean energy. It’s the breakdown of its electricity consumers that makes it unique. Just a few mines and paper mills consume over 60 percent of MP’s electricity. The rest of MP’s power supplies 145,000 residential, commercial and light industrial Minnesota consumers.
Xcel Energy, based in Minneapolis and the largest investor owned utility, supplies power to millions of consumers in several states. Xcel too, has been converting to renewable energy, adding wind, hydropower and solar to its fossil fuel power sources. Both utilities have announced their commitment to continue to transition to more renewable energy resources.
Incentive Programs in Place Make This the Time for Solar Power
Net Metering
Solar energy in Minnesota is a good investment whose time has come. Traditional electricity costs are going up. Xcel energy has a rate increase proposed over the next three years. Minnesota Power announced its own 17.5 percent rate increase. Yet the net metering plans mean your own electricity production could yield an electricity offset. Xcel Energy’s net energy metering service (NEM) allows MN consumers on their grid to sell back excess electricity. This is qualified as energy generated from Xcel Energy’s customers with solar power systems using a single net meter.
A net meter is a two directional meter that measures the flow of electricity in both directions. When there isn’t great sun availability, consumers can draw electricity from the grid. On long sunny summer days, they sell excess electricity back to the grid. Eligible residential systems currently sell their excess solar power generated electricity at $.04 per kWh. Meanwhile Commercial systems also sell their excess solar power electricity production. The commercial rate to sell back power is $.03 per kWh.
Still Time for Solar Power Tax Credits
There are more ways to save in your solar power conversion. Tax incentives are still offered on professionally installed solar panel energy conversions. You can enjoy tax credits of up to 26 percent when your solar power system is completed. Together, NEM and tax credits save you thousands off the installation cost, and that cost has been dropping for decades. With rapid inflation boosting costs, waiting risks a price hike on solar panels and equipment too. Before the cost is prohibitive, it’s time for solar power conversion for your home or business.
A Proven, Stable Power Source
As concerns for stability in the power grid grow, more consumers opt for energy independence. Solar power has proven its reliability both on and off the grid. Even utilities are beginning to switch to it as part of their clean energy conversion plans. If your property site qualifies, you can make your own decision regarding off-the-grid living vs producing your own power within the grid.
In both instances your solar energy system can run your home or business. The average time to realize a return on your investment in under a decade. Meanwhile, you will essentially lock in your electricity costs for the next 25 years without monthly bill payments. This statement is based on the 25 year rating for most solar panels. With no moving parts to wear down, solar power systems are low maintenance for the long run. So it’s logical that many solar panels outlast their 25 year rating.
MN Solar and More
In Plymouth, Minnesota, Renewable Solar Resources has spent years working to support the energy transition on residential and commercial properties. Renewable Solar Resources has found solar to be an extremely reliable clean energy source. Solar panels, inverters and solar storage have continued to become ever more efficient.
Keep in mind that every rooftop and ground based solar power deployment is different. Renewable Solar Resources will provide the best information on the cost of solar conversion for your home or business. Today is the time for solar power, as affordable, lasting option for renewable energy.