Paying for it

Utility Rebates & Tax Incentives

Ask your utility about efficiency rebates, which might include:

Utility Solar Incentives

 

Several Utilities in Minnesota offer rebates or incentives for the installation of solar PV systems, listed below.

Some utilities may also cover other renewable energy options, like solar thermal, geothermal, or biomass.

 

Federal Tax Credits

30% through 2019

 

This is the final year residents can claim the full 30% Federal Residential Renewable Energy Tax Credit. For residents considering a solar energy system (PV or hot water), small wind system, ground source heat pump, or other eligible systems, 2019 is a good time to install it. The current tax credit means a taxpayer may claim a credit of 30% of qualified expenditures for a system that serves a dwelling unit located in the United States that is owned and used as a residence by the taxpayer. The tax credit for all eligible systems will phase down over the next three years from 30% in 2019, 26% in 2020, and 22% in 2021, and it will end in 2022. There is a similar Business Energy Investment Tax Credit (ITC) available for businesses, with a similar phase down schedule.

 

Tax credits for residential energy efficiency have now expired. The tax credit for builders of energy efficient homes and tax deductions for energy efficient commercial buildings have also expired. But you can still save money and energy by taking energy efficiency measures rebated by your utility (some examples listed below).

 

The federal Internal Revenue Service (IRS) tax credit is for $2,500 to $7,500 per new EV purchased for use in the U.S. The size of the tax credit depends on the size of the vehicle and its battery capacity.  To find out specific tax credit amounts for individual vehicles, visit FuelEconomy.gov’s Tax Credits for Electric Vehicles and Tax Credits for Plug-in Hybrids pages.  This tax credit will be available until 200,000 qualified EVs have been sold in the United States by each manufacturer, at which point the credit begins to phase out for that manufacturer. Currently, no manufacturers have been phased out yet.