Solar is a great investment, and with the 2022 Inflation Reduction Act (IRA), it's an even better investment. The federal government has put incentives in place to help homes and businesses to transition over to clean energy by providing tax breaks and other incentives to help lower your cost in going solar by as much as 30-60% OFF the retail rate of a solar installation.

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1. 30-40% Tax Credit- The Federal Investment Tax Credit (ITC) has been around since 2006 and has seen many variations of incentive rates. Most tax-paying businesses and homeowners can take advantage of 30%, and if the system has enough made-in-the-USA components, it may qualify you for up to 40%

2. Xcel Energy Solar*Rewards- The electricity provider in Woodbury, MN is Xcel Energy (NSP). They provide a rebate for home solar customers and some income-qualified businesses called Solar*Rewards. The incentive is paid out over 10 years at two cents per kWh.

3. Home Value Increase- Several studies have been done on how a solar energy system installed on your Woodbury home greatly increases the value of your home. In fact, if you only consider the value of the solar increases the value of your home, the solar energy system pays for itself the day it is turned on.

4. Solar Loans- We have partnered with loan providers to help make solar as simple as getting approval and saying "Yes". Loans are structured to save you monthly on your electric bill and lock in a portion to all of your electricity rate. Check out the Center for Energy and Environment Solar Loan.

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If you would like to see how much solar would cost you on your Woodbury home, we developed a tool that after a few questions, we will estimate the cost for you to go solar.