Residential Financing and Rebate Programs
Federal Solar Investment Tax Credit (26%)
The Solar Investment Tax Credit is a federal income tax credit for residential and commercial solar energy systems built in Minnesota and throughout the U.S. When you install a solar array, you will receive a 26% tax credit on the total purchase price. So, if your solar investment was $50,000, you will receive a $13,000 one-time tax credit that will be deducted from any federal tax you owe at the end of the year your project was completed.
The percentage of your project covered by this credit will decrease in the coming years, and it may no longer apply to residential projects in the future. That means now is the best time to get the biggest savings!
Xcel Energy Solar Rewards Program
Xcel has a Solar Rewards program for solar system sizes that are 40 kW or less. Since Xcel is the largest utility provider in the metro area, this is a big deal for solar customers in the Twin Cities! You will be paid .07 cents/kWh for every kilowatt-hour produced from your system for ten years. The figure is based on an annual production of kilowatts from your solar panel array and checks come once a year. Cedar Creek Energy will be happy to complete and submit all the paperwork for you. Read more >
Minnesota Power’s Solar Sense Program
Solar Sense Rebate Program – This rebate program is for residential solar installations up to 40 kW. You’ll receive an upfront rebate based on the production estimate of your solar photovoltaic (PV) installation. The payout is based on .94 cents/kW and is capped at $4,000.
Center for Energy and Environment Financing
The Lending Center at the Center for Energy and Environment (CEE) offers low-interest loans for Minnesota homeowners to increase their energy efficiency with solar energy. This financing program provides a 4.99% fixed interest rate for terms up to 10 years, with a maximum loan amount of $50,000. Learn more >
In Minnesota alone, there are over 200 different utilities that make up the utility grid. We have the resources to find the best bonuses and rebates that fit your finances, and we will happily complete all the paperwork and submit it for you to ensure you receive optimal savings.
We’re in the business of saving our customers money, so we know where to find the grants and funding for projects of all shapes and sizes. Grant-awarding agencies will often have grants specific to your type of business or project, or available to specific counties and cities, but not advertised. We pride ourselves in our ability to uncover grants and find the best savings options for your unique project.
Find Your Path To Solar Energy
At Cedar Creek Energy, every time we design a residential energy power system, we are creating it to give optimal payback and a generous rate of return on your investment. We want every client to receive the maximum funding and savings possible, which is why we stay current on all federal and state rebates, utility incentive program opportunities, and green financing options. We make each solar project unique in its cost and purpose for our clients and we aim to understand your needs to create the best return on your investment
Financing Opportunities, Rebates, and Tax Advantages
“Even though without fail, every client of ours tells us they are going solar because it’s the right thing to do, they still have to justify that decision economically. We make sure the solar payback and savings IS the right thing for them to do.” —Rob Appelhof, CEO and Founder
At Cedar Creek Energy, we are here to help you find the specific financial incentives associated with your home. Taking advantage of available tax credits, rebates, and depreciation plays a vital role in the return on your investment. We have trusted relationships with a wide range of lenders who specialize in green energy projects, giving you a variety of financing options so you can choose the solution that best fits your budget.
Tax credits and incentives are another bright benefit of switching to solar.
The federal government administered the Residential Renewable Energy Tax Credit, which lets homeowners claim a credit of 26% on their federal income taxes. If you’re on the fence about making the switch to solar energy for your home, don’t forget to take into account tax credits, which can dramatically reduce your overall out-of-pocket investment.
Components that enter into your decision-making process:
- Number of solar panels in your system
- Amount of electricity you need
- Aesthetics and placement of system
- % of electric costs you wish to offset with a solar power PV installation
- Whether selling your excess solar energy back to Xcel, Ottertail, or other utility is an option
- Battery storage or backup storage system considerations
- Grants available for your proposed system size
- Financing available that you can justify
- Tax advantages offered
- Rebates and bonuses offered
“I enjoy both the strategic management visioning part of my work and meeting with clients, developing meaningful relationships, and helping to achieve long-term conservation goals.” -Matt Stupnik, Chief Operating Officer, Co-Owner, Cedar Creek Energy
Solar Power is the Right Thing to Do—Let’s Make the Savings Right, Too
If you’re considering solar but are concerned about the cost, we’ll help you discover which additional rebates and incentives you qualify for. Call (763) 432-5261 to discuss your needs and goals with a Cedar Creek Energy team member. Our team is passionate about helping clients take the next step toward green and clean renewable energy sources.
Based in Blaine, Minnesota, Cedar Creek Energy has facilitated the clean energy goals of thousands of individuals and business owners, farmers and developers since 2007. Each of our clients have found a way to create an affordable solar energy system, utilizing a combination of rebates, grants, and solar financing, in conjunction with Cedar Creek Energy’s inherently affordable pricing.
Our service area includes the Twin Cities, Duluth, greater Minnesota, surrounding states, and nationwide. If you qualify for rebates or grants anywhere in the country, you can be sure Cedar Creek Energy will help you find them and apply for them.
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