Accessibility menu
State Representative Patti Fritz
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8237
For more information contact: Sandy Connolly 651-296-8877
Press/News Releases
NEW STATE AND FEDERAL INCENTIVES REDUCE THE COST OF SOLAR ENERGY SYSTEMS
State Representative Patti Fritz (DFL-Faribault) is encouraging Minnesotans to take advantage of recently passed legislation that makes it cheaper to use solar energy.
A bill that was passed in this year's Legislative session offers an exemption for the Minnesota sales tax on solar energy systems. Combined with a 30% federal tax credit, the cost of purchasing solar energy systems is a lot more reasonable.
"At a time when we are seeing the cost of natural gas skyrocket, these two financial incentives make it much more attractive to consider solar energy for a least part of your energy needs," said Fritz.
According to Fritz, it is estimated that homeowners may break even financially in 5-20 years using solar thermal energy (hot water), and in 15 –50 years with solar electricity. The point at which the savings equals the costs depends on the ownership type, incentives available, fuels offset and future energy prices.
"There is no doubt that high energy costs will continue to be a primary concern to both individuals and businesses," said Fritz. "By adapting some of your heat or electrical needs to solar now, you can incur substantial savings down the road."
According to the Minnesota Department of Commerce, an individual in Minnesota who purchases a solar electricity system for $17,000 could see an actual cost of $6, 171, after reductions of a state rebate, utility rebate, federal tax credits and the state sales tax exemption. This is a savings of 64%. A similar purchase by a business would net a 78% savings.
For solar thermal systems that have an initial cost of $6,000, the savings would be 33% for an individual and 57% for a business.
For more information on the federal tax incentives, go to www.seia.org. Other sites that may be helpful when considering purchasing solar energy systems are the Minnesota Power Solar Electric Rebate Program (www.mnpower.com and 1-800-228-8-4966 ext. 2843), the Renewable Energy Incentives Database (www.dsireusa.org) and the Minnesota Solar Dealer Yellow Pages (www.commerce.state.mn.us, and 651-296-5175).
News Items
- STATE REP. PATTI FRITZ PARTICIPATES IN START OF LEGISLATIVE SESSION - (Posted: Jan 9 2013 3:32PM)
- Rep. Fritz: Homeowners, Farmers Need Property Tax Relief - (Posted: 2012-05-01 00:00:00)
- Rep. Fritz: Let’s Vote on a Bonding Bill that Benefits All - (Posted: 2012-04-19 00:00:00)
- Archived News Items
- Subscribe to RSS News Feeds
- Read more about RSS.