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Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from Northern States Power Co with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives Northern States Power Co does offer?
Category : Financial Incentive
Website : https://my.xcelenergy.com/s/residential
Applicable Sectors : Residential
Incentive Amount : Water Heaters: $75 Tankless Water Heater: $250 Natural Gas Furnace: $75-$120 Natural Gas Hot Water Boiler: $100
Implementing Sector : Utility
Category : Financial Incentive
Website : https://focusonenergy.com/Business
Applicable Sectors : Commercial, Industrial, Local Government, Schools, State Government, Federal Government, Tribal Government, Agricultural, Multifamily Residential, Institutional
Incentive Amount : Various prescriptive incentives available at the program website
Implementing Sector : Utility
Category : Financial Incentive
Website : https://focusonenergy.com/business/new-construction
Applicable Sectors : Commercial
Incentive Amount : Energy Efficiency (1-10 year payback): $100 per peak kW $0.05 per kWh saved $0.95 per Therm saved Low Payback (less than 1 year payback): $0.02 per kWh saved $0.20 per Therm saved Renewable Energy (1-20 year payback): $125 per peak kW $0.10 per kWh saved $1.25 per Therm saved Solar-Ready: $2500
Implementing Sector : State
Category : Financial Incentive
Website : https://focusonenergy.com/residential/solar-for-homes
Applicable Sectors : Commercial, Residential
Incentive Amount : Residential PV: $300 per system; $300 bonus incentive for rural customers in qualifying zip codes Business: $50 per kW
Implementing Sector : State
Category : Financial Incentive
Website : http://www.focusonenergy.com/business
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Installers/Contractors, Tribal Government, Agricultural, Multifamily Residential, Institutional
Incentive Amount : Prescriptive: Varies by equipment type Custom: Varies by program
Implementing Sector : State
Category : Regulatory Policy
Website : https://psc.wi.gov/Pages/ForUtilities/Energy/NetMeteringandBuyBackTariffs.aspx
Applicable Sectors : Commercial, Industrial, Residential
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://focusonenergy.com/residential
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Natural Gas Furnaces: $50 - $150, depending on efficiency Natural Gas Furnaces (Income-Qualifying Customers): $350 - $550, depending on efficiency Natural Gas Boilers: $300 - $590, depending on efficiency Natural Gas Boilers (Income-Qualifying Customers): $450 - $700, depending on efficiency Air Source Heat Pumps: $400 - $1,300 depending on type and efficiency Geothermal Heat Pumps: $750 - $1,000 Smart Thermostat: $50 Insulation: $150 - $675, depending on location within home Insulation (Income-Qualifying Customers): $200 - $1,125, depending on location within home Water Heaters: Instant rebates are available through trade allies.
Implementing Sector : State
Category : Financial Incentive
Website : https://focusonenergy.com/business/renewable-energy
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount : Up to $0.50/kWh and $1.00/Therm
Implementing Sector : State
Category : Financial Incentive
Website : https://mn.my.xcelenergy.com/s/business/lighting-equipment-rebates
Applicable Sectors : Commercial, Construction, Industrial, Federal Government
Incentive Amount : Business Lighting Rebates Link to main webpage is here 2023/2024 Bonus Rebates on LED Upgrades Linear LED: $2.25 - $18 Incentive details can be found here Upgrades or installations for Construction Projects LED and LEC exit signs: $25/fixture LED Fixture: $37.50 - $250/unit LED Retrofit Kit: $22.50 - $105/unit Commercial downlight luminaire fixture: $18.55 - $50/unit LED refrigerated case lighting: $33.75 - $45/unit LED linear ambient fixture and retrofit kit: $11.25 - $25/unit LED troffer fixture: $22.50 - $30/unt LED stairwell fixture: $30 - $40/unit Standalone and networked lighting controls: $0.05 - $0.40/watt LED parking garage fixtures: $86.25 - $125/unit LED parking garage wall pack fixtures: $22.50 - $75/unit LED outdoor area lighting fixtures: $26.25 - $90/unit LED canopy fixtures: $15 - $25/unit LED street lighting fixture: $18.75 - $50/unit LED wall pack fixtures: $11.25 - $50/unit LED grow lights: $0.19 - $0.25/watt Incentive details can be found here Business LED Instant Rebates on Lamps PL LED: $5.25 - $7 Interior HID Replacement: $22.50 - $85 A-Lamps: $0.75 - $6.00 Reflectors: $2.25 - $10 Decorative: $3 - $4 Downlight Solid State Retrofit Kit: $6.75 - $9 Incentive details can be found here Lighting Controls Rebates Details can be found on this application LED Grow Lighting Rebates LED indoor horticulture lighting: $0.53 - $0.70/watt Incentive details can be found here HVAC-R Rebates HVAC-R Program Rebate Listing Form Foodservice Rebates Foodservice Appliance: $200 - $1,000 Steam Cooker: $$350 - $500 Foodservice Rebate Form Clean Water Pumps Rebates range from $100 to $11,140 Incentive details can be found here Commercial Refrigeration Rebates Anti-Sweat Heater: $60/unit Demand Controls Ventilation: $500 Dishwasher: $125 - $250 Floating Head Pressure Controls: $25 - $50/ton Medium-temp Enclosed Reach-In Case: $70/ft No Heat Case Doors: $100 - $150 Refrigeration Fans: $40 - $150 Cooler case with glass doors: $100 - $150/ft Walk-in Freezer Defrost Controls: $120 per 1,000 watts Details can be found here Compressed Air Rebates range from $200 to $6,000 By implementing pre-approved custom Compressed Air Efficiency projects you can earn rebates of up to $600/kW saved for system peak demand, plus $100/kW saved for non-peak demand savings that exceed peak kWs saved Projects implemented without a study earn up to $400/kW saved for system peak demand, plus $100/kW saved for non-peak demand savings that exceed system peak kWs saved Additional details can be found here Computer Rebates Power Supply Equipment 400 - 600W: $5 600 - 1,000W: $10 >1,000W: $20 Virtual Desktop Infrastructures (VDIs) Up to 17W: $10/unit Additional details are found here Fan Energy Index Rebates Fans: $100 - $1,000 Fans with Integrated VFD: $520 - $11,600 Additional details found on this form
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.xcelenergy.com/programs_and_rebates/business_programs_and_rebates
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Institutional
Incentive Amount : Business Lighting Bonus Rebates of LED Upgrades: Up to $5,000 LED Direct Linear Ambient Fixtures: $11.25 - $38/unit LED Downlight Fixtures: $18.75 - $50 LED Exit Signs: $25/unit LED high/low bay fixtures and retrofit kits: $22.50 - $187.50 LED Stairwell Fixtures: $22.50 - $40 LED Troffer Fixtures: $22.50 - $30 Standalone and Networked Lighting Controls: $0.05 - $0.40/watt LED Parking Garage Fixtures: $25 - $125/unit LED Parking Garage Wall Pack Fixtures: $11.25 - $75 LED Canopy Fixtures: $15 - $25 LED Exterior Wall Pack Fixtures: $11.25 - $50 Minnesota Business LED Instant Rebate: $1.50 - $15 Indoor Agricultural Grow Lighting: $0.53 - $0.70 Custom Efficiency: $450/system peak demand kilowatt (kW) Plus $200/non-peak demand kilowatt in excess of system peak demand kilowatts saved Rebates up to $5/dekatherm (Dth) of natural gas saved HVAC-R Rebates Bonus Rebates for Variable Frequency Drives (VFDs): $400 - $10,000 Direct Expansion (DX) Units: See this form for details Sink & Faucet Aerators: $8 - $45 Fractional HP Motors: $50 - $100 High Volume Low Speed Destratification Fans: $2,000/unit Pipe Insulation: $8 - $9/ft Linkageless Controls: Up to $10,000 Trade Partner Driven Rebates: See this form for details Foodservice Gas Equipment Bonus Rebates: $110 - $1,100 See this form for details Natural Gas Equipment: $125 - $1,000 Electric Equipment: $100 - $400 Clean Water Pumps: $100 - $8,640 Rebate Levels for integrated with a VFD with bonus: Up to $10,640 Commercial Refrigeration Strip Curtains: $214.62 - $817.60 Auto-Close Doors: Walk-In Freezer: $270 Auto-Close Doors: Walk-In Cooler: $157 LED HVAC R Refrigeration: $3.84 - $5.84/unit Defrost Controls: $130/1,00 watts Evaporator Fan Motor Controllers: $35/motor controller LED Reach-In Case Lighting: $45/door Floating Head Pressure Controls: $25 - $50/ton No heat Case Doors: $100 - $150 Compressed Air Custom Rebates With Study: $500/system peak demand kilowatt (kW) of electricity saved, plus $200/non-peak demand kilowatt in excess of system peak demand kilowatts saved Without Study: $100/system peak demand kilowatt (kW) of electricity saved, plus $50/non-peak demand kilowatt in excess of system peak demand kilowatts saved Computer Equipment Zero and Thin Client Virtual Desktop Infrastructures (VDIs): Up to 17W - $10 per nit Fan Energy Index: $180 - $9,420
Implementing Sector : Utility
Category : Financial Incentive
Website : https://mn.my.xcelenergy.com/s/renewable/solar-rewards
Applicable Sectors : Commercial, Residential
Incentive Amount : Residential Systems: $0.02/kWh (10 years) Income-Qualified Residential Systems: $0.02/kWh (10 years), plus $2.00/W up-front Income-Qualified Non-Profit and Government: $0.015/kWh (10 years), plus $1.00/W up-front Income-Qualified For-Profit and Multifamily: $0.015/kWh (10 years), plus $0.50/W up-front
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.xcelenergy.com/programs_and_rebates/residential_programs_and_rebates
Applicable Sectors : Residential
Incentive Amount : Insulation Air Sealing: 30% up to $150 Attic Insulation: 30% up to $350 Wall Insulation: 30% up to $300 *Cooling Only Customers* Air Sealing: 30% up to $15 Attic Insulation: 30% up to $60 Wall Insulation: 30% up to $25 Heating and Cooling Natural Gas Furnace: up to $400, see website for conditions. Natural Gas Hot Water Boiler: up to $400, see website for conditions. Ground Source Heat Pump: $500/ton Mini-Split Heat Pump: up to $600 Water Heater: $75 Tankless Water Heater: $250
Implementing Sector : Utility
Net metering with Northern States Power Co
Category : Regulatory Policy
Website : https://psc.wi.gov/Pages/ForUtilities/Energy/NetMeteringandBuyBackTariffs.aspx
Applicable Sectors : Commercial, Industrial, Residential
Incentive Amount :
Implementing Sector : State
Installing and connecting your solar system
When you install a solar system in Northern States Power Co territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with Northern States Power Co to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for Northern States Power Co customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for Northern States Power Co customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with Northern States Power Co? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
