Homeowners
Federal Investment Tax Credit
Take advantage of the federal solar tax credit, which allows you to deduct 30% of the cost of installing a solar energy system from your federal taxes.
Solar financing from CEE
The Center for Energy and Environment (CEE) offers low-interest residential solar loans for homeowners to install solar photovoltaic systems and increase the energy efficiency of their homes.
Home solar loans from CU Green
CU Green home solar loans are currently available at Affinity Plus Federal Credit Union and Hiway Credit Union.
Xcel Energy Solar Rewards
With Xcel Energy's Solar*Rewards® incentive program, monthly payments are made to the owner of the solar panels in exchange for Renewable Energy Credits (RECs) for the energy produced.
Climate Champions Solar Bonus
If you have increased the energy efficiency of your home, you may be eligible for a bonus rooftop solar reimbursement from the City of St. Louis Park.
Renters
Subscribing to Xcel Energy's Renewable Connect Flex or a community solar garden are both great ways to power your home with renewable energy if you live in an apartment. Renewable Connect Flex is a voluntary subscription program where you can choose to get more or all of your energy from renewable resources. It typically costs just a few extra dollars a month.
A community solar garden requires a contract and your utility bill will be credited with the electricity created by your share of the solar garden. Subscribing to community solar may or may not result in electricity savings.
Federal Investment Tax Credit
Take advantage of the federal solar tax credit, which allows you to deduct 30% of the cost of installing a solar energy system from your federal taxes. Talk to your solar installer about how to qualify.
Solar financing from CEE
The Center for Energy and Environment (CEE) Commercial Energy Efficiency Loan Program provides financing to businesses increasing energy efficiency, including solar panels.
Xcel Energy Solar*Rewards
Solar*Rewards® is also available for businesses, where annual payments are made to the owner of the solar panels in exchange for Renewable Energy Credits (RECs) for the energy produced.
Property Assessed Clean Energy financing
Property Assessed Clean Energy (PACE) provides financing to commercial property owners for renewable energy improvements to buildings.
Special assessment for energy improvements
Any commercial or residential properties with five or more units can qualify for a special assessment on energy improvements for their property. If approved, energy improvement costs can be assessed to your property and deferred for up to 10 years. Visit the
financing resources page to learn more or contact Ellie Rabine at
erabine@stlouisparkmn.gov with questions.
Climate Champions Solar Bonus
If you have increased the energy efficiency of your property, you may be eligible for a bonus rooftop solar reimbursement from the City of St. Louis Park.
Inflation Reduction Act
Starting January 1, 2023, nonprofit solar installations are eligible for the federal solar tax credit, regardless of their tax status. The amount this credit covers will vary. Read more and reach out to staff with any questions.
Power purchase agreements
For nonprofit organizations looking to lower electric bills that can’t make the large, upfront investment required, solar leases and power purchase agreements (PPA) might be an option. Instead of owning the solar panels, an investor will pay for and have the rooftop solar panels installed. The nonprofit then buys back the electricity at a reduced rate. Instead of paying the utility electric bill, payments go to the owner of the solar panels, which are typically less expensive because the investor can take advantage of tax incentives. Find more information in the nonprofit's guide to solar energy.
Special assessment for energy improvements
Any commercial or residential properties with five or more units can qualify for a special assessment on energy improvements for their property. If approved, energy improvement costs can be assessed to your property and deferred for up to 10 years. Visit the financing resources page to learn more or contact Ellie Rabine at erabine@stlouisparkmn.gov with questions.
Climate Champions Solar Bonus
If you have increased the energy efficiency of your property, you may be eligible for a bonus rooftop solar reimbursement from the City of St. Louis Park.
Additional nonprofit resources
Minnesota Interfaith Power and Light and Clean Energy Resource Teams both offer free technical assistance and guidance for organizations and congregations exploring solar.
