Edina, Minnesota will continue to run its cost share bonus program in 2024.
Edina has been working to decrease their carbon footprint, as part of this initiative they began the Community Climate Action Fund. This is a cost-share program where the city can reimburse residents and businesses for some of the costs of completing energy efficiency projects.
To participate in the solar bonus program for the Community Climate Action Fund, you must complete multiple prerequisites. To apply for the program, you must first have an energy assessment conducted for your home or business. This assessment will be used to see the increase in energy efficiency, which will determine your cost share bonus percentage. After the assessment, you can apply for the Community Climate Action Fund program on the City of Edina’s website. On the application, you will need to note that you are interested in the solar bonus. Before the solar installation, the property must complete an eligible project or a high-efficiency electrical appliance installation. These improvements qualify for their own cost share amount.
For residential properties, the solar cost share bonus is based on the effect on your Home Energy Score from your energy assessment. After the completion of your energy efficiency project(s), if your Home Energy Score increases by 5-15 points, you qualify for a 10 percent solar cost share. Homes that get a Home Energy Score of 95+ will receive a 5 percent solar cost share. For businesses and organizations, the solar cost share is 10 percent if the energy efficiency project(s) results in a 5-15 percent greenhouse gas reduction for the property.
Beyond taking part in the cost share, there are other incentives that you can use to save money on your solar installation. Residential property owners that install solar can receive the 30 percent federal tax credit, saving a significant amount on their solar array. In addition, Xcel Energy customers can also apply for the utility’s Solar*Rewards rebate. Residential properties can receive $0.03/kWh for their solar array through the Solar*Rewards Program. However, this is a first come, first served rebate with limited funds for the year, so it is best to act quickly!
Commercial properties can participate in the federal tax credit, getting up to a 50 percent tax credit for meeting additional standards. Property Assessed Clean Energy (PACE) provides financing options for businesses that are making energy-efficient and renewable energy improvements for their property.
While there seems to be a lot of steps to qualify for the Edina Cost Share program, a professional can help to make sure things run smoothly for the application process. At All Energy Solar, we pride ourselves in the ability to help customers go solar with turn-key services, to make the process as simple as possible for you. Giving you less to worry about so you can focus on the sunshine.
Contact us now to get in contact with one of our solar experts!