New incentives to support Minnesota’s energy resiliency are on the way! Beginning August 1, 2024, incentives will be available for battery storage systems up to 50kWh when paired with solar energy systems for homeowners and businesses. Battery storage can optimize energy generated through solar panels and protects against power outages.
Energy storage incentives will cover a portion of installation costs. Two programs will be available with the following incentive levels:
Xcel Energy customers (administered by Xcel Energy):
- $175 per kWh up to a $5,000 maximum
- Income qualified $370 per kWh up to a $5,000 maximum
- Xcel Energy will have approximately $3,480,000 available for incentives with a carve out for low-income households.
- Customers are eligible for both this storage incentive and the Solar*Rewards for solar PV program
Outside Xcel Energy territory (administered by the Department of Commerce):
- $250 per kWh up to a $7,000 maximum
- Income Qualified Pilot Program $1,000 per kWh up to a $15,000 maximum ($270,000 in available program funds)
- The Department of Commerce will have approximately $2,160,000 available for incentives and is additionally collaborating with the Tribal Advisory Council on Energy to develop a program specific for Tribal Nations.
Battery storage systems must be new, and must be paired with an existing solar Interconnection Agreement or application for interconnection of a solar system.
Funds are limited for both incentive programs and will be administered on a first come, first served basis. Program will launch August 1, 2024 and will be open through June 30, 2027, or until funds are exhausted.
Low-income multi-family properties, non- profits, and for-profit businesses serving low-income constituents could also be eligible for the income qualified incentive.
Don’t forget, both of these programs compliment the 30% federal solar tax credit. Additional solar incentives may be available depending on your location.
Find out if you qualify for this energy storage program, contact All Energy Solar today for a free evaluation!
