Homeowners
Solar financing from CEE
The Center for Energy and Environment (CEE) offers 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.
St. Louis Park deferred loan program
The St. Louis Park deferred loan is administered by the Center for Energy and Environment (CEE). About the loan: loan amounts from $2,000 - $30,000, no monthly payments, deferred for 20 years. Work may not begin until after the loan is closed. Property value cannot exceed $445,000 based on the most recent estimated property tax value. Income limits apply, household income cannot exceed 80% AMI. Available for 1-2 unit owner-occupied properties in St. Louis Park. Visit CEE's website or call 612.335.5884 for complete eligibility and loan details.
Program is subject to the availability of funds. CEE removes the down payment assistance program from their website when funds are no longer available.
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.
Xcel Energy Battery Storage Incentive
When you add a battery storage system to a solar installation, you may be eligible for an upfront incentive payment from Xcel Energy.
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® or a community solar garden are both great ways to power your home with renewable energy if you rent. Renewable*Connect is a voluntary subscription program where you can choose to get 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 Tax Credit
Take advantage of the Clean Electricity Investment Credit, which allows you to deduct a percentage of the cost of installing a solar energy system from your federal taxes. Talk to your solar installer about how to qualify.
Climate Champions Solar Bonus
You may be eligible for a bonus rooftop solar reimbursement from the City of St. Louis Park.
Xcel Energy Battery Storage Incentive
When you add a battery storage system to a solar installation, you may be eligible for an upfront incentive payment from Xcel Energy.
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.
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.
Xcel Energy Battery Storage Incentive
When you add a battery storage system to a solar installation, you may be eligible for an upfront incentive payment from Xcel Energy.
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
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.
