Yahoo Finance recently published an article with a good overview on the cost of solar panels. To help our readers understand what this information means to them, here is how southeastern Minnesota compares.

Solar energy is good for the planet and the pocket book, and the industry is growing at an unprecedented pace.

When it comes to solar cost, there are two important cost metrics: the installation cost and the effective cost. Why the difference?

According to the Department of Agriculture, electric bills are between 2% and 5% of a farm’s annual operating expenses, and costs rise on average 3.7% each year.

A solar project is completed in America every 2 minutes, and most of those are residential solar arrays designed to meet a family’s year-round electrical needs.

A solar energy installation is modular, so the system size is very flexible. The size will be determined by factors such as your desired power production, budget, and available space.

On average, 9% of a home’s electricity usage goes toward heating water, so homeowners who are looking to save money and shrink their carbon footprint often consider installing a solar hot water collector.

How do solar panels work? Let’s start by explaining where electricity comes from in the first place. Electricity is produced when electrons move from atom to atom together down a path.

In almost all cases, it makes sense economically and environmentally to tie your solar array to the electrical grid. This allows you cheap or free access to energy at night and allows other electrical customers to make use of the excess clean energy you produce during the day.