Electricity Rates in Minneapolis, MN

The average residential electricity rate in Minneapolis is $0.14 per kilowatt-hour (kWh), which is 12% below the national average of $0.16/kWh. The average monthly electric bill for Minneapolis homeowners is approximately $115.

With solar panels, Minneapolis homeowners can reduce their electricity costs by approximately 72%, saving around $83 per month or $30,000 over 25 years. The 30% federal tax credit further reduces the upfront cost of going solar.

The major electric utilities serving the Minneapolis area include Xcel Energy (Northern States), Minnesota Power, Great River Energy. Rates vary between providers, so your exact cost depends on your utility and usage level.

Yes, electricity rates in Minneapolis and across Minnesota have been increasing, following national trends of 2-5% annual increases. This makes solar panels an increasingly attractive option since they lock in your energy costs for 25+ years.