Minnesota Farm Powers Up with Solar and PACE Financing
MinnPACE and Agriculture are a Perfect Match
In the heart of rural Minnesota, Skaurud Grain Farms has embraced clean energy with the help of MinnPACE, transforming its 20,000-acre operation into a model of sustainability and smart financing.
A Solar-Powered Future for Agriculture
Located in Gary, MN, Skaurud Farms grows soybeans, corn, sugar beets, wheat, and more. When approached by Twin Cities-based Blue Horizon Energy, the Skaurud family learned they could install solar panels with minimal upfront cost—thanks to a PACE loan from Spire Credit Union.
Today, the farm features three solar installations, each producing around 40 kilowatts. The panels track the sun to maximize energy production, earning bill credits through net metering with Wild Rice Electric Cooperative.
Knowing that program was a possibility was very much a plus for doing it.
Vicki Skaurud
Why Farmers Choose PACE
PACE (Property Assessed Clean Energy) financing offers farmers:
• No upfront costs
• Fixed, long-term payments (10–15 years)
• Repayment via property taxes
• Access to 30% federal tax credits and 100% bonus depreciation
These benefits make solar a financially sound investment, especially when paired with USDA’s Rural Energy for America Program and utility incentives.
They’re locking up your payment, and it’s going to be a consistent, affordable payment for the life of the PACE assessment.
Matt Meyer, Spire Credit Union
A Collaborative Effort
MinnPACE has facilitated over 100 solar farm projects, representing 70% of its loan portfolio. With partnerships across 65 counties, solar is driving a quiet revolution in Minnesota’s agricultural sector.