Cost of Solar Panels in Missouri: Local Solar Installation Prices (2022)
Here’s a quick look at the estimated cost of solar in Missouri:
- Average Cost Per Watt: $2.59
- Cost of Average System: $20,124*
- Cost of Energy Without Solar: $45,487
- Payback Period: 13 Years**
- Lifetime Savings of Going Solar: $18,292
*Average system size is calculated using data from the Energy Information Administration. This price is after tax credit.
**Payback period is calculated assuming the system is purchased in cash.
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Cost of Solar Panels in Missouri
According to market research and data from top solar brands, installing solar energy projects in Missouri is less expensive than the national average. The typical cost of solar panels in Missouri is about $2.59 per watt, compared to the U.S. average of $2.66 per watt.
The average size for a solar energy system in Missouri is 10.5 kilowatts (kW), which puts the average solar system cost at roughly $27,195 before applying the federal solar tax credit, or about $20,124 after the credit is factored in. Keep in mind that there may be additional solar incentives and rebates available to you as a Missouri homeowner.
Missouri has some harsh winters, which may have some people wondering if it’s worth going solar in Missouri. Plenty of residents seem to agree that the energy cost savings of going solar are well worth it in the Show-Me state because residential solar installations have been on the rise.1 It’s also worth noting that the prices of home solar have fallen 11% in Missouri over the last five years, and with more solar companies working in the Midwest, installation costs are only expected to drop further.2
Solar Panel System Installation Cost in Missouri
Based on the company you choose and the size of the solar system needed to power your home, we’ve estimated that the average solar panel installation in Missouri costs between $20,700 and $27,900 before applying any tax incentives or solar rebates.
The table below shows the average prices for a solar panel system in Missouri before and after the 26% federal tax credit:
|Size of Solar Panel System||Missouri Solar Panel Cost||Cost After Federal Tax Credit|
Interested in finding the best solar companies in Missouri? EcoWatch has vetted the solar companies installing solar in Missouri to find the five most reputable that offer affordable, high-quality systems. Click here to learn more.
What Determines the Cost of Solar Panels in Missouri?
We’re not trying to sugarcoat it — the upfront costs of switching to renewable energy like solar panels can be costly. While the energy savings are great in the long run, you may be wondering why the cost of solar is so expensive in the first place. Let’s look at some of the factors that drive the cost of solar panels in Missouri:
The size and type of solar equipment you use will play the biggest role in how much your solar panel installation will cost in Missouri. For example, if you were to install a 5-kW system, you could expect to pay around $12,950, versus a 15-kW system at 38,850.
In Missouri, you’d need roughly a 10.5-kW system to offset the average $115/month energy bill, but exact system size is determined on a house-by-house basis. You can get a rough idea of how many solar panels you’ll need based on your past electric bills, available roof space and the amount of sunlight your home gets. However, the only way to know exactly what solar energy system size you need is to get an assessment from a reputable solar company near you.
It’s not only the size, but the quality and name brand of the solar equipment you install that will change the price. There are three popular types of solar panels on the market — monocrystalline, polycrystalline and thin-film — and each comes with a different price tag.
Many of the major installers use monocrystalline solar panels because they are the most efficient. But even within that bracket, there will be some differentiation. For example, the solar installer SunPower carries the most efficient solar panels, so it tends to be a bit more expensive than other installers. Other solar companies may carry a wider range of solar brands and offer cheap solar panels or more affordable inverters that can reduce your overall solar installation cost in Missouri.
Just like with most big purchases, the way you choose to finance your solar panels will affect the total cost of your solar project. Obviously, if you take on a solar loan with a high-interest rate, you’ll end up paying a lot more in the long run. Similarly, if you pay more, or all, of the cost of solar panel installation upfront, you’ll have less interest on the back end.
We know it’s a big cost, but we recommend purchasing as much as you can up front to maximize your savings. We don’t suggest our readers enter into solar leases or power purchase agreements (PPAs) unless as a last resort, as you won’t be able to capitalize on all of the solar incentives available if you don’t own your panels.
Solar Installation Company
As mentioned earlier, different solar installation companies will offer different equipment brands that can alter the cost of your overall solar panel installation in Missouri. The good news is that there are over 121 solar companies in the state, with at least 43 providing residential solar installations, so you have plenty to choose from.3 We recommend shopping around and comparing different quotes from different companies before deciding on a solar installer.
Missouri Solar Incentives
Missouri is not one of the top states for solar, but solar panels are becoming increasingly popular in the state. It could be because Missourians are seeking energy independence from utility companies, or perhaps they’re interested in lowering their electricity rates through net metering. Or maybe they just want to capitalize on the pros of going solar.
Whatever your reason for making the switch to clean energy alternatives, we want you to get the maximum reward. We’ve outlined some of the solar incentives available in Missouri below:
|Missouri Solar Incentive||How it Affects the Cost of Solar Panels in Missouri|
|Property Tax Exemption||Even though installing solar panels boosts your home’s value, Missouri law ensures your property taxes won’t budge.|
|Net Metering||Missouri lawmakers passed legislation in 2007 that requires all electric utilities to offer “true net metering” to customers with solar photovoltaic systems up to 100-kW.4 If you don’t know what net metering is, here’s our guide.|
|Local Solar Rebates & Incentives||Be sure to check with your city government and utility provider for any additional incentives offered in your area. For example, Columbia Water & Light, Kansas City Power & Light and Liberty Utilities all offer rebates for installing PV systems.|
|Federal Solar Tax Credit||The federal solar investment tax credit, or ITC, allows homeowners to claim 26% of their system costs as a credit against the federal taxes they owe. The credit is set to reduce to 22% in 2023 and will be eliminated for residential systems in 2024 unless it is extended by Congress.|
Best Solar Panel Brands and Installed Solar System Costs in 2022
Whether you’re installing a DIY solar panel system or having one of the best solar companies in Missouri take care of the installation, you want to make sure you’re picking the right solar panels for your home. But with so many options, it can be hard to know which panels are best for your needs and budget.
Based on our research and data, we’ve found the brands below to offer the best solar panels on the market. Here’s how they stack up price-wise:
|Solar Panel Brand||Average Cost Per Watt ($-$$$$$)|
People Also Ask
EcoWatch FAQ: Solar Panel Cost Missouri
Here at EcoWatch, we field many questions from Missouri homeowners who are interested in going solar. Here are some of the more common queries we see:
The average cost of solar panels in Missouri is $2.59 per watt. Using this figure, a typical 10.5-kilowatt solar system in Missouri would cost roughly $27,195, or $20,124 after claiming the solar tax credit.
Yes! Data from Zillow shows that adding solar boosts property value and that homes with solar panels tend to sell for 4.1% more than homes without.10 It’s important to remember that you can only capitalize on the increase in home value if you own your solar system instead of leasing it.
It’s always better to buy your solar panels if you can because you can’t enjoy all of the benefits of going solar if you don’t own your solar system. For instance, if you choose to lease solar panels, you will not be able to claim the federal tax credit or take advantage of your increased property value. Plus, some of the local Missouri solar incentives outlined above may not apply to solar leasing.
We know it’s expensive, but we always recommend buying your solar panels outright when feasible. If you cannot afford to cover the full cost, put as much down as you can and explore financing options. Oh, and if you see any companies offering “free solar panels” in Missouri, you’re being misled. Solar panels are never free — this is a sales tactic often used by shady companies to sell solar leases.
Yes, it’s possible to eliminate your utility bills by going solar, especially with Missouri’s great net metering program. If your solar system generates more energy than what is needed to power your home, you’ll not only eliminate your energy bill, but you’ll receive credits for contributing energy to your local power grid. Then you can use those credits to lower or eliminate your power bills during months when your solar panels aren’t as efficient, like in the winter or during severe weather seasons.
This question is almost impossible to answer without knowing specific details about your home, including your electricity usage and the amount of direct sunlight your roof receives. The only way to accurately assess what size solar power system is right for your home is to get a professional assessment from a reputable solar company, which you can do by filling out the form on this page. However, you can get an idea of the size and cost of a solar panel system based on your electricity bills, energy needs, and available roof space. To learn more about how many solar panels you need to power your home, read this article.