Solar Panel Cost Guide in Bonne Terre, MO (2024 Update)
- Bonne Terre Solar Installation Cost: $16,954
- 25-Year Savings: $20,724
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Bonne Terre
Let’s have a look at the average cost of solar panels in Bonne Terre.
The national average cost of solar panels is $2.66 per watt, but in Bonne Terre it’s 3 per watt.Using this figure, a typical 7.2-kW system would cost about $16,954 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on power bills.
Click the button below to get connected to a top solar company in your area for a customized estimate.
Solar savings over time in Bonne Terre
| Year | Return on Investment |
|---|---|
| 1 years | $-15,663 |
| 3 years | $-13,082 |
| 5 years | $-10,501 |
| 7 years | $-7,920 |
| 9 years | $-5,339 |
| 11 years | $-2,758 |
| 13 years | $-177 |
| 15 years | $2,405 |
| 17 years | $4,986 |
| 19 years | $7,567 |
| 21 years | $10,148 |
| 23 years | $12,729 |
| 25 years | $15,310 |
Top Solar Installers in Bonne Terre
Installing solar panels by yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be invaluable as well, particularly if you aren’t sure what kind of solar equipment would be right for your home.
If you're looking for a solar installer in Bonne Terre, the EcoWatch team has put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Bonne Terre
Factors that Affect Solar Panel Costs in Bonne Terre
The cost of installing a solar system in Bonne Terre can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,370. The brand of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.50 | $14,720 | $13,459 | 13.1 years |
| 8 kW | $3.44 | $19,249 | $18,323 | 12.8 years |
| 10 kW | $3.37 | $23,590 | $23,376 | 12.6 years |
| 12 kW | $3.30 | $27,742 | $28,617 | 12.3 years |
| 14 kW | $3.24 | $31,705 | $34,047 | 12.1 years |
| 16 kW | $3.17 | $35,479 | $39,666 | 11.8 years |
| 18 kW | $3.10 | $39,065 | $45,473 | 11.6 years |
| 20 kW | $3.03 | $42,462 | $51,470 | 11.3 years |
How to Save on Solar Panels
There are numerous companies available in Bonne Terre, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Bonne Terre, MO Solar Cost FAQs
What is the average cost of installing solar panels in Bonne Terre?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $16,850 for a 5-kW system and $33,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Bonne Terre?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $939.32 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.