Solar Panel Cost Guide in Cape Girardeau, MO (Feb 2023)
- Cape Girardeau Solar Installation Cost: $12,927
- 25-Year Savings: $19,019
- Payback Period: 10.1 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Cape Girardeau
See how much it might cost to switch to solar power in Cape Girardeau.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cape Girardeau, the typical cost of solar panels is $3 per watt. To cover the typical energy needs of the average home in Cape Girardeau, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,927, or $9,566 after the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Cape Girardeau based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on utility bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cape Girardeau
| Year | Return on Investment |
|---|---|
| 1 years | $-11,649 |
| 3 years | $-9,093 |
| 5 years | $-6,538 |
| 7 years | $-3,982 |
| 9 years | $-1,426 |
| 11 years | $1,129 |
| 13 years | $3,685 |
| 15 years | $6,241 |
| 17 years | $8,796 |
| 19 years | $11,352 |
| 21 years | $13,908 |
| 23 years | $16,463 |
| 25 years | $19,019 |
Top Solar Installers in Cape Girardeau
When going solar, many homeowners prefer to use a solar installer since putting up a solar system yourself can be a challenging project. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your family.
If you're searching for a solar installer in Cape Girardeau, the EcoWatch team has compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Cape Girardeau
Factors that Affect Solar Panel Costs in Cape Girardeau
There are several factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar system in Cape Girardeau, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,590 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Cape Girardeau, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Cape Girardeau is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different costs. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $2.69 | $11,313 | $15,552 | 10.5 years |
| 8 kW | $2.64 | $14,794 | $21,026 | 10.3 years |
| 10 kW | $2.59 | $18,130 | $26,645 | 10.1 years |
| 12 kW | $2.54 | $21,321 | $32,409 | 9.9 years |
| 14 kW | $2.49 | $24,367 | $38,318 | 9.7 years |
| 16 kW | $2.43 | $27,268 | $44,373 | 9.5 years |
| 18 kW | $2.38 | $30,023 | $50,572 | 9.3 years |
| 20 kW | $2.33 | $32,634 | $56,916 | 9.1 years |
How to Save on Solar Panels
There are many companies to choose from in Cape Girardeau, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which company you should go with, since different companies offer different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Cape Girardeau, MO Solar Cost FAQs
How much does it cost to install solar panels in Cape Girardeau?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $12,950 for a 5-kW system and $25,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Cape Girardeau?
Leasing solar panels can be an attractive choice, because it usually 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 way to go if you want to get the most savings.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Cape Girardeau, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.