Solar Panel Cost Guide in Chillicothe, MO (2024 Update)
- Chillicothe Solar Installation Cost: $17,346
- 25-Year Savings: $20,207
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Chillicothe
See how much it might cost to switch to solar power in Chillicothe.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Chillicothe, the typical cost of solar panels is 3 per watt.To cover the typical energy usage of the average home in Chillicothe, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs about $17,346, or $24,805 before the federal solar tax credit of 0 is applied.
How much you pay can go higher or lower than the average in Chillicothe depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire.Despite the large upfront cost, the average Chillicothe homeowner can save about $17,000 on their power bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a highly rated solar company in Chillicothe, you can click the button below.
Solar savings over time in Chillicothe
| Year | Return on Investment |
|---|---|
| 1 years | $-15,997 |
| 3 years | $-13,298 |
| 5 years | $-10,599 |
| 7 years | $-7,901 |
| 9 years | $-5,202 |
| 11 years | $-2,504 |
| 13 years | $195 |
| 15 years | $2,894 |
| 17 years | $5,592 |
| 19 years | $8,291 |
| 21 years | $10,989 |
| 23 years | $13,688 |
| 25 years | $16,387 |
Top Solar Installers in Chillicothe
When switching to solar energy, many homeowners opt to go with a solar company since installing a solar system yourself can be a difficult project. Some solar installers, particularly local ones, can help you make the most of incentives in Chillicothe, optimizing your ROI.
If you’d like to switch to solar energy but still aren’t sure which solar panel company to go with, here are our suggestions for providers in Chillicothe:
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 Chillicothe
Factors that Affect Solar Panel Costs in Chillicothe
For many Chillicothe homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Chillicothe, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Chillicothe, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by about $3,370 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Chillicothe homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can impact your pricing. Chillicothe’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.
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 | $12,647 | 13.4 years |
| 8 kW | $3.44 | $19,249 | $17,239 | 13.2 years |
| 10 kW | $3.37 | $23,590 | $22,021 | 12.9 years |
| 12 kW | $3.30 | $27,742 | $26,992 | 12.7 years |
| 14 kW | $3.24 | $31,705 | $32,151 | 12.4 years |
| 16 kW | $3.17 | $35,479 | $37,498 | 12.2 years |
| 18 kW | $3.10 | $39,065 | $43,035 | 11.9 years |
| 20 kW | $3.03 | $42,462 | $48,760 | 11.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Chillicothe, MO Solar Cost FAQs
What is the average cost of installing solar panels in Chillicothe?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Chillicothe?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback 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.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Chillicothe is currently $158,079, which means you can expect a value of about $6,481 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Chillicothe is a rewarding investment.
How long do solar panels last in Chillicothe?
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 level 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.