Solar Panel Cost Guide in Chillicothe, MO (2023 Update)
- Chillicothe Solar Installation Cost: $13,326
- 25-Year Savings: $20,213
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Chillicothe
We break down average solar pricing in Chillicothe.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Chillicothe, the typical cost of a solar system is 2.59 per watt. Since a 7.3-kW system is needed to cover the energy consumption of a typical home in Chillicothe, the average price of going solar will be about $13,326 after claiming the federal solar tax credit of 30%.
The true cost of your system can be above or below the average in Chillicothe based on several factors, such as the model of solar panels you choose and the solar company you hire. With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Chillicothe find investing in solar has a decent ROI.
To receive a free estimate from a top solar installation company in Chillicothe, you can click the button below.
Solar savings over time in Chillicothe
| Year | Return on Investment |
|---|---|
| 1 years | $-11,984 |
| 3 years | $-9,301 |
| 5 years | $-6,618 |
| 7 years | $-3,935 |
| 9 years | $-1,252 |
| 11 years | $1,431 |
| 13 years | $4,114 |
| 15 years | $6,797 |
| 17 years | $9,480 |
| 19 years | $12,164 |
| 21 years | $14,847 |
| 23 years | $17,530 |
| 25 years | $20,213 |
Top Solar Installers in Chillicothe
Although you can install solar panels by yourself, it involves extra energy and expertise. Because of that, almost all homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what brand of solar equipment you need.
If you'd like to go solar but still aren't certain which solar installer to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Chillicothe
Factors that Affect Solar Panel Costs in Chillicothe
While the average cost of a solar system in Chillicothe is $13,326, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Chillicothe, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Chillicothe to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Chillicothe, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Chillicothe have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $16,054 | 10.3 years |
| 8 kW | $2.64 | $14,794 | $21,695 | 10.1 years |
| 10 kW | $2.59 | $18,130 | $27,481 | 9.9 years |
| 12 kW | $2.54 | $21,321 | $33,412 | 9.7 years |
| 14 kW | $2.49 | $24,367 | $39,489 | 9.5 years |
| 16 kW | $2.43 | $27,268 | $45,710 | 9.3 years |
| 18 kW | $2.38 | $30,023 | $52,077 | 9.1 years |
| 20 kW | $2.33 | $32,634 | $58,588 | 8.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose considerably impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you're concerned about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which installer you should opt for, since different companies have different panels.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Chillicothe, MO Solar Cost FAQs
How much does it cost to install solar panels in Chillicothe?
This is a tough question to answer exactly, 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Chillicothe?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Chillicothe have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
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 goes down 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.