Solar Panel Cost Guide in El Dorado Springs, MO (2023 Update)
- El Dorado Springs Solar Installation Cost: $12,800
- 25-Year Savings: $23,068
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in El Dorado Springs
Find out what the average cost of a solar system is in El Dorado Springs.
Although the national average of solar panels is $2.66 per watt, solar panels in El Dorado Springs typically cost around 2.59. Because a 7.1-kW system is needed to cover the energy needs of a typical home in El Dorado Springs, the average price of going solar will be about $12,800 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what installation company you go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $19,000 over 20 years on energy bills.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized quote.
Solar savings over time in El Dorado Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-11,365 |
| 3 years | $-8,496 |
| 5 years | $-5,626 |
| 7 years | $-2,757 |
| 9 years | $113 |
| 11 years | $2,982 |
| 13 years | $5,852 |
| 15 years | $8,721 |
| 17 years | $11,591 |
| 19 years | $14,460 |
| 21 years | $17,330 |
| 23 years | $20,199 |
| 25 years | $23,068 |
Top Solar Installers in El Dorado Springs
Trying to put up solar panels by yourself can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 El Dorado Springs
Factors that Affect Solar Panel Costs in El Dorado Springs
Even though the average cost of a solar system in El Dorado Springs is $12,800, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,590. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like El Dorado Springs, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. 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 El Dorado Springs to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. You'll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $19,179 | 9.3 years |
| 8 kW | $2.64 | $14,794 | $25,862 | 9.1 years |
| 10 kW | $2.59 | $18,130 | $32,690 | 8.9 years |
| 12 kW | $2.54 | $21,321 | $39,664 | 8.7 years |
| 14 kW | $2.49 | $24,367 | $46,782 | 8.6 years |
| 16 kW | $2.43 | $27,268 | $54,045 | 8.4 years |
| 18 kW | $2.38 | $30,023 | $61,453 | 8.2 years |
| 20 kW | $2.33 | $32,634 | $69,007 | 8.0 years |
How to Save on Solar Panels
There are a lot of companies available in El Dorado Springs, and some homeowners feel overwhelmed considering their options. Selecting 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.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
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 El Dorado Springs, MO Solar Cost FAQs
How much does it cost to install solar panels in El Dorado Springs?
This is a hard 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in El Dorado Springs?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Can you sell solar power back to the grid in El Dorado Springs?
Each state has some form 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 power 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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.