Solar Panel Cost Guide in Eldon, MO (2024 Update)
- Eldon Solar Installation Cost: $16,887
- 25-Year Savings: $18,663
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Eldon
Let’s have a look at the average cost of solar panels in Eldon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Eldon, the average cost of solar panels is 3 per watt.The average solar panel system size in Eldon is around 7.2 kilowatts, meaning a cost of about $16,887 for a solar installation, or $24,148 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you want, your solar contractor and more.Even with the significant initial cost, the average Eldon homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Eldon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,597 |
| 3 years | $-13,015 |
| 5 years | $-10,434 |
| 7 years | $-7,853 |
| 9 years | $-5,272 |
| 11 years | $-2,691 |
| 13 years | $-110 |
| 15 years | $2,471 |
| 17 years | $5,053 |
| 19 years | $7,634 |
| 21 years | $10,215 |
| 23 years | $12,796 |
| 25 years | $15,377 |
Top Solar Installers in Eldon
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make your swap to solar power much easier. The expertise that solar installers offer can be helpful as well, especially if you don’t quite know what kind of solar equipment you need.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
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 Eldon
Factors that Affect Solar Panel Costs in Eldon
The cost of installing a solar system in Eldon can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,370 per kilowatt in Eldon.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Eldon, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Eldon is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, you’ll have many options for solar installers that offer a range of services at different price points.Additionally, some companies in Eldon know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $3.50 | $14,720 | $11,800 | 13.9 years |
| 8 kW | $3.44 | $19,249 | $16,111 | 13.6 years |
| 10 kW | $3.37 | $23,590 | $20,611 | 13.3 years |
| 12 kW | $3.30 | $27,742 | $25,299 | 13.1 years |
| 14 kW | $3.24 | $31,705 | $30,176 | 12.8 years |
| 16 kW | $3.17 | $35,479 | $35,242 | 12.5 years |
| 18 kW | $3.10 | $39,065 | $40,496 | 12.3 years |
| 20 kW | $3.03 | $42,462 | $45,939 | 12.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s 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 Eldon, MO Solar Cost FAQs
How much does it cost to install solar panels in Eldon?
This is a tough question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Eldon?
You can’t get solar panels for free in Eldon. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
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 Eldon is currently $164,206, so you can look forward to a value of about $6,732 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Eldon is a fruitful investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.