Solar Panel Cost Guide in Farmington, MO (2024 Update)
- Farmington Solar Installation Cost: $16,954
- 25-Year Savings: $15,310
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Farmington
Find out how much it might cost to go solar in Farmington.
The national average cost of solar panels is $2.66 per watt, but in Farmington it’s 3 per watt.The average Farmington homeowner needs a 7.2-kilowatt system, which would cost about $16,954 with the federal tax credit, or $24,244 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Farmington see about $17,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-15,663 |
| 3 years | $-13,082 |
| 5 years | $-10,501 |
| 7 years | $-7,920 |
| 9 years | $-5,339 |
| 11 years | $-2,758 |
| 13 years | $-177 |
| 15 years | $2,405 |
| 17 years | $4,986 |
| 19 years | $7,567 |
| 21 years | $10,148 |
| 23 years | $12,729 |
| 25 years | $15,310 |
Top Solar Installers in Farmington
When going solar, many homeowners opt to go with a solar installer since putting up a solar system yourself can be a challenging project. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Farmington
Factors that Affect Solar Panel Costs in Farmington
There are a number of criteria that can determine 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 price of a solar energy system in Farmington, one of the most important 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 usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,370 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Farmington average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Farmington, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Farmington is the company you get to install your solar system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets.Additionally, some companies in Farmington are more knowledgeable about local solar incentives and can help you take advantage 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 | $3.50 | $14,720 | $12,344 | 13.6 years |
| 8 kW | $3.44 | $19,249 | $16,836 | 13.3 years |
| 10 kW | $3.37 | $23,590 | $21,517 | 13.1 years |
| 12 kW | $3.30 | $27,742 | $26,386 | 12.8 years |
| 14 kW | $3.24 | $31,705 | $31,444 | 12.6 years |
| 16 kW | $3.17 | $35,479 | $36,691 | 12.3 years |
| 18 kW | $3.10 | $39,065 | $42,127 | 12.0 years |
| 20 kW | $3.03 | $42,462 | $47,751 | 11.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Warranty: If you care about the longevity of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
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 Farmington, MO Solar Cost FAQs
How much does it cost to install solar panels in Farmington?
This is a hard question to answer precisely, because the cost depends on a few different 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 consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Farmington?
A solar panel system isn’t free in Farmington, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.