Solar Panel Cost Guide in Farmington, MO (2023 Update)
- Farmington Solar Installation Cost: $13,030
- 25-Year Savings: $19,388
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Farmington
Find out what the average cost of solar panel installation is in Farmington.
The national average cost of solar panels is $2.66 per watt, but in Farmington it's 2.59 per watt. Since a 7.2-kW system is needed to cover the energy needs of a typical home in Farmington, the average price of going solar will be about $13,035 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Farmington depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. With average savings of about $17,000 on electricity bills over 20 years, many homeowners in Farmington find investing in solar has a decent ROI.
To receive a free estimate from a pre-vetted solar installation company in Farmington, you can click the button below.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-11,739 |
| 3 years | $-9,158 |
| 5 years | $-6,577 |
| 7 years | $-3,996 |
| 9 years | $-1,415 |
| 11 years | $1,166 |
| 13 years | $3,747 |
| 15 years | $6,329 |
| 17 years | $8,910 |
| 19 years | $11,491 |
| 21 years | $14,072 |
| 23 years | $16,653 |
| 25 years | $19,234 |
Top Solar Installers in Farmington
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make switching to solar power much easier. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Farmington
Factors that Affect Solar Panel Costs in Farmington
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,590. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Farmington homeowners opt to finance their solar panel systems to make going solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
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 choose to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $15,751 | 10.5 years |
| 8 kW | $2.64 | $14,794 | $21,291 | 10.2 years |
| 10 kW | $2.59 | $18,130 | $26,977 | 10.0 years |
| 12 kW | $2.54 | $21,321 | $32,807 | 9.8 years |
| 14 kW | $2.49 | $24,367 | $38,783 | 9.6 years |
| 16 kW | $2.43 | $27,268 | $44,903 | 9.4 years |
| 18 kW | $2.38 | $30,023 | $51,169 | 9.2 years |
| 20 kW | $2.33 | $32,634 | $57,579 | 9.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The model of solar panel you'd like to get plays a part in which company you should opt for, since different companies provide different panels.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Farmington, MO Solar Cost FAQs
How much does it cost to install solar panels in Farmington?
The average cost of solar panels in Farmington is about $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Farmington?
Leasing solar panels can be an option if you can't 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.
Can you sell solar power back to the grid in Farmington?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 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.