Solar Panel Cost Guide in Grand River, MO (2024 Update)
- Grand River Solar Installation Cost: $17,285
- 25-Year Savings: $23,615
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Grand River
Find out what the average cost of installing solar panels is in Grand River.
The average cost of a solar panel system in Grand River is 3 per watt.The average Grand River homeowner needs a 7.3-kilowatt system, which would cost about $17,285 with the federal tax credit, or $24,718 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Grand River homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Even with the high upfront cost, the average Grand River homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Grand River
| Year | Return on Investment |
|---|---|
| 1 years | $-15,994 |
| 3 years | $-13,413 |
| 5 years | $-10,832 |
| 7 years | $-8,251 |
| 9 years | $-5,670 |
| 11 years | $-3,088 |
| 13 years | $-507 |
| 15 years | $2,074 |
| 17 years | $4,655 |
| 19 years | $7,236 |
| 21 years | $9,817 |
| 23 years | $12,398 |
| 25 years | $14,979 |
Top Solar Installers in Grand River
Although it's possible to install solar panels on your own, it requires extra energy and knowledge. For that reason, most people choose a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your family.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Grand River
Factors that Affect Solar Panel Costs in Grand River
The cost of installing a solar system in Grand River can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,370.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space 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 raise the cost.
Solar Financing Terms
Most solar companies in Grand River provide solar loans, which reduce your upfront costs of installing solar panels.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Grand River, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Grand River 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 walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $15,496 | 12.2 years |
| 8 kW | $3.44 | $19,249 | $21,038 | 11.9 years |
| 10 kW | $3.37 | $23,590 | $26,770 | 11.7 years |
| 12 kW | $3.30 | $27,742 | $32,690 | 11.5 years |
| 14 kW | $3.24 | $31,705 | $38,798 | 11.2 years |
| 16 kW | $3.17 | $35,479 | $45,096 | 11.0 years |
| 18 kW | $3.10 | $39,065 | $51,582 | 10.8 years |
| 20 kW | $3.03 | $42,462 | $58,257 | 10.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose considerably affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you care about the durability of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Installation Process: When making the switch to solar energy, it’s essential to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project timeline.
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 Grand River, MO Solar Cost FAQs
What is the average cost of installing solar panels in Grand River?
The average cost of solar panels in Grand River is about $16,850 for a 5-kW system and $33,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Grand River?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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 bang for your buck from going solar.
Is it worth going solar in Grand River?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.