Solar Panel Cost Guide in Grand River, MO (2023 Update)
- Grand River Solar Installation Cost: $13,284
- 25-Year Savings: $23,615
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Grand River
Find out what the average cost of solar panel installation is in Grand River.
The national average cost of solar panels is $2.66 per watt, but in Grand River it's 2.59 per watt. To account for the typical energy needs of the average home in Grand River, most homeowners require a 7.3-kilowatt system. Using the figure above, a solar installation costs about $13,289, or $19,003 before the federal solar tax credit of 30% is applied.
The actual price you pay can go above or below the average in Grand River based on several factors, such as the kind of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $19,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a custom quote.
Solar savings over time in Grand River
| Year | Return on Investment |
|---|---|
| 1 years | $-11,994 |
| 3 years | $-9,412 |
| 5 years | $-6,831 |
| 7 years | $-4,250 |
| 9 years | $-1,669 |
| 11 years | $912 |
| 13 years | $3,493 |
| 15 years | $6,074 |
| 17 years | $8,656 |
| 19 years | $11,237 |
| 21 years | $13,818 |
| 23 years | $16,399 |
| 25 years | $18,980 |
Top Solar Installers in Grand River
Installing solar panels yourself can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, especially if you aren't sure what type of solar equipment you need.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our recommendations for providers near you:
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 Grand River
Factors that Affect Solar Panel Costs in Grand River
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Grand River: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Grand River, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,590 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 choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Grand River average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Grand River homeowners choose to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $18,903 | 9.4 years |
| 8 kW | $2.64 | $14,794 | $25,494 | 9.2 years |
| 10 kW | $2.59 | $18,130 | $32,230 | 9.0 years |
| 12 kW | $2.54 | $21,321 | $39,111 | 8.8 years |
| 14 kW | $2.49 | $24,367 | $46,137 | 8.6 years |
| 16 kW | $2.43 | $27,268 | $53,308 | 8.5 years |
| 18 kW | $2.38 | $30,023 | $60,624 | 8.3 years |
| 20 kW | $2.33 | $32,634 | $68,085 | 8.1 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The type of solar panel you want to install plays a role in which company you should choose, since different companies have access to different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Grand River?
You can't get solar panels for free in Grand River. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Grand River have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Grand River?
On average, solar panels can last 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.