Solar Panel Cost Guide in Hannibal, MO (2025 Update)
- Hannibal Solar Installation Cost: $17,360
- 25-Year Savings: $22,121
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Hannibal
Find out what the average cost of a solar system is in Hannibal.
The average cost of a solar panel system in Hannibal is 3 per watt.Since a 7.4-kW system is needed to cover the energy costs of a typical home in Hannibal, the average price of going solar will be about $17,360 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Hannibal homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Hannibal find installing solar panels can pay off big.
Click the button below to get connected to a top solar company in your area for a customized quote.
Solar savings over time in Hannibal
| Year | Return on Investment |
|---|---|
| 1 years | $-16,070 |
| 3 years | $-13,488 |
| 5 years | $-10,907 |
| 7 years | $-8,326 |
| 9 years | $-5,745 |
| 11 years | $-3,164 |
| 13 years | $-583 |
| 15 years | $1,998 |
| 17 years | $4,580 |
| 19 years | $7,161 |
| 21 years | $9,742 |
| 23 years | $12,323 |
| 25 years | $14,904 |
Top Solar Installers in Hannibal
Putting up solar panels by yourself can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Hannibal
Factors that Affect Solar Panel Costs in Hannibal
Though the average cost of a solar system in Hannibal is $17,360, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher 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.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Hannibal, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Hannibal to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Hannibal, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $14,194 | 12.7 years |
| 8 kW | $3.44 | $19,249 | $19,302 | 12.5 years |
| 10 kW | $3.37 | $23,590 | $24,600 | 12.2 years |
| 12 kW | $3.30 | $27,742 | $30,086 | 12.0 years |
| 14 kW | $3.24 | $31,705 | $35,760 | 11.7 years |
| 16 kW | $3.17 | $35,479 | $41,624 | 11.5 years |
| 18 kW | $3.10 | $39,065 | $47,676 | 11.3 years |
| 20 kW | $3.03 | $42,462 | $53,917 | 11.0 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When making the switch to solar power, it’s essential to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project completion timeline.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
EcoWatch's Hannibal, MO Solar Cost FAQs
What is the average cost of installing solar panels in Hannibal?
The average cost of solar panels in Hannibal 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hannibal?
You can’t get solar panels for free in Hannibal. 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 rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hannibal is currently $143,120, so you could be looking at a value of about $5,868 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hannibal is a rewarding investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know 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 house 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.