Solar Panel Cost Guide in Lebanon, MO (2024 Update)
- Lebanon Solar Installation Cost: $16,799
- 25-Year Savings: $16,919
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Lebanon
Find out how much it might cost to switch to solar power in Lebanon.
The national average cost of solar panels is $2.66 per watt, but in Lebanon it’s 3 per watt.To cover the typical energy needs of the average home in Lebanon, most homeowners require a 7.1-kilowatt system. Using the figure above, a solar installation costs around $16,799, or $24,023 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lebanon homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,500 |
| 3 years | $-12,901 |
| 5 years | $-10,302 |
| 7 years | $-7,704 |
| 9 years | $-5,105 |
| 11 years | $-2,506 |
| 13 years | $93 |
| 15 years | $2,692 |
| 17 years | $5,290 |
| 19 years | $7,889 |
| 21 years | $10,488 |
| 23 years | $13,087 |
| 25 years | $15,686 |
Top Solar Installers in Lebanon
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using an installer can make swapping over to solar power much easier. Another perk of using a solar company is that they can help you make the most of your ROI by lowering your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $3,370 per kilowatt in Lebanon.The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Lebanon, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that provides the products, warranties and services you’re looking for and also fits within your budget.
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 | $10,412 | 14.6 years |
| 8 kW | $3.44 | $19,249 | $14,261 | 14.4 years |
| 10 kW | $3.37 | $23,590 | $18,298 | 14.1 years |
| 12 kW | $3.30 | $27,742 | $22,523 | 13.8 years |
| 14 kW | $3.24 | $31,705 | $26,938 | 13.5 years |
| 16 kW | $3.17 | $35,479 | $31,541 | 13.2 years |
| 18 kW | $3.10 | $39,065 | $36,333 | 13.0 years |
| 20 kW | $3.03 | $42,462 | $41,314 | 12.7 years |
How to Save on Solar Panels
There are a large number of companies available in Lebanon, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
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 Lebanon, MO Solar Cost FAQs
What is the average cost of installing solar panels in Lebanon?
The average cost of solar panels in Lebanon is about $16,850 for a 5-kW system and $33,700 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lebanon?
You can’t get solar panels for free in Lebanon. 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.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lebanon is currently $204,848, which means you could be looking at a value of about $8,399 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lebanon is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.