Solar Panel Cost Guide in Lemay, MO (2023 Update)
- Lemay Solar Installation Cost: $13,108
- 25-Year Savings: $18,723
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lemay
Let's take a look at the average cost of solar panels in Lemay.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lemay, the average cost of solar panels is 2.59 per watt. The average solar panel system size in Lemay is around 7.2 kilowatts, meaning a cost of about $13,108 for a solar installation, or $18,744 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more. Even with the significant upfront cost, the average Lemay homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar installer in your area for a customized quote.
Solar savings over time in Lemay
| Year | Return on Investment |
|---|---|
| 1 years | $-11,835 |
| 3 years | $-9,288 |
| 5 years | $-6,742 |
| 7 years | $-4,195 |
| 9 years | $-1,649 |
| 11 years | $898 |
| 13 years | $3,444 |
| 15 years | $5,990 |
| 17 years | $8,537 |
| 19 years | $11,083 |
| 21 years | $13,630 |
| 23 years | $16,176 |
| 25 years | $18,723 |
Top Solar Installers in Lemay
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be hard. The expertise that solar installers offer can be helpful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Lemay
Factors that Affect Solar Panel Costs in Lemay
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Lemay: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
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 that have better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,590. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Lemay average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Lemay homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Lemay is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $15,095 | 10.7 years |
| 8 kW | $2.64 | $14,794 | $20,417 | 10.5 years |
| 10 kW | $2.59 | $18,130 | $25,884 | 10.3 years |
| 12 kW | $2.54 | $21,321 | $31,496 | 10.1 years |
| 14 kW | $2.49 | $24,367 | $37,253 | 9.9 years |
| 16 kW | $2.43 | $27,268 | $43,155 | 9.7 years |
| 18 kW | $2.38 | $30,023 | $49,202 | 9.5 years |
| 20 kW | $2.33 | $32,634 | $55,394 | 9.3 years |
How to Save on Solar Panels
There are numerous companies available in Lemay, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand 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 offerings before deciding.
- 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 expectations you should have about the project timeline.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Lemay, MO Solar Cost FAQs
What is the average cost of installing solar panels in Lemay?
The average cost of solar panels in Lemay 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 things such as the type 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 Lemay?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 switching to solar power worth it?
Solar panels can be a fruitful 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 power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Lemay?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.