Solar Panel Cost Guide in Lexington, MO (Jan 2023)

  • Lexington Solar Installation Cost: $13,144
  • 25-Year Savings: $22,024
  • Payback Period: 9.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lexington

Let's take a look at the average cost of solar in Lexington.

While the national average of solar panels is $2.66 per watt, solar panels in Lexington generally cost around $3. The average solar panel system size in Lexington is around 7.2 kilowatts, meaning a cost of about $13,144 for a solar installation, or $9,727 after the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. For most homeowners, the upfront cost of solar is worth paying. On average Lexington homeowners see about $18,000 in savings on energy bills over 20 years.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Lexington

Year Return on Investment
1 years $-11,738
3 years $-8,924
5 years $-6,111
7 years $-3,297
9 years $-484
11 years $2,330
13 years $5,143
15 years $7,957
17 years $10,770
19 years $13,584
21 years $16,397
23 years $19,211
25 years $22,024

Top Solar Installers in Lexington

When going solar, many homeowners prefer to use a solar installation company since DIY solar panel installation can be a difficult project. The expertise that solar companies provide can be valuable as well, particularly if you aren't sure what type of solar equipment would be right for your home.

If you're looking for a solar installer in Lexington, the EcoWatch team has organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Lexington

Factors that Affect Solar Panel Costs in Lexington

For many Lexington homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Lexington, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar equipment you choose can bring your price up or down 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. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Lexington average.

Solar Financing Terms

Most solar companies in Lexington offer solar loans, which reduce the initial cost of installing a solar system. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Lexington, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.

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 $17,788 9.7 years
8 kW $2.64 $14,794 $24,007 9.5 years
10 kW $2.59 $18,130 $30,372 9.3 years
12 kW $2.54 $21,321 $36,881 9.2 years
14 kW $2.49 $24,367 $43,536 9.0 years
16 kW $2.43 $27,268 $50,335 8.8 years
18 kW $2.38 $30,023 $57,280 8.6 years
20 kW $2.33 $32,634 $64,369 8.4 years

How to Save on Solar Panels

Since the type of solar panels and the installation company you choose significantly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Installation Process: When making the switch to solar, it's necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the completion timeline.
  • Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
  • Contract: Before you sign a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Lexington, MO Solar Cost FAQs

How much does it cost to install solar panels in Lexington?

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,950 for a 5-kW system and $25,900 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Are solar panels free in Lexington?

A solar panel system isn't free in Lexington, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

How will solar panels impact my home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lexington is currently $130,600, which means you could be looking at a value of about $5,355 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lexington is a worthwhile investment.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 install between 20 and 35 panels to account for 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.

Follow us