Solar Panel Cost Guide in Lexington, MO (2024 Update)

  • Lexington Solar Installation Cost: $17,105
  • 25-Year Savings: $22,022
  • Payback Period: 12.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 24, 2025

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

See how much it might cost to switch to solar power in Lexington.

The average cost of a solar panel system in Lexington is 3 per watt.The average Lexington homeowner needs a 7.3-kilowatt system, which would cost about $17,105 with the federal tax credit, or $24,460 before the 0 tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you choose, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Lexington can save around $18,000 on their energy bills over 20 years.

To receive a free quote from a pre-vetted solar installation company in Lexington, you can click the button below.

Solar savings over time in Lexington

YearReturn on Investment
1 years$-15,432
3 years$-12,085
5 years$-8,738
7 years$-5,392
9 years$-2,045
11 years$1,302
13 years$4,648
15 years$7,995
17 years$11,342
19 years$14,688
21 years$18,035
23 years$21,382
25 years$24,728

Top Solar Installers in Lexington

Although it's possible to install solar panels by yourself, it takes extra labor and know-how. That's why almost all homeowners choose to go with a solar panel installer. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.

If you’d like to make the switch to solar but still aren’t certain which solar system installer to go with, here are our recommendations for providers in Lexington:

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Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

See all of the solar companies in Lexington

Factors that Affect Solar Panel Costs in Lexington

Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Lexington: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss 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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,370 per kilowatt in Lexington.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, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Lexington average.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Lexington homeowners choose to finance their solar panel systems to make going solar more affordable.It’s a good idea to factor 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 off the loan.

Solar Panel Installation Company

The solar installer 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 operating throughout Lexington, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.50$14,720$14,38112.6 years
8 kW$3.44$19,249$19,55212.4 years
10 kW$3.37$23,590$24,91212.2 years
12 kW$3.30$27,742$30,46011.9 years
14 kW$3.24$31,705$36,19711.7 years
16 kW$3.17$35,479$42,12311.4 years
18 kW$3.10$39,065$48,23811.2 years
20 kW$3.03$42,462$54,54110.9 years

How to Save on Solar Panels

Since the model of solar panels and the installation company you choose has an impact on 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:

  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
  • Warranty: If you’re concerned about the longevity of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
  • Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

EcoWatch's Lexington, MO Solar Cost FAQs

What is the average cost of installing solar panels in Lexington?

The average cost of solar panels in Lexington 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 stuff like 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 Lexington?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.

Can solar panels completely eradicate my power bills?

It is possible to erase your electricity bills with solar panels, but for most homeowners in Lexington, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Lexington?

On average, the lifespan of solar panels is 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 higher level 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.