Solar Panel Cost Guide in Malden, MO (2024 Update)
- Malden Solar Installation Cost: $16,400
- 25-Year Savings: $19,406
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Malden
See how much it might cost to switch to solar power in Malden.
While the national average of solar panels is $2.66 per watt, solar panels in Malden typically cost around 3.To account for the typical energy needs of the average home in Malden, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs around $16,400, or $23,452 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Malden 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.Even with the large upfront cost, the average Malden homeowner can save about $17,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Malden that can help you get a more accurate cost estimate for your home.
Solar savings over time in Malden
| Year | Return on Investment |
|---|---|
| 1 years | $-15,110 |
| 3 years | $-12,529 |
| 5 years | $-9,948 |
| 7 years | $-7,366 |
| 9 years | $-4,785 |
| 11 years | $-2,204 |
| 13 years | $377 |
| 15 years | $2,958 |
| 17 years | $5,539 |
| 19 years | $8,120 |
| 21 years | $10,701 |
| 23 years | $13,283 |
| 25 years | $15,864 |
Top Solar Installers in Malden
When switching to solar energy, many homeowners opt to use a solar installation company since DIY solar panel installation can be a difficult project. Another perk of using a solar company is that they can help you maximize your investment by lowering your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
If you're searching for a solar company in Malden, we've put together a list of our top suggestions here:
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 Malden
Factors that Affect Solar Panel Costs in Malden
The cost of installing a solar system in Malden can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Malden homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Malden, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Malden have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,906 | 13.3 years |
| 8 kW | $3.44 | $19,249 | $17,585 | 13.1 years |
| 10 kW | $3.37 | $23,590 | $22,453 | 12.8 years |
| 12 kW | $3.30 | $27,742 | $27,510 | 12.6 years |
| 14 kW | $3.24 | $31,705 | $32,755 | 12.3 years |
| 16 kW | $3.17 | $35,479 | $38,189 | 12.0 years |
| 18 kW | $3.10 | $39,065 | $43,812 | 11.8 years |
| 20 kW | $3.03 | $42,462 | $49,624 | 11.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Contract: When reading 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 such as a system component breaking or the company going out of business.
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 Malden, MO Solar Cost FAQs
What is the average cost of installing solar panels in Malden?
The average cost of solar panels in Malden 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $920.86 per year.
How often do you have to replace solar panels?
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 amount 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.