Solar Panel Cost Guide in Malden, MO (Oct 2022)

  • Malden Solar Installation Cost: $12,600
  • 25-Year Savings: $19,410
  • Payback Period: 9.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Malden

Find out how much it might cost to switch to solar power in Malden.

The national average cost of solar panels is $2.66 per watt, but in Malden it's $3 per watt. The average solar panel system size in Malden is around 7.0 kilowatts, meaning a cost of about $12,600 for a solar installation, or $9,324 after the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Many homeowners find adopting solar power is a solid investment. The average homeowner in Malden can save around $17,000 on their electricity bills over 20 years.

To receive a free quote from a highly rated solar company in Malden, you can click the button below.

Solar savings over time in Malden

Year Return on Investment
1 years $-11,320
3 years $-8,759
5 years $-6,198
7 years $-3,637
9 years $-1,077
11 years $1,484
13 years $4,045
15 years $6,606
17 years $9,167
19 years $11,728
21 years $14,288
23 years $16,849
25 years $19,410

Top Solar Installers in Malden

When making the switch to solar, many homeowners prefer to hire a solar installation company since DIY solar panel installation can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.

Working with a licensed solar installer can make going solar easier. Here are our recommendations:

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

The Green Panel

★★★★★
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 Malden

Factors that Affect Solar Panel Costs in Malden

While the average cost of solar panels in Malden is $12,600, your actual cost may differ. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to consider.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size. Solar power systems that have higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,590. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, 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

If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. 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 the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Malden, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 $16,313 10.2 years
8 kW $2.64 $14,794 $22,040 10.0 years
10 kW $2.59 $18,130 $27,913 9.8 years
12 kW $2.54 $21,321 $33,931 9.6 years
14 kW $2.49 $24,367 $40,093 9.5 years
16 kW $2.43 $27,268 $46,401 9.3 years
18 kW $2.38 $30,023 $52,854 9.1 years
20 kW $2.33 $32,634 $59,452 8.9 years

Solar Incentives in Malden

Name Empire District Electric - Solar PV Rebates
Website Visit here
More Info Click here

Name Solar Property Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Wabash Valley Power Association (28 Member Cooperatives) - Residential Energy Efficiency Program
Website Visit here
More Info Click here

Name Ameren Missouri (Electric) - Residential Heating and Cooling Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Local Option - Clean Energy Development Boards
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:

  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
  • Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which company you should opt for, since different companies have different panels.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
  • Contract: Look through the contract terms closely to make sure you understand the total cost, completion timeline rebates and warranties.

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

The Green Panel

★★★★★
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 Malden, MO Solar Cost FAQs

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

This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality 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 Malden?

A solar panel system isn't free in Malden, 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 you can take advantage of.

Can you sell solar power back to the grid in Malden?

The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Malden?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.

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