Solar Panel Cost Guide in Marshall, MO (2023 Update)
- Marshall Solar Installation Cost: $13,144
- 25-Year Savings: $22,140
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Marshall
We break down average solar pricing in Marshall.
In Marshall, solar panels cost about 2.59 per watt on average. Since a 7.2-kW system is needed to cover the energy usage of a typical home in Marshall, the average price of going solar will be about $13,144 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. Many homeowners find installing a solar system is a solid investment. The average homeowner in Marshall can save around $18,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Marshall for a quote for your home.
Solar savings over time in Marshall
| Year | Return on Investment |
|---|---|
| 1 years | $-11,733 |
| 3 years | $-8,910 |
| 5 years | $-6,088 |
| 7 years | $-3,265 |
| 9 years | $-442 |
| 11 years | $2,381 |
| 13 years | $5,203 |
| 15 years | $8,026 |
| 17 years | $10,849 |
| 19 years | $13,671 |
| 21 years | $16,494 |
| 23 years | $19,317 |
| 25 years | $22,140 |
Top Solar Installers in Marshall
Installing solar panels yourself can be a difficult project, which is why getting a solar installer is a good option for many homeowners. The expertise that solar installers provide can be invaluable as well, especially if you aren't sure what brand of solar equipment you need.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers nearby:
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 Marshall
Factors that Affect Solar Panel Costs in Marshall
There are a number of factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,590. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Marshall offer solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact the cost. Marshall's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Marshall know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $2.69 | $11,313 | $17,876 | 9.7 years |
| 8 kW | $2.64 | $14,794 | $24,125 | 9.5 years |
| 10 kW | $2.59 | $18,130 | $30,519 | 9.3 years |
| 12 kW | $2.54 | $21,321 | $37,058 | 9.1 years |
| 14 kW | $2.49 | $24,367 | $43,742 | 8.9 years |
| 16 kW | $2.43 | $27,268 | $50,570 | 8.8 years |
| 18 kW | $2.38 | $30,023 | $57,544 | 8.6 years |
| 20 kW | $2.33 | $32,634 | $64,663 | 8.4 years |
How to Save on Solar Panels
There are a lot of companies available in Marshall, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 Marshall, MO Solar Cost FAQs
What is the average cost of installing solar panels in Marshall?
This is a tough question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Marshall?
Leasing solar panels can be an option if you can't afford to pay upfront or get 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 eliminate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Marshall, that will require at least a 10-kW system. Not all homes can accommodate 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 often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.