Solar Panel Cost Guide in Pike, MO (2023 Update)
- Pike Solar Installation Cost: $12,800
- 25-Year Savings: $16,903
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Pike
We go over average solar pricing in Pike.
Although the national average of solar panels is $2.66 per watt, solar panels in Pike typically cost around 2.59. To cover the typical energy needs of the average home in Pike, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,800, or $18,304 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs may look different based on your specific situation and what company you choose to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Pike can save about $16,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Pike
| Year | Return on Investment |
|---|---|
| 1 years | $-11,612 |
| 3 years | $-9,235 |
| 5 years | $-6,859 |
| 7 years | $-4,483 |
| 9 years | $-2,107 |
| 11 years | $269 |
| 13 years | $2,646 |
| 15 years | $5,022 |
| 17 years | $7,398 |
| 19 years | $9,774 |
| 21 years | $12,150 |
| 23 years | $14,527 |
| 25 years | $16,903 |
Top Solar Installers in Pike
Although it's possible to install solar panels by yourself, it requires extra effort and knowledge. That's why almost all homeowners choose to hire a solar panel installer. The expertise that solar companies offer can be invaluable as well, especially if you don't quite know what brand of solar equipment would be right for your home.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Pike
Factors that Affect Solar Panel Costs in Pike
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Pike: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Pike, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $2,590 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Pike, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your all-in costs, so it's important to consider that as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
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 Pike, 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 undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $13,930 | 11.2 years |
| 8 kW | $2.64 | $14,794 | $18,864 | 11.0 years |
| 10 kW | $2.59 | $18,130 | $23,942 | 10.8 years |
| 12 kW | $2.54 | $21,321 | $29,166 | 10.6 years |
| 14 kW | $2.49 | $24,367 | $34,535 | 10.3 years |
| 16 kW | $2.43 | $27,268 | $40,048 | 10.1 years |
| 18 kW | $2.38 | $30,023 | $45,707 | 9.9 years |
| 20 kW | $2.33 | $32,634 | $51,511 | 9.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar company, be sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you want plays a role in which installer you should opt for, since different companies offer different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Pike, MO Solar Cost FAQs
How much does it cost to install solar panels in Pike?
This is a difficult question to answer exactly, 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 other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Pike?
You can't get solar panels for free in Pike. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.