Solar Panel Cost Guide in Pike, MO (2024 Update)
- Pike Solar Installation Cost: $16,654
- 25-Year Savings: $16,903
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Pike
See how much it might cost to switch to solar power in Pike.
The average cost of solar panels in Pike is 3 per watt.To account for 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 about $16,654, or $23,815 before the federal solar tax credit of 0 is applied.
How much you pay can go above or below the average in Pike based on a few factors, such as the brand of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a solid investment. The average homeowner in Pike can save around $16,000 on their power bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Pike
| Year | Return on Investment |
|---|---|
| 1 years | $-15,354 |
| 3 years | $-12,755 |
| 5 years | $-10,155 |
| 7 years | $-7,555 |
| 9 years | $-4,956 |
| 11 years | $-2,356 |
| 13 years | $244 |
| 15 years | $2,843 |
| 17 years | $5,443 |
| 19 years | $8,043 |
| 21 years | $10,642 |
| 23 years | $13,242 |
| 25 years | $15,842 |
Top Solar Installers in Pike
When going solar, many homeowners decide to use a solar installation company since putting up solar panels yourself can be a time-consuming project. In addition, if you’d like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 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 will push your cost above or below the average 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
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,370 per kilowatt in Pike.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Pike, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Pike, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your total costs, so it’s vital to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Pike is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different costs.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $10,523 | 14.6 years |
| 8 kW | $3.44 | $19,249 | $14,408 | 14.3 years |
| 10 kW | $3.37 | $23,590 | $18,482 | 14.0 years |
| 12 kW | $3.30 | $27,742 | $22,745 | 13.7 years |
| 14 kW | $3.24 | $31,705 | $27,196 | 13.5 years |
| 16 kW | $3.17 | $35,479 | $31,836 | 13.2 years |
| 18 kW | $3.10 | $39,065 | $36,665 | 12.9 years |
| 20 kW | $3.03 | $42,462 | $41,683 | 12.6 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
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 Pike, MO Solar Cost FAQs
What is the average cost of installing solar panels in Pike?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $16,850 for a 5-kW system and $33,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pike is currently $116,601, which means you can look forward to a value of about $4,781 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Pike is a worthwhile investment.
How often do you have to replace solar panels?
Even though 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 their energy production will have decreased significantly after that point. You can 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.