Solar Panel Cost Guide in Platte City, MO (2023 Update)
- Platte City Solar Installation Cost: $13,171
- 25-Year Savings: $18,933
- Payback Period: 10.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Platte City
We break down average solar pricing in Platte City.
Although the national average of solar panels is $2.66 per watt, solar panels in Platte City generally cost about 2.59. Using this figure, a typical 7.3-kW system would cost about $13,162 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of equipment you want to get, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Platte City for a quote for your home.
Solar savings over time in Platte City
| Year | Return on Investment |
|---|---|
| 1 years | $-11,763 |
| 3 years | $-8,947 |
| 5 years | $-6,131 |
| 7 years | $-3,315 |
| 9 years | $-499 |
| 11 years | $2,317 |
| 13 years | $5,133 |
| 15 years | $7,949 |
| 17 years | $10,765 |
| 19 years | $13,581 |
| 21 years | $16,397 |
| 23 years | $19,213 |
| 25 years | $22,029 |
Top Solar Installers in Platte City
When switching to solar energy, many homeowners prefer to go with a solar installation company since DIY solar panel installation can be a challenging project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers in Platte City:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Platte City
Factors that Affect Solar Panel Costs in Platte City
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Platte City: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Platte City average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Platte City, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. While solar loans make switching to solar energy more accessible for Platte City homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Platte City is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that provide a range of services at different price points. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $15,201 | 10.7 years |
| 8 kW | $2.64 | $14,794 | $20,559 | 10.5 years |
| 10 kW | $2.59 | $18,130 | $26,061 | 10.3 years |
| 12 kW | $2.54 | $21,321 | $31,708 | 10.1 years |
| 14 kW | $2.49 | $24,367 | $37,501 | 9.8 years |
| 16 kW | $2.43 | $27,268 | $43,438 | 9.6 years |
| 18 kW | $2.38 | $30,023 | $49,520 | 9.4 years |
| 20 kW | $2.33 | $32,634 | $55,748 | 9.2 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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Platte City, MO Solar Cost FAQs
How much does it cost to install solar panels in Platte City?
This is a difficult question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Platte City?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 savings from going solar.
Can you sell solar power back to the grid in Platte City?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated 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 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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.