Solar Panel Cost Guide in Platte City, MO (Mar 2023)
- Platte City Solar Installation Cost: $13,162
- 25-Year Savings: $18,942
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Platte City
Find out what the average cost of solar panel installation is in Platte City.
The national average cost of solar panels is $2.66 per watt, but in Platte City it's 2.59 per watt. Since a 7.3-kW system is needed to cover the energy usage of a typical home in Platte City, the average price of going solar will be about $13,162 after claiming the federal solar tax credit of 30%.
The actual price you pay can be higher or lower than the average in Platte City based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. But, after you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar installer in your area for a custom estimate.
Solar savings over time in Platte City
| Year | Return on Investment |
|---|---|
| 1 years | $-11,878 |
| 3 years | $-9,310 |
| 5 years | $-6,741 |
| 7 years | $-4,173 |
| 9 years | $-1,605 |
| 11 years | $964 |
| 13 years | $3,532 |
| 15 years | $6,100 |
| 17 years | $8,669 |
| 19 years | $11,237 |
| 21 years | $13,805 |
| 23 years | $16,374 |
| 25 years | $18,942 |
Top Solar Installers in Platte City
Many homeowners decide to hire a solar panel company since trying to put up solar panels yourself can be hard. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Platte City:
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 Platte City
Factors that Affect Solar Panel Costs in Platte City
There are a number of criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
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, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need 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. The brand of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Platte City to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. While solar loans make going solar more accessible for Platte City homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Platte City, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
Since the kind of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which installer you should go with, since different companies have different panels.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: Before you sign 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 sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
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 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.