Solar Panel Cost Guide in Raytown, MO (2023 Update)
- Raytown Solar Installation Cost: $13,125
- 25-Year Savings: $24,457
- Payback Period: 8.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Raytown
Let's take a look at the average cost of solar panels in Raytown.
Although the national average of solar panels is $2.66 per watt, solar panels in Raytown generally cost about 2.59. The average Raytown homeowner needs a 7.2-kilowatt system, which would cost about $13,126 with the federal tax credit, or $18,770 before the 30% tax credit is applied.
The true cost of your system can be higher or lower than the average in Raytown depending on a few factors, such as the type of solar panels you choose and the solar company you hire. Even with the high initial cost, the average Raytown homeowner can save about $20,000 on their power bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar company in Raytown that can help you get a more accurate cost estimate for your home.
Solar savings over time in Raytown
| Year | Return on Investment |
|---|---|
| 1 years | $-11,452 |
| 3 years | $-8,105 |
| 5 years | $-4,758 |
| 7 years | $-1,412 |
| 9 years | $1,935 |
| 11 years | $5,282 |
| 13 years | $8,628 |
| 15 years | $11,975 |
| 17 years | $15,322 |
| 19 years | $18,668 |
| 21 years | $22,015 |
| 23 years | $25,361 |
| 25 years | $28,708 |
Top Solar Installers in Raytown
When switching to solar energy, many homeowners opt to go with a solar company since putting up a solar system yourself can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can get a free quote from a local solar installer on the cost of solar panels 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
See all of the solar companies in Raytown
Factors that Affect Solar Panel Costs in Raytown
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Raytown: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,590 per kilowatt in Raytown. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Raytown homeowners opt to finance their solar panel systems to offset upfront costs. While solar loans make adopting solar energy more accessible for Raytown homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Raytown, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 | $19,834 | 9.1 years |
| 8 kW | $2.64 | $14,794 | $26,736 | 8.9 years |
| 10 kW | $2.59 | $18,130 | $33,783 | 8.7 years |
| 12 kW | $2.54 | $21,321 | $40,974 | 8.6 years |
| 14 kW | $2.49 | $24,367 | $48,311 | 8.4 years |
| 16 kW | $2.43 | $27,268 | $55,793 | 8.2 years |
| 18 kW | $2.38 | $30,023 | $63,419 | 8.0 years |
| 20 kW | $2.33 | $32,634 | $71,191 | 7.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you care about the durability of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Contract: Review the contract terms closely to make sure you understand the total cost, completion timeline rebates and warranties.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Raytown, MO Solar Cost FAQs
How much does it cost to install solar panels in Raytown?
This is a difficult question to answer precisely, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Raytown?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,038.25 per year.
How long do solar panels last in Raytown?
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.