Solar Panel Cost Guide in Riverside, MO (2023 Update)
- Riverside Solar Installation Cost: $13,171
- 25-Year Savings: $28,481
- Payback Period: 7.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Riverside
Let's take a look at the average cost of solar in Riverside.
The average cost of a solar panel system in Riverside is 2.59 per watt. The average solar panel system size in Riverside is around 7.3 kilowatts, meaning a cost of about $13,162 for a solar installation, or $18,822 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 will differ based on your household energy consumption, the type of solar system you want, your solar contractor and more. With typical savings of about $22,000 on power bills over 20 years, many homeowners in Riverside find installing solar panels can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Riverside
| Year | Return on Investment |
|---|---|
| 1 years | $-13,032 |
| 3 years | $-12,755 |
| 5 years | $-12,477 |
| 7 years | $-12,199 |
| 9 years | $-11,922 |
| 11 years | $-11,644 |
| 13 years | $-11,366 |
| 15 years | $-11,089 |
| 17 years | $-10,811 |
| 19 years | $-10,533 |
| 21 years | $-10,256 |
| 23 years | $-9,978 |
| 25 years | $-9,700 |
Top Solar Installers in Riverside
Putting up solar panels on your own can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
If you'd like to switch to solar energy but still aren't certain which solar system company to go with, here are our suggestions for providers near you:
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 Riverside
Factors that Affect Solar Panel Costs in Riverside
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Riverside: 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
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,590. The type 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 be more costly. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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
Most solar companies in Riverside provide solar loans, which reduce your upfront costs of installing solar panels. Though solar loans make adopting solar energy more accessible for Riverside 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better 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 companies.
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 | $23,087 | 8.2 years |
| 8 kW | $2.64 | $14,794 | $31,073 | 8.1 years |
| 10 kW | $2.59 | $18,130 | $39,204 | 7.9 years |
| 12 kW | $2.54 | $21,321 | $47,479 | 7.7 years |
| 14 kW | $2.49 | $24,367 | $55,900 | 7.6 years |
| 16 kW | $2.43 | $27,268 | $64,466 | 7.4 years |
| 18 kW | $2.38 | $30,023 | $73,177 | 7.3 years |
| 20 kW | $2.33 | $32,634 | $82,033 | 7.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you're concerned about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Riverside, MO Solar Cost FAQs
How much does it cost to install solar panels in Riverside?
The average cost of solar panels in Riverside is about $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Riverside?
You can't get solar panels for free in Riverside. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Riverside is currently $209,607, so you could be looking at a value of about $8,594 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Riverside is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.