Solar Panel Cost Guide in Riverside, MO (Mar 2023)
- Riverside Solar Installation Cost: $13,162
- 25-Year Savings: $28,490
- Payback Period: 7.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Riverside
Find out what the average cost of solar panel installation is in Riverside.
The national average cost of solar panels is $2.66 per watt, but in Riverside it's 2.59 per watt. The average Riverside homeowner needs a 7.3-kilowatt system, which would cost about $13,162 with the federal tax credit, or $18,822 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more. With typical savings of about $22,000 on electricity bills over 20 years, many homeowners in Riverside find installing solar panels can pay off big.
Click the button below to get connected to a highly rated solar panel company in Riverside for a custom estimate.
Solar savings over time in Riverside
| Year | Return on Investment |
|---|---|
| 1 years | $-11,496 |
| 3 years | $-8,164 |
| 5 years | $-4,832 |
| 7 years | $-1,500 |
| 9 years | $1,833 |
| 11 years | $5,165 |
| 13 years | $8,497 |
| 15 years | $11,829 |
| 17 years | $15,161 |
| 19 years | $18,494 |
| 21 years | $21,826 |
| 23 years | $25,158 |
| 25 years | $28,490 |
Top Solar Installers in Riverside
Although you can install solar panels yourself, it requires extra energy and know-how. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Another great thing about going with a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Riverside
Factors that Affect Solar Panel Costs in Riverside
Although the average cost of a solar system in Riverside is $13,162, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,590. There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. Even though solar loans make going solar more accessible for Riverside homeowners, they can also add to 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
Lastly, the company you get to install your solar system can influence how much it costs. Riverside's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $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 a lot of companies available in Riverside, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: 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 the terms of the warranty.
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
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 Riverside, MO Solar Cost FAQs
What is the average cost of installing 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 kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Riverside?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 financial benefits from going solar.
How much can I save on energy bills after installing solar panels?
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 $1,146.67 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.