Solar Panel Cost Guide in Salem, MO (2024 Update)
- Salem Solar Installation Cost: $16,841
- 25-Year Savings: $18,661
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Salem
Find out how much it might cost to go solar in Salem.
In Salem, solar panels cost about 3 per watt on average.Since a 7.1-kW system is needed to cover the energy consumption of a typical home in Salem, the average price of going solar will be about $16,841 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Salem homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Salem see about $18,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar company in your area for a personalized estimate.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-15,550 |
| 3 years | $-12,969 |
| 5 years | $-10,388 |
| 7 years | $-7,807 |
| 9 years | $-5,227 |
| 11 years | $-2,646 |
| 13 years | $-65 |
| 15 years | $2,516 |
| 17 years | $5,097 |
| 19 years | $7,678 |
| 21 years | $10,259 |
| 23 years | $12,840 |
| 25 years | $15,421 |
Top Solar Installers in Salem
When going solar, many homeowners opt to use a solar installer since overseeing your solar installation yourself can be a challenging project. Plus, if you’re unsure what type of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Salem
Factors that Affect Solar Panel Costs in Salem
The cost of installing a solar system in Salem can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Salem, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can play a part in determining your pricing. Salem’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Salem have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.50 | $14,720 | $11,841 | 13.9 years |
| 8 kW | $3.44 | $19,249 | $16,166 | 13.6 years |
| 10 kW | $3.37 | $23,590 | $20,679 | 13.3 years |
| 12 kW | $3.30 | $27,742 | $25,381 | 13.1 years |
| 14 kW | $3.24 | $31,705 | $30,271 | 12.8 years |
| 16 kW | $3.17 | $35,479 | $35,351 | 12.5 years |
| 18 kW | $3.10 | $39,065 | $40,619 | 12.3 years |
| 20 kW | $3.03 | $42,462 | $46,076 | 12.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Salem, MO Solar Cost FAQs
What is the average cost of installing solar panels in Salem?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $16,850 for a 5-kW system and $33,700 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Salem?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback 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 way to go if you want to maximize your savings.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Salem, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Salem?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.