Solar Panel Cost Guide in Shrewsbury, MO (2023 Update)
- Shrewsbury Solar Installation Cost: $17,060
- 25-Year Savings: $18,719
- Payback Period: 13.4 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Shrewsbury
We go over average solar pricing in Shrewsbury.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Shrewsbury, the typical cost of solar panels is 2.59 per watt.To cover the typical energy usage of the average home in Shrewsbury, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,108, or $18,744 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on power bills.
To receive a free estimate from a top solar installation company in Shrewsbury, you can click the button below.
Solar savings over time in Shrewsbury
| Year | Return on Investment |
|---|---|
| 1 years | $-15,769 |
| 3 years | $-13,188 |
| 5 years | $-10,607 |
| 7 years | $-8,026 |
| 9 years | $-5,445 |
| 11 years | $-2,864 |
| 13 years | $-283 |
| 15 years | $2,298 |
| 17 years | $4,880 |
| 19 years | $7,461 |
| 21 years | $10,042 |
| 23 years | $12,623 |
| 25 years | $15,204 |
Top Solar Installers in Shrewsbury
Although it's possible to install solar panels by yourself, it requires extra labor and expertise. That's why the majority of homeowners choose to go with a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Shrewsbury
Factors that Affect Solar Panel Costs in Shrewsbury
Cost is often 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 Shrewsbury: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Shrewsbury, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,590 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Shrewsbury, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Shrewsbury have solar loans, which reduce the initial cost of installing solar panels.Even though solar loans make going solar more accessible for Shrewsbury homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Shrewsbury, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.50 | $14,720 | $11,688 | 13.9 years |
| 8 kW | $3.44 | $19,249 | $15,962 | 13.7 years |
| 10 kW | $3.37 | $23,590 | $20,424 | 13.4 years |
| 12 kW | $3.30 | $27,742 | $25,075 | 13.1 years |
| 14 kW | $3.24 | $31,705 | $29,915 | 12.9 years |
| 16 kW | $3.17 | $35,479 | $34,943 | 12.6 years |
| 18 kW | $3.10 | $39,065 | $40,160 | 12.3 years |
| 20 kW | $3.03 | $42,462 | $45,566 | 12.1 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Not all solar companies 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 hire.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Shrewsbury, MO Solar Cost FAQs
What is the average cost of installing solar panels in Shrewsbury?
The average cost of solar panels in Shrewsbury is about $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Shrewsbury?
Leasing solar panels can be an attractive choice, as it often 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.