Solar Panel Cost Guide in Smithville, MO (Mar 2023)
- Smithville Solar Installation Cost: $13,162
- 25-Year Savings: $18,851
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Smithville
We break down average solar pricing in Smithville.
The national average cost of solar panels is $2.66 per watt, but in Smithville it's 2.59 per watt. Using this figure, a typical 7.3-kW system would cost about $13,162 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Smithville homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a sound investment. The average homeowner in Smithville can save around $17,000 on their electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Smithville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,882 |
| 3 years | $-9,321 |
| 5 years | $-6,760 |
| 7 years | $-4,199 |
| 9 years | $-1,638 |
| 11 years | $923 |
| 13 years | $3,485 |
| 15 years | $6,046 |
| 17 years | $8,607 |
| 19 years | $11,168 |
| 21 years | $13,729 |
| 23 years | $16,290 |
| 25 years | $18,851 |
Top Solar Installers in Smithville
When making the switch to solar, many homeowners opt to hire a solar installation company since installing solar panels yourself can be a challenging project. Some solar installers, especially local ones, can help you make the most of incentives in Smithville, thereby optimizing your ROI.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Smithville
Factors that Affect Solar Panel Costs in Smithville
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Smithville: 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 Smithville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $2,590 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Smithville average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Smithville homeowners opt to finance their solar panel systems to make going solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Smithville know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $2.69 | $11,313 | $15,128 | 10.7 years |
| 8 kW | $2.64 | $14,794 | $20,461 | 10.5 years |
| 10 kW | $2.59 | $18,130 | $25,939 | 10.3 years |
| 12 kW | $2.54 | $21,321 | $31,562 | 10.1 years |
| 14 kW | $2.49 | $24,367 | $37,330 | 9.9 years |
| 16 kW | $2.43 | $27,268 | $43,243 | 9.7 years |
| 18 kW | $2.38 | $30,023 | $49,301 | 9.5 years |
| 20 kW | $2.33 | $32,634 | $55,505 | 9.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which installer you should go with, since different companies have access to different panels.
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 Smithville, MO Solar Cost FAQs
What is the average cost of installing solar panels in Smithville?
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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for 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 solar panels."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.