Solar Panel Cost Guide in Springfield, MO (2023 Update)
- Springfield Solar Installation Cost: $12,773
- 25-Year Savings: $18,049
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Springfield
Find out what the average cost of a solar system is in Springfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Springfield, the average cost of a solar system is 2.59 per watt. The average solar panel system size in Springfield is around 7.0 kilowatts, meaning a cost of about $12,782 for a solar installation, or $18,278 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more. Despite the high initial cost, the average Springfield homeowner can save about $17,000 on their power bills over 20 years, which is one of the benefits of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Springfield
| Year | Return on Investment |
|---|---|
| 1 years | $-12,670 |
| 3 years | $-12,465 |
| 5 years | $-12,259 |
| 7 years | $-12,054 |
| 9 years | $-11,848 |
| 11 years | $-11,643 |
| 13 years | $-11,437 |
| 15 years | $-11,232 |
| 17 years | $-11,026 |
| 19 years | $-10,821 |
| 21 years | $-10,615 |
| 23 years | $-10,410 |
| 25 years | $-10,204 |
Top Solar Installers in Springfield
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with an installer can make converting to solar power much easier. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers nearby:
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 Springfield
Factors that Affect Solar Panel Costs in Springfield
The cost of installing a solar system in Springfield can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,590 per kilowatt in Springfield. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Springfield, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Many homeowners find the average cost of solar in Springfield to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. It's a good idea to add 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Springfield, and each can charge varying amounts for labor and equipment. Additionally, some companies in Springfield are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.69 | $11,313 | $14,936 | 10.8 years |
| 8 kW | $2.64 | $14,794 | $20,205 | 10.6 years |
| 10 kW | $2.59 | $18,130 | $25,619 | 10.4 years |
| 12 kW | $2.54 | $21,321 | $31,178 | 10.2 years |
| 14 kW | $2.49 | $24,367 | $36,882 | 9.9 years |
| 16 kW | $2.43 | $27,268 | $42,730 | 9.7 years |
| 18 kW | $2.38 | $30,023 | $48,724 | 9.5 years |
| 20 kW | $2.33 | $32,634 | $54,863 | 9.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installer 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 tips to keep in mind to help with your decision:
- Warranty: If you care about the longevity of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before signing a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations 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 the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Springfield, MO Solar Cost FAQs
How much does it cost to install solar panels in Springfield?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,950 for a 5-kW system and $25,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Springfield?
Leasing solar panels can be an option if you are unable to 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 savings from going solar.
Do solar panels increase your home value?
Solar panels can increase your property's value considerably 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% with a solar installation."
How long do solar panels last in Springfield?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.