Cost Of Installing Solar Panels In Missouri

The costs and savings for a 5 kw pv system in missouri can be broken down as follows.

Cost of installing solar panels in missouri. The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit at the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. As of september 2020 the average solar panel cost in saint louis mo is 2 98 w. Missouri s solar resources actually exceed those of germany which leads the world in solar energy production on less than. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.

Missouri has more than 200 sunny days per year for an average of 4 5 to 5 0 kilowatt hour per square meter per day according to the u s. The average cost of a solar panel installation in missouri ranges from 13 175 to 17 825. As of sep 2020 the average cost of solar panels in missouri is 2 59 per watt making a typical 6000 watt 6 kw solar system 11 477 after claiming the 26 federal solar tax credit now available. Solar incentives rebates and tax credits available in missouri in 2020.

Don t worry because after tax breaks and energy savings your first year costs will be considerably less than that. As of september 2020 the average solar panel cost in missouri is 3 10 w. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. Installing a typical 10 kw solar system should start at about 27 000 after the 2020 missouri solar rebates.

The installed cost of a 5 kw solar pv system in missouri is around 19 000. How long does it take to earn back your initial investment in solar panels. Several local utilities offer a rebate of 500 kilowatt which means your project will cost 2 500 less bringing down the upfront investment to 16 500. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

Given a solar panel system size of 5 kilowatts kw an average solar installation in missouri ranges in cost from 13 175 to 17 825 with the average gross price for solar in missouri coming in at 15 500. Department of energy s national renewable energy laboratory s nrel solar maps. On a cost per watt w basis a solar panel installation in missouri ranges in price from 2 64 to 3 56.