Cost Of Installing Solar Panels In Missouri

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.

Cost of installing solar panels in missouri.

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. How long does it take to earn back your initial investment in solar panels. The average cost of a solar panel installation in missouri ranges from 13 175 to 17 825. As of september 2020 the average solar panel cost in saint louis mo is 2 98 w.

On a cost per watt w basis a solar panel installation in missouri ranges in price from 2 64 to 3 56. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. Solar incentives rebates and tax credits available in missouri in 2020. 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 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. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt. The installed cost of a 5 kw solar pv system in missouri is around 19 000. Don t worry because after tax breaks and energy savings your first year costs will be considerably less than that.

Installing a typical 10 kw solar system should start at about 27 000 after the 2020 missouri solar rebates. Department of energy s national renewable energy laboratory s nrel solar maps. That s cheaper than solar has ever been but it still might seem like a big investment. 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.

As of september 2020 the average solar panel cost in missouri is 3 10 w. Missouri s solar resources actually exceed those of germany which leads the world in solar energy production on less than. The costs and savings for a 5 kw pv system in missouri can be broken down as follows.