Solar Panel Cost Guide in Chillicothe, MO (2024 Update)
- Chillicothe Solar Installation Cost: $17,346
- 25-Year Savings: $20,207
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Chillicothe
See how much it might cost to switch to solar power in Chillicothe.
The average cost of solar panels in Chillicothe is 3 per watt.The average Chillicothe homeowner needs a 7.4-kilowatt system, which would cost about $17,346 with the federal tax credit, or $24,805 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Chillicothe homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the significant upfront cost, the average Chillicothe homeowner can save about $17,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar company in Chillicothe for a customized estimate.
Solar savings over time in Chillicothe
| Year | Return on Investment |
|---|---|
| 1 years | $-15,997 |
| 3 years | $-13,298 |
| 5 years | $-10,599 |
| 7 years | $-7,901 |
| 9 years | $-5,202 |
| 11 years | $-2,504 |
| 13 years | $195 |
| 15 years | $2,894 |
| 17 years | $5,592 |
| 19 years | $8,291 |
| 21 years | $10,989 |
| 23 years | $13,688 |
| 25 years | $16,387 |
Top Solar Installers in Chillicothe
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be a lot of work. In addition, if you’d like to maximize your investment in solar energy, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Chillicothe
Factors that Affect Solar Panel Costs in Chillicothe
For many Chillicothe homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Chillicothe, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,370. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Chillicothe, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. 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 Chillicothe to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact the cost. Chillicothe’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Chillicothe have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.50 | $14,720 | $12,647 | 13.4 years |
| 8 kW | $3.44 | $19,249 | $17,239 | 13.2 years |
| 10 kW | $3.37 | $23,590 | $22,021 | 12.9 years |
| 12 kW | $3.30 | $27,742 | $26,992 | 12.7 years |
| 14 kW | $3.24 | $31,705 | $32,151 | 12.4 years |
| 16 kW | $3.17 | $35,479 | $37,498 | 12.2 years |
| 18 kW | $3.10 | $39,065 | $43,035 | 11.9 years |
| 20 kW | $3.03 | $42,462 | $48,760 | 11.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Chillicothe, MO Solar Cost FAQs
How much does it cost to install solar panels in Chillicothe?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $16,850 for a 5-kW system and $33,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality 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 efficient solar panels.
Is it better to lease or buy solar panels in Chillicothe?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most 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 opt 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 long do solar panels last in Chillicothe?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose 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.