Solar Panel Cost Guide in Independence, MO (2024 Update)
- Independence Solar Installation Cost: $17,106
- 25-Year Savings: $24,968
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Independence
Let’s have a look at the average cost of solar panels in Independence.
The average cost of solar panels in Independence is 3 per watt.Since a 7.3-kW system is needed to cover the energy costs of a typical home in Independence, the average price of going solar will be about $17,106 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Independence can save about $20,000 on their energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Independence
Year | Return on Investment |
---|---|
1 years | $-15,454 |
3 years | $-12,150 |
5 years | $-8,847 |
7 years | $-5,543 |
9 years | $-2,239 |
11 years | $1,065 |
13 years | $4,369 |
15 years | $7,672 |
17 years | $10,976 |
19 years | $14,280 |
21 years | $17,584 |
23 years | $20,888 |
25 years | $24,191 |
Top Solar Installers in Independence
When going solar, many homeowners decide to hire a solar company since installing solar panels yourself can be a time-consuming project. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions 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 Independence
Factors that Affect Solar Panel Costs in Independence
The cost of installing a solar system in Independence can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,370.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Independence average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Independence, which can bring down, or in some cases completely eliminate, your upfront costs to make 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 pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Independence, and each can charge different amounts for labor and equipment.Additionally, some companies in Independence know more about local solar incentives and can help you learn about 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 | $3.50 | $14,720 | $16,817 | 11.7 years |
8 kW | $3.44 | $19,249 | $22,800 | 11.4 years |
10 kW | $3.37 | $23,590 | $28,972 | 11.2 years |
12 kW | $3.30 | $27,742 | $35,333 | 11.0 years |
14 kW | $3.24 | $31,705 | $41,882 | 10.8 years |
16 kW | $3.17 | $35,479 | $48,620 | 10.5 years |
18 kW | $3.10 | $39,065 | $55,547 | 10.3 years |
20 kW | $3.03 | $42,462 | $62,662 | 10.1 years |
How to Save on Solar Panels
There are numerous companies to choose from in Independence, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Independence, MO Solar Cost FAQs
What is the average cost of installing solar panels in Independence?
This is a difficult 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Independence?
Leasing solar panels can be an attractive choice, as it typically 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 maximize your savings.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 opt to replace them once you've had them for that long or you can keep using 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.