Solar Panel Cost Guide in Lebanon, MO (2024 Update)
- Lebanon Solar Installation Cost: $16,799
- 25-Year Savings: $16,919
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Lebanon
Find out how much it might cost to switch to solar power in Lebanon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lebanon, the typical cost of solar panels is 3 per watt.The average Lebanon homeowner needs a 7.1-kilowatt system, which would cost about $16,799 with the federal tax credit, or $24,023 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Lebanon can save around $17,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Lebanon for a quote for your home.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,500 |
| 3 years | $-12,901 |
| 5 years | $-10,302 |
| 7 years | $-7,704 |
| 9 years | $-5,105 |
| 11 years | $-2,506 |
| 13 years | $93 |
| 15 years | $2,692 |
| 17 years | $5,290 |
| 19 years | $7,889 |
| 21 years | $10,488 |
| 23 years | $13,087 |
| 25 years | $15,686 |
Top Solar Installers in Lebanon
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make swapping over to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
Working with a licensed solar installer can help you make the most of your investment in solar. 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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Lebanon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,370 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Lebanon homeowners choose to finance their solar panel systems to offset upfront costs.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lebanon is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets.Additionally, some companies in Lebanon have more knowledge 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 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 | $10,412 | 14.6 years |
| 8 kW | $3.44 | $19,249 | $14,261 | 14.4 years |
| 10 kW | $3.37 | $23,590 | $18,298 | 14.1 years |
| 12 kW | $3.30 | $27,742 | $22,523 | 13.8 years |
| 14 kW | $3.24 | $31,705 | $26,938 | 13.5 years |
| 16 kW | $3.17 | $35,479 | $31,541 | 13.2 years |
| 18 kW | $3.10 | $39,065 | $36,333 | 13.0 years |
| 20 kW | $3.03 | $42,462 | $41,314 | 12.7 years |
How to Save on Solar Panels
There are numerous companies available in Lebanon, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: If you care about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
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 Lebanon, MO Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lebanon?
You can’t get solar panels for free in Lebanon. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lebanon is currently $204,848, so you can expect a value of about $8,399 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lebanon is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.