Cost Of Installing Solar Panels In Missouri

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.

Cost of installing solar panels in missouri.

National data september 2020. There is also a favorable net metering policy. There are no state level tax credits for solar power in missouri but the 30 federal tax credit applies. 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.

That s cheaper than solar has ever been but it still might seem like a big investment. Installing a solar panel system costs an average of 23 597 and dropping most homeowners pay between 16 532 and 30 820 expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

The main incentives to switch to solar in missouri are the 500 kw rebate and the property tax exemption which ease up your cash flow during both pv system installation and ownership. With energy prices on the rise this may be the perfect time. The average cost of a solar panel installation in missouri ranges from 13 175 to 17 825. Average solar panel cost.

Solar panel cost data missouri 2020 updated. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 60 per watt. 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. On a cost per watt w basis a solar panel installation in missouri ranges in price from 2 64 to 3 56.

Installing a typical 10 kw solar system should start at about 27 000 after the 2020 missouri solar rebates. 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. Missouri solar power incentives tax breaks and rebates.

Here s how the numbers work for a 10 kw rooftop solar system in missouri. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt.