Cost of solar panels missouri

How much do solar panels cost in Missouri?

Solar panels will save you a lot of money over time, but the upfront costs aren't cheap. The average Missouri homeowner needs a 12.21 kW solar panel system to cover their electricity needs, which comes out to $35,321 before incentives. Prices range from $30,023 to $40,619, but after the federal tax credit, that drops by 30%.

How can I lower the cost of my solar panel system in Missouri?

To reduce the cost of installing solar panels in Missouri, you can take advantage of some important incentives. The major federal tax credit that provides a 30% rebate on the cost of any clean energy installations to your home is available to all US residents.

Are solar panels a good investment in Missouri?

Solar panel systems in Missouri are expensive, but incentives from the state and federal governments can help you reduce the upfront cost. Between the federal tax credit and other state-specific incentives, you can save thousands on solar panels, making them well worth the investment.

Does Missouri offer a solar tax credit?

Missouri itself does not offer a solar tax credit. Levelized cost of power from this typical solar system installed on a home in Missouri over 25 years is 5.9 cents/kWh. Average cost of utility power over 25 years (if you don't get solar) is 19.4 cents/kWh.

What incentives are available for solar installation in Missouri?

The biggest incentive available to you in Missouri for solar installation is the federal Residential Clean Energy Credit, which covers up to 30% of the cost of your solar installation. This credit, recently extended and expanded under the Inflation Reduction Act, has no limit on how much you can claim.

How much do solar panels cost?

This is lower than the average price of residential solar power systems across the United States which is currently $3.00 per watt. The size of a solar panel system also plays a role in how much the installation will cost. Larger solar installations will typically have a lower cost per watt, because the panels can be purchased at a ‘bulk price’.