In the last seven years, the amount of energy produced through solar in Missouri has shot up three-fold. It’s interesting to note that the majority of the solar energy used in the state comes from smaller-scale home solar installations. Residential solar is big business in Missouri.
Solar panels offer a distinct set of benefits to consumers. Owning a solar PV system in your home allows you to take control of your own energy consumption, saving you a considerable amount of money on your electricity bills.
If you’re thinking about hiring a solar installation company, you’ll need to know how much solar panels cost in your area as well as which of the Missouri solar incentives you’ll be eligible for.
In this guide, we’ll take a look at solar rebates and solar tax credits in the Missouri area.
How Much Does a Solar Installation Cost In Missouri?
Solar panels will help reduce the carbon footprint of your home. This, along with the financial savings associated with solar panel ownership are the main motivating forces for people making the switch to solar.
The first thing you’ll need to factor in is how much you can expect to pay for solar panels on your Missouri home.
At the moment, the average price for a solar installation in the state of Missouri is $14,461.
There are several factors that determine how many panels you’ll need. The number of people living in the property, as well as its size, will have a major impact. A company such as Blue Raven Solar will be able to give you an exact costing based on the size of your home and your energy consumption needs.
Which Missouri Solar Incentives Are Available?
Although $14,461 may seem like quite a lot of money to spend out on getting solar panels, you won’t need to pay all of this amount yourself. There are a number of different schemes operating on a federal and state level that are designed to encourage homeowners to adopt renewable energy in their homes.
The current federal solar tax credit scheme will see you save 26% on the cost of your solar panels. Be quick though, as this is set to drop to 22% for any solar panels installed in 2023.
In addition to this saving, you may also be entitled to rebates from your energy provider. Several of the major utility companies operating in Missouri have incentives that could see you saving an additional several hundred dollars.
Depending on the size of your PV system, you may be eligible for net metering. This is where you earn credits off your next energy bill by generating power.
There Has Never Been a Better Time to Switch to Solar
With the current selection of Missouri solar incentives at your disposal, getting solar panels has never been as easy and as accessible, Make sure you take advantage of the full extent of the solar tax credits by getting panels installed sooner rather than later.
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