MISSOURI
Solar in Missouri
The Show-Me state is no stranger to bright days. It has an annual average of 206 days, one day more than the United States’s sunny day average.* With so many sunshine-filled days, it’s no wonder that 83% of the state’s million-plus roofs are solar-viable.*
Missouri currently ranks 34th in the United States for solar energy.* However, the state offers plenty of incentives to encourage residents and businesses to embrace clean energy.
Solar potential in Missouri?
Missouri has a great potential for solar energy. The state receives an average of 4.5 hours of sunlight per day, which is above the national average of 3.8 hours of sunlight per day.
Missouri’s solar capacity continues to grow since the solar industry took root there in the early 2010s. According to the Solar Energy Industries Association (SEIA), the state has enough solar energy to power 33,187 homes, with 303 MW.*
With 119 solar companies operating in the state and notable installations like the Richwoods Renewable Energy Center, Missouri’s five-year growth projection is 647 MW.
Cost of solar in Missouri?
The cost of a home solar system can vary, even in the same state, due to a range of factors. These include:
-
Quality of solar panels
-
Weather
-
Roof size and condition
-
Type of solar equipment
-
Quality of installation
In Missouri, we found that the average investment to own a 5 kW solar system ranges from $13,550 to $16,150, or in other words, from $2.71 to $3.23 per watt—and that’s before considering the benefits of any available tax credits or incentives.
The federal solar tax credit is one of the most reliable incentives for Missouri residents who go solar. The program provides a 26% tax credit against the total cost for a newly installed solar system.*
Missouri has no state tax credit, but solar power improvements are exempt from the property tax.* That means that even though a solar system may increase your home’s value by $15,000 for a 5 kW system (for example), you will not get taxed for the additional value.
Net metering is another way solar owners can gain compensation from their utility company for any excess solar power they generate and send back to the grid. Net metering is available in select locations in Missouri, as provided by the state’s Net Metering and Easy Connection Act.
Some Missouri-based utility companies offer rebates to motivate people into going solar. For example, Ameren Missouri offers customers in St. Louis a 25-cent-per-watt rebate.* Most utility rebates are city- or county-based, but the state offers a solar property tax exemption, so new solar system owners can enjoy an increase in property value without tax increases.*
In fact, solar systems in Missouri can pay for themselves in as little as 13 years. Meaning, homeowners will recoup their investment in 13 years through cumulative savings after installation. After that time, they reap the benefits of free energy whenever solar is powering their home. Plus, if their utility provider embraces net metering, they may actually earn a profit from the excess power they generate and send back to the power grid.
Thirteen years may seem like a long time, but the average warranty for high-efficiency solar panels is 20 to 25 years—not to mention a useful life of 40 years for high quality panels—so property owners can experience a few decades of free solar energy.
Advantages?
These advantages include:
Reduced electricity bills: Solar panels can generate electricity for your home, which can help you reduce your electricity bills. The amount of savings you can expect will vary depending on the size of your solar system, the amount of sunlight your home receives, and your current electricity rates.
Increased home value: Solar panels can increase the value of your home. A study by the National Bureau of Economic Research found that homes with solar panels sell for an average of $15,000 more than homes without solar panels.
Environmental benefits: Solar panels are a clean and renewable source of energy. They do not produce any emissions, which can help to reduce air pollution and greenhouse gas emissions. Solar panels can also help to make Missouri a more sustainable state.
State incentives: Missouri offers a number of incentives for homeowners who install solar panels. These incentives can include tax credits, rebates, and grants.
Disadvantages?
Shade: Solar panels need direct sunlight to generate electricity. If your home is in a shady area, or things are covering your panels you may not be able to generate as much electricity with solar panels.
Weather: Some Solar panels can be damaged by hail, snow, and strong winds. However, our solar panels are designed to withstand these conditions and even extreme weather conditions like hurricanes, tornado, and blizzards.
Panels aesthetic: Our solar panels are different. They are all black, sleek, and thin. They have a more modern look. Some people find solar panels on homes unattractive and if your feel like that we also offer Ground mount installations. It’s a great option if you have open land that receives good sunlight.
Missouri state policies?
Net metering: Missouri has a net metering policy that allows homeowners to sell excess solar power back to the grid at the retail rate. This means that for every kilowatt-hour (kWh) of solar power that you generate and send back to the grid, you will receive a credit on your electricity bill. The amount of credit you receive will depend on your utility company.
Property tax exemption: Missouri exempts homeowners from paying property taxes on the increased value of their home that is due to solar panels. This means that if you install solar panels and your home value increases by $10,000, you will not have to pay property taxes on that $10,000.
SRECs: Missouri offers Solar Renewable Energy Certificates (SRECs) to homeowners who generate solar power. SRECs are tradable certificates that represent 1 megawatt-hour (MWh) of solar generation. Utilities are required to purchase SRECs from solar generators in order to meet their renewable energy goals. The price of SRECs varies depending on the market, but they can provide an additional source of income for homeowners who generate solar power.
Missouri Solar Renewable Portfolio Standard (RPS): Missouri has a solar RPS that requires utilities to generate a certain percentage of their electricity from solar power. The RPS is currently set at 2%, and it is scheduled to increase to 5% by 2025. This policy is expected to help drive demand for solar panels in Missouri.
Maintaining solar panels?
Solar panels are relatively low-maintenance. However, you should have them cleaned every few years to remove dirt, dust, and debris. You can clean your solar panels yourself, or you can hire a professional to do it for you.
What's the best way to go solar?
Are you interested in going solar in Missouri? If so, we can help!
Before going solar, be sure to keep in mind factors that will affect the output of clean energy to your home. For instance, South-facing roofs generate the most energy, followed by west-facing roofs. North-facing roofs generate the least amount of energy. We look into multiple aspects to make sure you have the most effective setup such as roof orientation, roof pitch, shade, and weather.
We offer a free virtual consultation and savings report to help you determine if solar is right for you. We will also help you access solar incentives and rebates to reduce the cost of installation.
Freedom Forever solar panels system is Top-Tier and backed by a 25-year full system production guarantee. We also offer a satisfaction guarantee, so you can be sure that you are making the right decision and test it out stress free.
If you are interested in learning more about solar power in Missouri, please contact us today for a free virtual consultation.
We look forward to helping you make the switch to solar!
Start saving money with solar
Schedule your free virtual appointment & receive your savings report today. We have professional Solar Installers in your area.