Top 5 Solar Companies in missouri

Below you’ll find the top solar companies in Missouri as ranked by us and reviewed by verified solar customers. To learn more about what goes into our “Best Rank” score for each company, visit our How We Rank page. For our full Missouri Solar Overview, keep reading:

#1

Palmetto

7.4

Overall
Score

star star star star star_border
201 User Reviews
  • Go Solar for as Low as $79 per Month 
  • 3-Step Solar Process 
  • 25-Year Manufacturer Warranty 

#2

LGCY Power

7.1

Overall
Score

star star star star_half star_border
537 User Reviews
  • Purchase, Loan, and PPA Payment Options
  • Available in 10 States
  • 20-Year Warranty

#3

Helio GreenTech

6.4

Overall
Score

star star star star star
10 User Reviews
  • 25-Year Warranties
  • Buy, Lease, or Loan
  • Founded in 2019

#4

Dividend Solar

6.3

Overall
Score

star star star star star_border
292 User Reviews
  • Specializes in Solar Panel Financing
  • 25-Year Equipment Warranty
  • Exceptional Installation

#5

Green Home Systems

6.1

Overall
Score

star star star star star_border
70 User Reviews
  • Buy and Loan Options Available
  • Available in 50 States
  • 25-Year Warranty

Missouri Solar Overview

With some favorable solar policies and a handful of solar incentives in place, now is the best time for Missouri homeowners to make the switch to solar energy. Residents of the Show-Me State have an abundance of financing options, tax credits, and rebates available to them that will ease the financial burden and make solar power all the more accessible.

Read on to learn more about the ins and outs of going solar in Missouri.

Pros and Cons of Going Solar in Missouri

Here's an at-a-glance description of the current benefits and drawbacks of switching to solar in Missouri:

Benefits of Going Solar in Missouri:

  • Multiple Financing Options
  • Achievable Renewable Portfolio Standard
  • Statewide Net Metering Policy
  • Utility-Backed Solar Rebates
  • Property Tax Exemption
  • Fast Payback Period

Drawbacks of Going Solar in Missouri:

  • No State Tax Credit
  • Low Utility Costs
  • No Sales Tax Exemption
  • Capacity Cap Requirements

Cost of Solar in Missouri

The levelized cost of solar in Missouri, which divides the total costs of a solar panel system by the total output over 25 years, is approximately 5 cents per kilowatt-hour, significantly lower than the 24 cents per kWh utility customers would be paying without solar power. This number may seem small; but considering the average U.S. household users upwards of 9,000 kWh in energy each year, those savings can add up pretty quickly.

A 10 kW solar PV system in Missouri will run around $27,000 upfront. That number is shrunk to just below $19,000 when the 30 percent federal tax credit is applied, and customers can receive up to $5,000 in rebates (depending on their current utility company) for the energy their system produces. 

Missouri Solar Financing Options

Missouri homeowners will be glad to know they can finance their solar panel system — or the power it produces — via a number of payment options: outright purchase, solar loan, solar lease, and power purchase agreement (PPA).

Outright Purchase

Outright purchase is by far the fastest and most profitable means of going solar. Though it requires a substantial investment, it will also produce the most savings over time. Using the example from above, customers will pay about $27,000 for a 10 kW system upfront. Once the federal solar tax credit and relevant solar rebates are applied, they could be paying as low as $15,000. 

Yearly savings will offset the cost of going solar incrementally, and by year 12 of ownership, they will have offset those costs completely. This leaves roughly 13 years of solar panel life for the solar energy system to turn a profit. Assuming about $2,000 is annual energy savings, homeowners who purchase their systems could net around $27,000 after 25 years of system ownership. A solar installation in Missouri can also increase home value by up to $20,000 over the life of the system!

Solar Loan

Besides direct purchase, financing through a solar loan is another viable option that will lead to panel ownership, and therefore qualify borrowers for the federal tax credit and solar rebates. Assuming a 15-year repayment plan and zero money down for a $27,000 loan, customers will start saving on their electricity from day one — netting an impressive $6,000 after just the first year. These savings will, however, deplete over time as loan payments remain pricier than traditional utility payments.

But as utility rates increase, the difference will get smaller, and once the loan is paid off after 15 years, customers will have net a little voer $2,000, leaving the next decade to pure profit. At around $2,000 in annual savings, customers will see between $15,000 and $20,000 in total profit after 25 years.

Solar Lease

Solar leases, though free of the burden of a hefty upfront cost, will also yield fewer financial rewards long-term. They don’t imply ownership, though customers are often given the option to purchase their solar energy system once the 20-lease is complete. Given that lease payments are typically lower than the average utility bill, customers could save as much as $3,000 after 20 years.

PPA

The power purchase agreement is a contract in which customers pay for the solar energy the system produces and not the system itself. In Missouri, a PPA doesn’t save homeowners much money right away, maybe just a few hundred dollars after the first year. But as energy rates continue to rise, the savings of utilizing a PPA will translate to just over $11,000 after 25 years.

Missouri Solar Incentives

Missouri has a handful of solar incentives designed to further reduce the cost of going solar in the state. While the state does not offer a sales tax exemption on solar installation project, or a special program for low-income families in need of affordable energy, it does provide the following:

Solar Rebate Programs

A number of the state’s utility providers do offer homeowners rebates on the energy their solar PV systems produce. Qualifying systems (e.g. systems installed prior to 2023, or that meet warranty requirements) are entitled to the following rebate schedules:

  • Ameren — $250 per kW
  • Columbia Water & Light — $500 per kW up to $5,000
  • Empire District Electric — $250 per kW
  • Kansas City Power & Light — $500 per kW

Property Tax Exemption

Although the state does not provide a tax credit to solar power owners, it will also not tax them on the increase in home value their solar panel systems elicit. Considering that home value can increase by upwards of $20,000 after 25 years, this exemption represents hundreds, if not thousands of dollars in savings.

Missouri Solar Policy Information

Missouri is certainly not a leader in terms of solar policy; that said, it does enforce a few important solar-friendly policies to aid in solar adoption throughout the state:

Renewable Portfolio Standard

A state’s renewable portfolio standard (RPS) represents a goal to attribute a set percentage of total energy output to renewable sources by an agreed upon date. This mandate applies to utility companies, and stiff penalties can follow if power providers fail to meet this standard.

In Missouri, the RPs is 15 percent by 2021, with solar energy accounting for 0.3 percent within that same timeframe. Although this standard is somewhat flimsy compared with top solar-producing states like California, states that demand 30, 40, or even 100 percent renewable energy, it’s certainly a start.

Some good news in this category: as of 2020, solar power in Missouri currently contributes 0.62 percent to the state’s current energy portfolio.

Statewide Net Metering

Net metering is a state-backed policy that requires utility companies to credit solar users for the surplus energy their systems produce. In some states, utility providers are given some flexibility as to the timing or refund percentage of these credits.

In Missouri, utility providers are required to credit solar users 100 percent for their energy surplus each month; however, the state has set a cap at systems with a capacity at less than 100 kW, meaning commercial solar farms would likely not qualify for the state’s net metering policy.

Missouri Solar Statistics

Since 2012, Missouri has demonstrated a fairly even balance among residential, commercial, and utility solar projects, and the state as a whole has witnessed a steady increase in residential solar installations ever since. As of 2020, the state has installed more than 270 megawatts of clean energy using solar panels and ranks 32nd in the nation for solar investment and output. The state currently hosts 109 solar companies and manufacturers employing more than 2,500 people. These companies have installed enough power to bring renewable energy to more than 30,000 homes.

Interested in a solar quote? Check out the top-ranked solar companies in Missouri and read reviews from verified solar customers.

Sources

  • solarpowerrocks.com/missouri/
  • solarreviews.com/solar-panels/missouri
  • seia.org/state-solar-policy/missouri-solar
  • solar-nation.org/missouri
  • solaractionalliance.org/solar-panel-installation/missouri/

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