Is Solar Power Worth It in Missouri?
It’s a common misconception that solar panels are only for states that enjoy year-round sunshine and warm weather. While it’s true Florida and California lead the country in solar energy generation, it’s important to understand that solar panels don’t rely on heat. Instead, they rely on sunlight, something that’s present on most days in Missouri, even when the temperatures dip below freezing.
If you’re just starting to research whether investing in solar panels is a good decision for your Missouri home, this post sheds light on the practicalities, incentives, and financial advantages solar panels offer in the Show-Me State.
Solar’s Potential in Missouri
Missouri experiences an average of 210 days of sunshine each year, which is good news for solar panel owners. However, due to advanced technologies and increased efficiency, modern solar panels can now generate electricity on overcast days.
Another fact you might not know is that solar panels tend to work more efficiently in cooler or moderate climates. That’s because higher temperatures can increase the risk of the panels overheating, which can degrade their ability to generate electricity.
The most important thing to remember about whether solar panels will generate enough electricity to power your home is if they will be exposed to sunlight throughout the year, not just on a given day.
State and Federal Incentives: Putting Money Back in Your Pocket
One of the most significant advantages of investing in solar panels is the potential for financial incentives. Both the state of Missouri and the federal government offer generous incentives that can considerably reduce your initial investment and make installing solar panels more affordable.
For instance, Missouri has a property exemption for renewable energy systems, meaning when you increase your home’s value by adding solar panels, you won’t be hit with additional property taxes. Several of the state’s local utilities also provide rebates for solar installations. Solar power customers are also exempt from the state’s sales tax. And they can take advantage of net metering, where they receive credit for sending excess energy into the power grid.
On the federal side, the Investment Tax Credit (ITC) provides a deduction on your federal tax return equaling 30% of your solar panel installation costs. Available until 2032, the ITC is the largest solar incentive in Missouri.
Long-Term Savings: The Financial Benefits of Going Solar in Missouri
Many homeowners say the upfront cost of solar panel installation is the main deterrent to them making the investment. However, when you look closely at the long-term benefits, the numbers tell an encouraging story.
• As the cost of electricity rises from year to year, a solar energy system locks in your energy rate, ensuring you’re not affected by unpredictable price increases.
• When your solar panels reach the point where they’ve paid for themselves, about eight years on average, you’re essentially generating free electricity for your home.
• Solar panels also typically increase your property value by 4% or more. Should you decide to sell, potential buyers will likely appreciate owning a home with a low or non-existent electricity bill.
Solar Solutions From Solera Energy
Thanks to significant savings, investing in solar panels is usually worth it in Missouri, with potential savings of between 40% and 60% compared to traditional electricity expenses. If you’re still on the fence about solar panels or if you’d like to hear more about the advantages of making the switch, the skilled team at Solera Energy is here to answer your questions and address your concerns. As the region’s leading solar providers, you can rely on us to provide tailored recommendations and expert guidance to ensure you make the most informed decision for your home’s energy needs.