Benefits of Solar Energy
Solar energy comes with multiple advantages. Here are some highlights.
- Lower utility costs: Generating some or all of your own energy will cut power costs long-term. Plus, some states offer net metering programs that enable you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can lower or beat your home's dependence on fossil fuels.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems operate through blackouts and emergencies, and you won't have to depend on your power company for your safety and well-being.
What Solar Incentives Are Available to Chesterfield Homeowners?
Missouri homeowners who go solar could qualify for special financing, reimbursements, tax credits and rebates. Here are just a few of the region's incentive offerings.
Incentive Type: Rebate Program
Website: powermoves.comIncentive Amount:
Dual Fuel Heat Pump: $500
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250 - $750
Geothermal Heat Pump: $1,500
Heat Pump Water Heater: $400/unit
HVAC: Varies depending on ZIP code. See program website
Incentive Type: Rebate Program
Website: central.libertyutilities.comIncentive Amount:
$0.25 per watt for systems operational between July 1, 2019, and December 31, 2023
Incentive Type: Property Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Rebate Program
Website: ameren.comIncentive Amount:
Air-Source Heat Pump: $500-$900
Ductless Air-Source Heat Pump: $300-$500
Dual Fuel Heat Pump: $175-$200
Ground Source Heat Pump: $800-$2,000
Central Air Conditioner: $300-$500
Electronically Commutated Motor (ECM): $50-$100
Air Conditioner/Heat Pump Tune-Up: $75
Incentive Type: PACE Financing
Incentive Amount:
Financing contracts limited to 20 years or less; improvements must display a positive economic benefit over the life of the contract.
Incentive Type: Rebate Program
Website: cuivre.comIncentive Amount:
Water Heater: $50
Ground-Source Heat Pumps: $750/ton
Ground-Source Heat Pump Replacement: $150/ton
Dual Fuel Heat Pumps: $150/ton
Basement/Crawl space/slab insulation: 50% of installed cost
Advanced Thermostat: 50% of installed cost
Heat Pump Water Heater: 50% of installed cost
Window Air Conditioning: 50% of installed cost
Business Lighting Rebate: Varies, visit program website or contact utility for details
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Chesterfield
The more comprehensive your provider search is, the better your solar panels will ultimately perform. Make your choice based on the following important considerations.
Licensing and Training
In Missouri, it's the responsibility of counties and cities issue contracting licenses. However, all contractors must register with the Missouri Secretary of State. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Chesterfield
The style of solar panels you purchase decides how much power you can generate. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor offers these optional components, so look for a company that installs them if it's essential for you.
You can plan to spend about $16,850 on average for a five-kilowatt solar energy system in Chesterfield. Check the table in this section to get an idea of what amount Chesterfield solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,164 |
| Solar Polycrystalline | $908 |
| Thin-Film | $531 |
| Solar Battery | $745 |
| Solar Home EV Charger | $2,793 |
Financing Solar Energy in Chesterfield
Choosing the correct financing solution will impact your overall solar system cost and possible savings. Common payment options include cash payments, leases, power purchase agreements, and loans. Though it requires a large up-front payment, cash is the most affordable choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, similar to an electric bill. We usually don’t recommend these two choices because you won't own the panels and cannot use solar incentives. Ask each installer you're evaluating about the payment plans it offers. A consultant can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Chesterfield.
The IRS allows you to claim a 26% federal tax credit for solar panels on your new solar panels, so long as you purchase it before 2032. City and state governments and utilities might also offer their own rebates, incentives, and financing programs that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.3 years |
| 2 kW | 4.5 years |
| 5 kW | 11.3 years |
| 10 kW | 22.7 years |
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Frequently Asked Questions About Solar in Chesterfield
How much money could I save by going solar in Chesterfield?
How prevalent is solar energy in Chesterfield?
Should I expect a boost in my property value after switching to solar energy?
How many years does an average solar system last?
How long does the photovoltaic installation process require?
How long does it take to pay back a solar loan in Chesterfield?
How can I boost my solar panels' performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
How many estimates should I get before making a final solar company decision?
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