Benefits of Solar Energy
Solar energy offers multiple advantages that will enhance your home for years to come.
- Lowered energy bills: You can dodge the expensive cost of grid-tied power by creating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Photovoltaic solar panel systems with battery backups and storage systems work through power outages and emergencies, and you won't have to rely on your power company for your safety and comfort.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can reduce or eliminate your home's dependence on "traditional" sources.
What Solar Incentives Are Available to Joplin Homeowners?
Governments and power companies often reward homeowners for switching to solar. Here are some of the rebates, tax credits or other programs you could qualify for.
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: 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 Joplin
The price and effectiveness of solar panels often depend on the solar company that mounted them. Consider each of these aspects in your business search.
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), one of the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Joplin
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors include these add-ons, so look for a provider that sells them if it's essential for you.
If you're a resident of Joplin and are looking into a five-kilowatt solar energy system, you could plan to spend about $16,850 for materials and labor. Find more information on specific component and solar panel costs in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $996 |
| Solar Polycrystalline | $777 |
| Thin-Film | $454 |
| Solar Battery | $637 |
| Solar Home EV Charger | $2,390 |
Financing Solar Energy in Joplin
Solar providers use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar leases, solar loans, cash payments and power purchase agreements (PPAs). Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a home or auto loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to rent your panels for a set monthly rate, while PPAs let you pay only for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for providers that offer two or more payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in Joplin.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Further incentives may be available through local governments, usually in the form of rebates and special financing programs.
| 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 Joplin
How much money could I save by going solar in Joplin?
How common is solar energy in Joplin?
Will solar energy systems boost my Joplin home price?
Is installing solar panels a fast job?
What's the average solar system size in Joplin?
What is the average payback period for Joplin solar panels?
What is "net metering," and how does it work?
Some states or energy providers require you to participate in net metering when installing your solar system, while others give you a choice. Either way, once you join, you'll receive a check or bill credit for your excess generation at a wholesale or retail rate.
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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