Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Lower energy bills: Generating some or all of your own power will cut power costs long-term.
- Better energy independence: Adding a battery backup lets you have reliable energy during storms and grid outages.
- Reduced carbon footprint: Utilizing solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Joplin Homeowners?
Governments and power companies often incentivize homeowners for adopting solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Rebate ProgramWebsite: powermoves.com
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 ProgramWebsite: central.libertyutilities.com
$0.25 per watt for systems operational between July 1, 2019, and December 31, 2023
Incentive Type: Property Tax Incentive
Incentive Type: Rebate ProgramWebsite: ameren.com
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
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 CreditWebsite: ecowatch.com
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 efficacy of solar panels often depend on which company mounted them. Here are some important factors to bear in mind while searching for a solar provider.
Licensing and Training
In Missouri, cities and counties have the right to issue contracting licenses. However, all contractors must register with the Missouri Secretary of State. Solar installers can also earn certificates from standards organizations and trade groups. The top ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
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. 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.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total project price, but they can enhance your solar system's performance. Not all solar providers provide these add-ons, so look for a company that sells 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 Joplin. Use the table in this section to get an idea of the amount Joplin solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Joplin
Solar companies use multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are cash payments, solar leases, solar loans and power purchase agreements (PPAs). Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a home or auto 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 allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. Ask each company you're considering about the financing options it offers. A representative can help you determine the most suitable option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Joplin.
You are eligible for a 26% federal tax credit for new solar energy equipment until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and unique financing solutions that could save you more.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Joplin
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Joplin?
Should I anticipate a boost in my property value after installing solar panels?
How long does the solar installation process take?
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 power companies require you to enroll in net metering when installing your solar system, while others give you a choice. Either way, once you sign up, you'll receive a bill credit or check for your excess generation at a wholesale or retail rate.
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