Benefits of Solar Energy
Solar energy offers several advantages that will enhance your home for years to come.
- Lowered energy bills: You can skip 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.
- Reduced carbon footprint: Adopting solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery backup or storage system lets you have reliable energy during grid outages and storms.
What Solar Incentives Are Available to Lee's Summit Homeowners?
Missouri agencies and electric companies offer a variety of solar incentives to help minimize your solar system costs. Check out a breakdown of available solar programs where you live.
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 Lee's Summit
Choosing a company is the first step toward an effective and cost-efficient solar system. Here are some crucial criteria to remember while searching for a solar installer.
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. You should also visit a company's website to learn about its private certifications. Two of the most recognized are the PV Installation Professional and Solar Heating Installer certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Lee's Summit
The style of solar panels you choose dictates how much energy you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
If you want to charge an electric car or use your solar power in inclement weather, you can pay extra for add-ons. By selecting the right components, you can make your system more effective and user-friendly. Not all solar providers offer these additional features, so look for a provider that sells them if it's important for you.
A majority of Lee's Summit homeowners select solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $16,850 to set up, considering both parts and installation. You can find more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,139 |
| Solar Polycrystalline | $888 |
| Thin-Film | $519 |
| Solar Battery | $729 |
| Solar Home EV Charger | $2,733 |
Financing Solar Energy in Lee's Summit
Choosing the correct financing plan will impact your overall solar system cost and potential savings. Common payment options include leases, power purchase agreements, cash payments, and loans. Though it involves a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the runner-up option. As with a car loan or mortgage, 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) allows you to pay a monthly rate based only on the energy you use, akin to an electric bill. We generally don’t recommend these two options because you won't own the system and cannot use solar incentives. Ask each company you're considering about the payment plans it offers. A staff member can help you determine the best option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Lee's Summit.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own financing plans and rebates that could reduce your total cost even more.
| 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 Lee's Summit
How much energy and money could I save per year by switching to solar?
Is solar energy easily accessible in Lee's Summit?
Will solar energy systems improve my Lee's Summit home value?
What if I live in a dark or gloomy
What's a Lee's Summit solar panel's average lifespan?
What's the average solar system size in Lee's Summit?
How does "net metering" work, and do I need to participate?
Some states or power companies oblige you to participate in net metering when installing your solar system, while others give you a choice. Either way, once you participate, you'll receive a bill credit or check for your excess generation at a wholesale or retail rate.
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you do not own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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