Benefits of Solar Energy
Solar energy offers multiple advantages. Here are some highlights.
- Lower utility costs: Producing some or all of your own power will save you money on your electric bills long-term. Plus, some states offer net metering programs that allow you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during storms and grid outages.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
What Solar Incentives Are Available to St. Peters Homeowners?
Governments and power companies often incentivize homeowners for switching to solar. Here are some of the tax credits, rebates, 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: 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 St. Peters
The more thorough your company investigation is, the better your photovoltaic system will ultimately work. 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. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the Solar Heating Installer and PV Installation Professional certificates, awarded 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 St. Peters
Your photovoltaic panels' type will influence how much electricity you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies provide these optional components, so look for a provider 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 St. Peters. Use the table in this section to get an idea of what amount St. Peters solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,141 |
| Solar Polycrystalline | $890 |
| Thin-Film | $520 |
| Solar Battery | $731 |
| Solar Home EV Charger | $2,739 |
Financing Solar Energy in St. Peters
There are many ways to pay for a new solar system, and the right one will lower your costs. A few of the most common options include loans, cash payments, power purchase agreements (PPAs), and leases. Though it requires a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective 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) lets you 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 solar system and are disqualified from using solar incentives. Look for companies that offer two or more payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in St. Peters.
The IRS allows you to claim a 26% federal tax credit for solar panels on total system costs, so long as you purchase it before 2032. City and state governments and utilities might also offer their own rebates, financing programs, and incentives 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 St. Peters
How much money could I save by going solar in St. Peters?
Is solar energy widely available in St. Peters?
Should I anticipate a boost in my property value after going solar?
Could I still use solar power if I live in a rainy, dark, or wooded area?
Is installing solar panels a fast job?
What size should my new St. Peters solar system be?
What is "net metering," and how does it work?
Some states or power companies oblige you to enroll in net metering when purchasing 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 retail or wholesale rate.
What's the difference between a PPA and traditional financing?
You might look into a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other financing options above.
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