You have done your research and know that going solar is a great way to save money and to help the environment, but what is it like going solar in Missouri? The Show Me State has been working its way up the national rankings for going solar and is currently ranked 28th. There are 16,779 homes in Missouri that are powered by solar and 2,380 jobs in the solar industry in the state. Solar is spreading fast here as homeowners learn about how solar can save them money. Here are some facts for you to consider as you look into going solar in Missouri.
Sunshine in the Show Me State
Missouri receives 2,690 hours of sunshine a year. This is a lot of hours that your solar panels can be producing energy. From sunrise to sunset, your rooftop panels would receive about 60% of sunlight throughout the day. Compared to the other states in the nation, that is a little more than the average percent of sunlight received in a day. It is time for homeowners to take advantage of all that sunshine and use it to produce energy! This large amount of sunlight that your solar panels can receive makes Missouri an ideal state to go solar.
The price to going solar has been dropping around the world as technology has developed making solar panels more effective and less expensive. In Missouri, the price for going solar has gone down 55% in the last five years! This is great news for homeowners who are looking to get solar panels. As the prices have dropped, more financial opportunities have become available to help everyone afford solar.
Shine Solar homeowners can receive a loan with $0 down and you don’t have to start paying back your loan for the first 12-18 months! Even better, here in Missouri, there are some banks that don’t require a credit score to receive a solar loan. This makes going solar possible for just about everyone in the state.
A benefit that all homeowners who go solar receive right now is the 30% Federal tax credit. Through this Federal credit you can receive a tax credit that is equal to approximately 30% of your total solar investment. You can then put that extra money toward your solar loan to help pay that off sooner. However, there is more legislation here in Missouri that promotes the use of solar energy. Missouri’s RPS (Renewables Portfolio Standard) requires that 15% of all the power used in the state must be created by renewable sources by 2021. To further encourage utility companies to work with solar homeowners, the state also says, of that 15% that 0.3% of that energy must come from solar by 2021. That may seem like a small number, but any laws encouraging the use of solar is a step in the right direction. On top of that, Missouri also offers net metering, where utility companies track how much energy you produce and how much of that you actually use. Your utility company will then give you credit on next month’s bill for the excess energy that you send back. You can learn more about net metering by reading here.
Shine Solar currently has an office in Springfield, Missouri and an office in Kansas City, MO. We see the huge potential for solar here in the state. If you would like to learn more about going solar in the Show Me State then contact us here.
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