What is the payback period for a solar panel installation?

What is the payback period for a solar panel installation?

The payback period for a solar panel installation in Missouri can vary based on several factors, including your system’s size, location, energy consumption, and available incentives. On average, homeowners in Missouri can expect a payback period of around 6 to 9 years for a residential solar panel system. After this period, your system has essentially paid for itself through energy savings and incentives, and you’ll continue to enjoy free or significantly reduced electricity bills for decades. Keep in mind that the federal solar investment tax credit (ITC), which offers a substantial upfront savings, plays a significant role in shortening the payback period.