How to Use the Solar Calculator
The best way to learn about local rebates, your home’s energy potential, and your eventual return on investment is to use our ModSun Solar Cost Calculator (see above). Enter your home address in the box, then click Check My Roof. You’ll get an instant picture of your roof’s productivity, your average energy expenses, and installation costs in your area—whether you decide to buy or loan. We’ll also provide system size recommendations and information about rebates and incentives you may be eligible for. Just select More Info under each purchasing strategy to learn more, and then connect with a solar pro.
Solar Power in St. Louis, MO
Missouri has a Renewable Portfolio Standard (RPS) that requires 15 percent of the state’s energy to come from renewable resources by 2021. It also mandates that a minimum of 2 percent of that goal come from solar power. This RPS is good news for St. Louis residents looking to adopt solar. It motivates the state and local utilities to offer generous financial incentives for homeowners to invest in residential solar power systems in order to meet the goal.
Missouri is well on it’s way to becoming a leader in solar technology. The state has 131 MW of solar energy currently installed (20 MW in just this past year), making Missouri 19th in the nation in terms of installed solar capacity. There is currently enough solar capacity in Missouri to power 14,000 homes. Additionally, in 2015 the state invested $50 million in solar installations. This investment is doing more than increasing the state’s solar capacity, it’s also growing a new industry. There are currently 114 solar companies working in the state employing 1,900 people.
So with plenty of knowledgeable solar installers, financial incentives to make your solar installation budget friendly and 202 sunny days a year to help shrink your monthly utility bill– what are you waiting for?
What Financial Incentives are Available for Solar in St. Louis?
The Federal Government offers a 30 percent tax credit to homeowners who install a solar (photovoltaic or solar heater) power system to their home. There is no dollar limit on the credit–aside from the cost of the system. The credit is applied against any tax liability. If the credit exceeds your liability for the tax year in which the solar power system is installed, it may be carried over to the next year. In addition to the federal tax credit, the state of Missouri offers the following incentives for residential solar adopters:
Tax Deduction for Home Energy Audits and Energy Efficiency Improvements: Homeowners may take an income tax deduction for the cost of home energy audits and associated energy efficiency improvements. Any deduction must be claimed for the tax year in which the qualified home energy audit was conducted or in which the implementation of the recommended energy efficiency improvements occurred. The deduction claimed cannot exceed $1,000 per year for individual taxpayers or exceed $2,000 per year for taxpayers filing combined returns. Note: The taxpayer may not take a deduction for work that received any type of incentive or rebate through the state or through a utility-sponsored program. This deduction is currently set to expire on December 31, 2020.
The home energy audit must be performed by an auditor certified by the Missouri Department of Natural Resources before any efficiency improvements are performed in order for the improvements to be eligible for the tax deduction. Use Form MO-HEA to claim the deduction.
Net Metering: In Missouri all electric utilities—investor-owned utilities, municipal utilities, and electric cooperatives—are required to offer net metering to customers with systems up to 100 kilowatts (kW) in capacity that generate electricity using solar-thermal or photovoltaics (PV). The systems must be intended primarily to offset part or all of a customer’s own electricity requirements. Additionally, they must be located on the premises owned, operated, leased or otherwise controlled by the customer. Customer net excess generation (NEG) during a billing period is credited to the customer’s next bill at a rate at least equivalent the utility’s avoided cost rate. Credits expire 12 months after issuance without compensation.
Note: If your existing metering equipment is not capable of measuring the net amount of electricity produced or consumed, or if it is necessary for the utility to install “additional distribution equipment to accommodate the customer-generator’s facility,” then you as the homeowner must pay for these costs.
AmerenUE Photovoltaic Rebate Program: AmerenUE offers a rebate program for using photovoltaic energy. If you have a solar energy system generating less than 100 kW, you can receive $2.00 for each watt of direct current your system generates for rebates of up to $50,000 per year. This program is open to any AmerenUE customer in good standing with the company. Your solar energy system must consist of new equipment permanently installed on your property, and the equipment must have been put in after Jan. 1, 2010. Your module and inverter components must have warranties of at least 10 years and all equipment must conform to federal, state, and local guidelines, as well as being certified of being operated for at least 10 years.
Unlike some of Missouri’s net metering programs, you retain all solar renewable energy certificates generated under this program. Note: At this time, Ameren Missouri’s solar rebate program is fully subscribed to the $91.9M funding level. Ameren Missouri does not anticipate making any additional funding available although solar rebate payments will not be suspended until the funding level has been fully paid.