Solar Panel Cost Guide in Oak Grove, MO (2024 Update)
- Oak Grove Solar Installation Cost: $17,091
- 25-Year Savings: $18,602
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Oak Grove
Let’s take a look at the average cost of solar panels in Oak Grove.
In Oak Grove, solar panels cost about 3 per watt on average.To cover the typical energy needs of the average home in Oak Grove, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,091, or $24,440 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.Even with the significant initial cost, the average Oak Grove homeowner can save around $17,000 on their power bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a top solar installer in Oak Grove that can help you get a more accurate cost estimate for your home.
Solar savings over time in Oak Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-15,683 |
| 3 years | $-12,867 |
| 5 years | $-10,051 |
| 7 years | $-7,235 |
| 9 years | $-4,419 |
| 11 years | $-1,603 |
| 13 years | $1,213 |
| 15 years | $4,029 |
| 17 years | $6,845 |
| 19 years | $9,661 |
| 21 years | $12,477 |
| 23 years | $15,293 |
| 25 years | $18,109 |
Top Solar Installers in Oak Grove
Installing solar panels by yourself can be a stressful project, which is why using a solar installation company is a good option for many homeowners. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Oak Grove
Factors that Affect Solar Panel Costs in Oak Grove
For many Oak Grove homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Oak Grove, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Oak Grove, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Oak Grove know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.50 | $14,720 | $11,563 | 14.0 years |
| 8 kW | $3.44 | $19,249 | $15,794 | 13.7 years |
| 10 kW | $3.37 | $23,590 | $20,215 | 13.5 years |
| 12 kW | $3.30 | $27,742 | $24,824 | 13.2 years |
| 14 kW | $3.24 | $31,705 | $29,622 | 12.9 years |
| 16 kW | $3.17 | $35,479 | $34,608 | 12.7 years |
| 18 kW | $3.10 | $39,065 | $39,784 | 12.4 years |
| 20 kW | $3.03 | $42,462 | $45,148 | 12.1 years |
How to Save on Solar Panels
There are numerous companies available in Oak Grove, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Oak Grove, MO Solar Cost FAQs
How much does it cost to install solar panels in Oak Grove?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $16,850 for a 5-kW system and $33,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Oak Grove?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Oak Grove?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.