Solar Panel Cost Guide in Oakville, MO (2024 Update)
- Oakville Solar Installation Cost: $17,060
- 25-Year Savings: $18,719
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Oakville
Find out what the average cost of a solar system is in Oakville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oakville, the average cost of solar panels is 3 per watt.The average Oakville homeowner needs a 7.2-kilowatt system, which would cost about $17,060 with the federal tax credit, or $24,396 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in Oakville can save around $17,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar company in Oakville for a quote for your home.
Solar savings over time in Oakville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,769 |
| 3 years | $-13,188 |
| 5 years | $-10,607 |
| 7 years | $-8,026 |
| 9 years | $-5,445 |
| 11 years | $-2,864 |
| 13 years | $-283 |
| 15 years | $2,298 |
| 17 years | $4,880 |
| 19 years | $7,461 |
| 21 years | $10,042 |
| 23 years | $12,623 |
| 25 years | $15,204 |
Top Solar Installers in Oakville
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make converting to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy consumption, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to make the switch to solar but still aren’t sure which solar system company to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Oakville
Factors that Affect Solar Panel Costs in Oakville
Although the average cost of a solar system in Oakville is $17,060, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,370.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Oakville average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can affect how much you pay. Oakville’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $11,688 | 13.9 years |
| 8 kW | $3.44 | $19,249 | $15,962 | 13.7 years |
| 10 kW | $3.37 | $23,590 | $20,424 | 13.4 years |
| 12 kW | $3.30 | $27,742 | $25,075 | 13.1 years |
| 14 kW | $3.24 | $31,705 | $29,915 | 12.9 years |
| 16 kW | $3.17 | $35,479 | $34,943 | 12.6 years |
| 18 kW | $3.10 | $39,065 | $40,160 | 12.3 years |
| 20 kW | $3.03 | $42,462 | $45,566 | 12.1 years |
How to Save on Solar Panels
There are a large number of companies available in Oakville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Oakville, MO Solar Cost FAQs
What is the average cost of installing solar panels in Oakville?
The average cost of solar panels in Oakville is about $16,850 for a 5-kW system and $33,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Oakville?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Oakville?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.