Solar Panel Cost Guide in O'Fallon, MO (2023 Update)
- O'Fallon Solar Installation Cost: $13,116
- 25-Year Savings: $16,170
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in O'Fallon
Here's how much it might cost to go solar in O'Fallon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in O'Fallon, the average cost of a solar system is 2.59 per watt. The average solar panel system size in O'Fallon is around 7.2 kilowatts, meaning a cost of about $13,108 for a solar installation, or $18,744 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average O'Fallon homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Even with the large upfront cost, the average O'Fallon homeowner can save around $15,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar company in O'Fallon that can help you get a more accurate cost estimate for your home.
Solar savings over time in O'Fallon
| Year | Return on Investment |
|---|---|
| 1 years | $-11,826 |
| 3 years | $-9,244 |
| 5 years | $-6,663 |
| 7 years | $-4,082 |
| 9 years | $-1,501 |
| 11 years | $1,080 |
| 13 years | $3,661 |
| 15 years | $6,242 |
| 17 years | $8,824 |
| 19 years | $11,405 |
| 21 years | $13,986 |
| 23 years | $16,567 |
| 25 years | $19,148 |
Top Solar Installers in O'Fallon
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar panel installer can make swapping over to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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 O'Fallon
Factors that Affect Solar Panel Costs in O'Fallon
The cost of installing a solar system in O'Fallon can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,590. The type of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many O'Fallon homeowners decide to finance their solar panel systems to make paying for solar more affordable. Though solar loans make switching to solar energy more accessible for O'Fallon homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in O'Fallon, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in O'Fallon have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.69 | $11,313 | $12,975 | 11.6 years |
| 8 kW | $2.64 | $14,794 | $17,591 | 11.4 years |
| 10 kW | $2.59 | $18,130 | $22,351 | 11.2 years |
| 12 kW | $2.54 | $21,321 | $27,256 | 11.0 years |
| 14 kW | $2.49 | $24,367 | $32,307 | 10.7 years |
| 16 kW | $2.43 | $27,268 | $37,502 | 10.5 years |
| 18 kW | $2.38 | $30,023 | $42,842 | 10.3 years |
| 20 kW | $2.33 | $32,634 | $48,328 | 10.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's O'Fallon, MO Solar Cost FAQs
How much does it cost to install solar panels in O'Fallon?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,950 for a 5-kW system and $25,900 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in O'Fallon?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in O'Fallon?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.