Solar Panel Cost Guide in Ofallon, MO (2023 Update)
- Ofallon Solar Installation Cost: $13,108
- 25-Year Savings: $16,178
- Payback Period: 11.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ofallon
We go over average solar pricing in Ofallon.
While the national average of solar panels is $2.66 per watt, solar panels in Ofallon typically cost about 2.59. The average Ofallon homeowner needs a 7.2-kilowatt system, which would cost about $13,108 with the federal tax credit, or $18,744 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Ofallon homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Ofallon can save about $15,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a custom estimate.
Solar savings over time in Ofallon
| Year | Return on Investment |
|---|---|
| 1 years | $-11,937 |
| 3 years | $-9,594 |
| 5 years | $-7,251 |
| 7 years | $-4,908 |
| 9 years | $-2,565 |
| 11 years | $-222 |
| 13 years | $2,121 |
| 15 years | $4,464 |
| 17 years | $6,806 |
| 19 years | $9,149 |
| 21 years | $11,492 |
| 23 years | $13,835 |
| 25 years | $16,178 |
Top Solar Installers in Ofallon
Trying to install solar panels by yourself can be a dangerous task, which is why using a solar installer is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for your home.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Ofallon
Factors that Affect Solar Panel Costs in Ofallon
There are a number of factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use 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 $2,590. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Ofallon, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Ofallon provide solar loans, which reduce the initial cost of installing a solar system. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Ofallon, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Ofallon have more knowledge 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 | $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 type of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Contract: When reading through your solar company'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 part breaking or the company going out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Ofallon, MO Solar Cost FAQs
How much does it cost to install solar panels in Ofallon?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,950 for a 5-kW system and $25,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient 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 less expensive solar panels.
Can you get solar panels for free in Ofallon?
A solar panel system isn't free in Ofallon, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is switching to solar power worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 buy 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.