Solar Panel Cost Guide in Olivette, MO (2023 Update)
- Olivette Solar Installation Cost: $13,108
- 25-Year Savings: $18,723
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Olivette
Let's have a look at the average cost of solar panels in Olivette.
The national average cost of solar panels is $2.66 per watt, but in Olivette it's 2.59 per watt. Because a 7.2-kW system is needed to cover the energy costs of a typical home in Olivette, the average price of going solar will be about $13,108 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more. With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Olivette find going solar can be quite rewarding.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Olivette
| Year | Return on Investment |
|---|---|
| 1 years | $-11,835 |
| 3 years | $-9,288 |
| 5 years | $-6,742 |
| 7 years | $-4,195 |
| 9 years | $-1,649 |
| 11 years | $898 |
| 13 years | $3,444 |
| 15 years | $5,990 |
| 17 years | $8,537 |
| 19 years | $11,083 |
| 21 years | $13,630 |
| 23 years | $16,176 |
| 25 years | $18,723 |
Top Solar Installers in Olivette
Trying to put up solar panels on your own can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you're unsure what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Olivette
Factors that Affect Solar Panel Costs in Olivette
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Olivette: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Olivette, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,590 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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
Most solar companies in Olivette offer solar loans, which reduce the initial cost of installing a solar system. Though solar loans make switching to solar energy more accessible for Olivette homeowners, they can also raise 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Olivette, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $15,095 | 10.7 years |
| 8 kW | $2.64 | $14,794 | $20,417 | 10.5 years |
| 10 kW | $2.59 | $18,130 | $25,884 | 10.3 years |
| 12 kW | $2.54 | $21,321 | $31,496 | 10.1 years |
| 14 kW | $2.49 | $24,367 | $37,253 | 9.9 years |
| 16 kW | $2.43 | $27,268 | $43,155 | 9.7 years |
| 18 kW | $2.38 | $30,023 | $49,202 | 9.5 years |
| 20 kW | $2.33 | $32,634 | $55,394 | 9.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Olivette, MO Solar Cost FAQs
How much does it cost to install solar panels in Olivette?
This is a tough question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Olivette?
Solar panels aren't free in Olivette, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Olivette is currently $301,000, so you can expect a value of about $12,341 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Olivette is a rewarding investment.
How often do you have to replace solar panels?
On average, solar panels can last 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 larger level 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.