Solar Panel Cost Guide in Olivette, MO (2024 Update)
- Olivette 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 Olivette
We break down average solar pricing in Olivette.
The average cost of a solar system in Olivette is 3 per watt.To account for the typical energy needs of the average home in Olivette, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,060, or $24,396 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with.Despite the significant initial cost, the average Olivette homeowner can save about $17,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar panel company in your area for a personalized estimate.
Solar savings over time in Olivette
| 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 Olivette
Although it's possible to install solar panels on your own, it involves extra energy and knowledge. Because of that, most homeowners choose to go with a solar panel installer. The expertise that solar companies provide can be invaluable as well, particularly if you aren’t sure what type of solar equipment you need.
If you’d like to switch to solar energy but still aren’t sure which solar system company to go with, here are our suggestions for providers in Olivette:
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 Olivette
Factors that Affect Solar Panel Costs in Olivette
The cost of installing a solar system in Olivette can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
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 largely based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $3,370 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Olivette offer solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of loans, 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 principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Olivette, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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
The solar panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should choose, since different companies have access to different panels.
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 Olivette, MO Solar Cost FAQs
How much does it cost to install solar panels in Olivette?
This is a hard question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. 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 Olivette?
A solar panel system isn’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 you can take advantage of.
How will having solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Olivette is currently $446,971, so you could be looking at a value of about $18,326 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Olivette is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.