Solar Panel Cost Guide in Park Hills, MO (Mar 2023)
- Park Hills Solar Installation Cost: $13,035
- 25-Year Savings: $19,418
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Park Hills
Let's take a look at the average cost of solar panels in Park Hills.
The national average cost of solar panels is $2.66 per watt, but in Park Hills it's 2.59 per watt. The average solar panel system size in Park Hills is around 7.2 kilowatts, meaning a cost of about $13,035 for a solar installation, or $18,640 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Park Hills based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar panels is worth paying. On average Park Hills homeowners see about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a customized quote.
Solar savings over time in Park Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-11,737 |
| 3 years | $-9,141 |
| 5 years | $-6,545 |
| 7 years | $-3,948 |
| 9 years | $-1,352 |
| 11 years | $1,244 |
| 13 years | $3,840 |
| 15 years | $6,437 |
| 17 years | $9,033 |
| 19 years | $11,629 |
| 21 years | $14,226 |
| 23 years | $16,822 |
| 25 years | $19,418 |
Top Solar Installers in Park Hills
Although it's possible to install solar panels on your own, it involves extra time and expertise. That's why most people choose to go with a solar panel installer. In addition, if you'd like to maximize your investment in solar, using a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Park Hills
Factors that Affect Solar Panel Costs in Park Hills
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Park Hills: 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
The cost of solar panels 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 with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,590. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Park Hills average.
Solar Financing Terms
Most solar installers in Park Hills offer solar loans, which reduce your upfront costs of installing solar. Even though solar loans make adopting solar energy more accessible for Park Hills 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 make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Park Hills is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $15,781 | 10.4 years |
| 8 kW | $2.64 | $14,794 | $21,331 | 10.2 years |
| 10 kW | $2.59 | $18,130 | $27,026 | 10.0 years |
| 12 kW | $2.54 | $21,321 | $32,867 | 9.8 years |
| 14 kW | $2.49 | $24,367 | $38,852 | 9.6 years |
| 16 kW | $2.43 | $27,268 | $44,983 | 9.4 years |
| 18 kW | $2.38 | $30,023 | $51,258 | 9.2 years |
| 20 kW | $2.33 | $32,634 | $57,679 | 9.0 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
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 Park Hills, MO Solar Cost FAQs
How much does it cost to install solar panels in Park Hills?
The average cost of solar panels in Park Hills is about $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Park Hills?
A solar panel system isn't free in Park Hills, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Park Hills?
Most 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 long do solar panels last in Park Hills?
On average, the lifespan of solar panels is 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 higher 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.