Solar Panel Cost Guide in Park Hills, MO (2024 Update)
- Park Hills Solar Installation Cost: $16,954
- 25-Year Savings: $19,424
- Payback Period: 13.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Park Hills
Find out what the average cost of solar panel installation is in Park Hills.
The national average cost of solar panels is $2.66 per watt, but in Park Hills it’s 3 per watt.Since a 7.2-kW system is needed to cover the energy costs of a typical home in Park Hills, the average price of going solar will be about $16,954 after claiming the federal solar tax credit of 0.
These figures are just averages, and the cost of going solar for you will vary based on the amount of energy your home requires and what company you choose to go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a customized quote.
Solar savings over time in Park Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-15,663 |
| 3 years | $-13,082 |
| 5 years | $-10,501 |
| 7 years | $-7,920 |
| 9 years | $-5,339 |
| 11 years | $-2,758 |
| 13 years | $-177 |
| 15 years | $2,405 |
| 17 years | $4,986 |
| 19 years | $7,567 |
| 21 years | $10,148 |
| 23 years | $12,729 |
| 25 years | $15,310 |
Top Solar Installers in Park Hills
Trying to install solar panels by yourself can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar company too, which can save you more money over time.
If you're looking for a solar installer in Park Hills, we've put together a list of our top suggestions here:
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 Park Hills
Factors that Affect Solar Panel Costs in Park Hills
Though the average cost of a solar system in Park Hills is $16,954, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require 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 $3,370.The kind 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, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Park Hills average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Park Hills, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect your pricing. Park Hills’s solar companies all have different labor costs and add varying upcharges to 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 specials 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 | $3.50 | $14,720 | $12,374 | 13.6 years |
| 8 kW | $3.44 | $19,249 | $16,876 | 13.3 years |
| 10 kW | $3.37 | $23,590 | $21,566 | 13.1 years |
| 12 kW | $3.30 | $27,742 | $26,446 | 12.8 years |
| 14 kW | $3.24 | $31,705 | $31,514 | 12.5 years |
| 16 kW | $3.17 | $35,479 | $36,771 | 12.3 years |
| 18 kW | $3.10 | $39,065 | $42,216 | 12.0 years |
| 20 kW | $3.03 | $42,462 | $47,851 | 11.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When making the switch to solar, it’s crucial to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Not all solar companies offer 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.
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 Park Hills, MO Solar Cost FAQs
How much does it cost to install solar panels in Park Hills?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Park Hills?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will installing solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Park Hills is currently $133,947, which means you could be looking at a value of about $5,492 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Park Hills is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.