Solar Panel Cost Guide in Parkville, MO (2023 Update)
- Parkville Solar Installation Cost: $13,162
- 25-Year Savings: $23,716
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Parkville
Find out how much it might cost to install solar panels in Parkville.
The national average cost of solar panels is $2.66 per watt, but in Parkville it's 2.59 per watt. The average Parkville homeowner needs a 7.3-kilowatt system, which would cost about $13,162 with the federal tax credit, or $18,822 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Parkville homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Parkville see about $19,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar company in Parkville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Parkville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,687 |
| 3 years | $-8,737 |
| 5 years | $-5,787 |
| 7 years | $-2,836 |
| 9 years | $114 |
| 11 years | $3,064 |
| 13 years | $6,014 |
| 15 years | $8,965 |
| 17 years | $11,915 |
| 19 years | $14,865 |
| 21 years | $17,816 |
| 23 years | $20,766 |
| 25 years | $23,716 |
Top Solar Installers in Parkville
When making the switch to solar, many homeowners choose to go with a solar company since putting up a solar system yourself can be a difficult project. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Parkville
Factors that Affect Solar Panel Costs in Parkville
For many Parkville homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Parkville, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,590 per kilowatt in Parkville. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Parkville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies operating in Parkville, and each can charge different amounts for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for and also is within your budget.
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 | $19,144 | 9.3 years |
| 8 kW | $2.64 | $14,794 | $25,816 | 9.1 years |
| 10 kW | $2.59 | $18,130 | $32,632 | 8.9 years |
| 12 kW | $2.54 | $21,321 | $39,594 | 8.8 years |
| 14 kW | $2.49 | $24,367 | $46,700 | 8.6 years |
| 16 kW | $2.43 | $27,268 | $53,952 | 8.4 years |
| 18 kW | $2.38 | $30,023 | $61,349 | 8.2 years |
| 20 kW | $2.33 | $32,634 | $68,890 | 8.0 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Solar Panel Brands: Not all solar companies 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 opt for.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: If you're worried about the longevity of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Parkville, MO Solar Cost FAQs
How much does it cost to install solar panels in Parkville?
The average cost of solar panels in Parkville is about $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Parkville?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Parkville, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 decreases 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.