Solar Panel Cost Guide in Richmond Heights, MO (2023 Update)
- Richmond Heights 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 Richmond Heights
Find out what the average cost of installing solar panels is in Richmond Heights.
The average cost of a solar system in Richmond Heights is 2.59 per watt. The average Richmond Heights homeowner needs a 7.2-kilowatt system, which would cost about $13,108 with the federal tax credit, or $18,744 before the 30% tax credit is applied.
These figures are just averages, and how much solar costs for you will vary based on your energy needs and what company you go with. For most homeowners, the upfront investment in solar is worth paying. On average Richmond Heights homeowners see about $17,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Richmond Heights
| 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 Richmond Heights
Although you can install solar panels by yourself, it involves extra energy and handiness. Because of that, most people choose to go with a solar panel installer. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Richmond Heights
Factors that Affect Solar Panel Costs in Richmond Heights
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation 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 $2,590. The kind of solar equipment you choose can increase or decrease your cost 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. However, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Richmond Heights average.
Solar Financing Terms
Many homeowners find the average cost of solar in Richmond Heights to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Richmond Heights are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
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 Richmond Heights, MO Solar Cost FAQs
What is the average cost of installing solar panels in Richmond Heights?
The average cost of solar panels in Richmond Heights 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Richmond Heights, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.