Solar Panel Cost Guide in University City, MO (Mar 2023)
- University City Solar Installation Cost: $13,108
- 25-Year Savings: $18,723
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in University City
Find out what the average cost of a solar system is in University City.
While the national average of solar panels is $2.66 per watt, solar panels in University City typically cost around 2.59. Because a 7.2-kW system is needed to cover the energy consumption of a typical home in University City, the average price of going solar will be about $13,108 after claiming the federal solar tax credit of 30%.
How much you pay can go above or below the average in University City depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on utility bills.
Click the button below to get connected to a top solar installer in your area for a custom estimate.
Solar savings over time in University City
| 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 University City
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make switching to solar power much easier. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 University City
Factors that Affect Solar Panel Costs in University City
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in University City: 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 size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $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 choose 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 electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the University City average.
Solar Financing Terms
Most solar installers in University City offer solar loans, which reduce your upfront costs of installing a solar system. 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 installation company you select will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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
The solar panel company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- 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 has an impact on which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: If you care about the longevity of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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 University City, MO Solar Cost FAQs
How much does it cost to install solar panels in University City?
The average cost of solar panels in University City 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in University City?
Leasing solar panels can be an option if you can't pay upfront or secure 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 savings from going solar.
Is going solar worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.