Solar Panel Cost Guide in Troy, MO (2024 Update)
- Troy Solar Installation Cost: $17,116
- 25-Year Savings: $16,132
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Troy
Find out what the average cost of a solar system is in Troy.
The national average cost of solar panels is $2.66 per watt, but in Troy it’s 3 per watt.The average solar panel system size in Troy is around 7.3 kilowatts, meaning a cost of about $17,116 for a solar installation, or $24,476 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Troy based on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.Even with the high upfront cost, the average Troy homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a top solar installer in Troy, you can click the button below.
Solar savings over time in Troy
| Year | Return on Investment |
|---|---|
| 1 years | $-15,825 |
| 3 years | $-13,244 |
| 5 years | $-10,663 |
| 7 years | $-8,082 |
| 9 years | $-5,501 |
| 11 years | $-2,919 |
| 13 years | $-338 |
| 15 years | $2,243 |
| 17 years | $4,824 |
| 19 years | $7,405 |
| 21 years | $9,986 |
| 23 years | $12,567 |
| 25 years | $15,149 |
Top Solar Installers in Troy
Putting up solar panels on your own can be a stressful task, which is why getting a solar installer is a good option for many homeowners. Plus, if you aren’t sure what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations for providers nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Troy
Factors that Affect Solar Panel Costs in Troy
Cost is often 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 Troy: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need 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 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 in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Troy average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Troy, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $9,498 | 15.2 years |
| 8 kW | $3.44 | $19,249 | $13,042 | 14.9 years |
| 10 kW | $3.37 | $23,590 | $16,774 | 14.6 years |
| 12 kW | $3.30 | $27,742 | $20,695 | 14.3 years |
| 14 kW | $3.24 | $31,705 | $24,804 | 14.0 years |
| 16 kW | $3.17 | $35,479 | $29,103 | 13.7 years |
| 18 kW | $3.10 | $39,065 | $33,590 | 13.4 years |
| 20 kW | $3.03 | $42,462 | $38,266 | 13.1 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose significantly affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Troy, MO Solar Cost FAQs
How much does it cost to install solar panels in Troy?
The average cost of solar panels in Troy is about $16,850 for a 5-kW system and $33,700 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Troy?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Troy, 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 contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Troy?
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 amount 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.