Merocyanines, as prototypes of highly polar π-conjugated molecules, have been intensively investigated for their self-assembly and optoelectronic properties, both experimentally and theoretically. However, an accurate description of their structural and electronic properties remains challenging for quantum-chemical methods. We assessed several theoretical approaches, TD-DFT, GW-BSE, STEOM-DLPNO-CCSD, and CASSCF/NEVPT2-FIC for their reliability in reproducing optoelectronic properties of a series of donor/acceptor (D/A) merocyanines, focusing on the first excitation energy. Additionally, we tested an all-electron perturbative method based on time-dependent coupled-perturbed density functional theory, denoted as TDCP-DFT. Particular focus was set on direct and indirect solvent effects, which affect excited-state energies by electrostatic interaction and molecular geometry. The molecular configuration space was sampled at the semiempirical tight-binding level. Our results corroborate previous investigations, showing that the S0 - S1 excitation energy strongly depends on the merocyanine molecular structure and the dielectric constant of the solvent. We found significant effects of the polar solution environment on the geometry of the merocyanines, which strongly affect the calculated excitation energies. Taking these effects into account, the best agreement between calculated and measured excitation energies was obtained with TDCP-DFT and GW-BSE. We also calculated excitation energies of molecular crystals at the TDCP-DFT level and compared the results to the corresponding monomers.