Solar Panel Cost Guide in Applewood, CO (Sep 2022)

  • Applewood Solar Installation Cost: $9,886
  • 25-Year Savings: $16,894
  • Payback Period: 9.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Applewood

Let's have a look at the average cost of solar in Applewood.

The average cost of a solar system in Applewood is $3 per watt. The average Applewood homeowner needs a 5.2-kilowatt system, which would cost about $9,886, or $7,316 after the federal solar tax credit of 30% is applied.

These figures are just estimates, and your own solar costs will differ based on the amount of energy your home requires and what company you want to go with. For most homeowners, the upfront cost of solar power is worth paying. On average Applewood homeowners see about $19,000 in savings on energy bills over 20 years.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Applewood

Year Return on Investment
1 years $-8,815
3 years $-6,672
5 years $-4,530
7 years $-2,387
9 years $-245
11 years $1,898
13 years $4,040
15 years $6,182
17 years $8,325
19 years $10,467
21 years $12,610
23 years $14,752
25 years $16,894

Top Solar Installers in Applewood

Many homeowners decide to use a solar installation company since installing solar panels on your own can be time-consuming. Plus, if you're unsure what type of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.

You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Applewood:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Applewood

Factors that Affect Solar Panel Costs in Applewood

For many Applewood homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Applewood, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

When it comes to estimating the cost of a solar energy system in Applewood, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Most solar installers in Applewood provide 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 decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Applewood is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that provide a range of services for different budgets. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.80 $11,750 $18,865 9.6 years
8 kW $2.74 $15,365 $25,455 9.4 years
10 kW $2.69 $18,830 $32,195 9.2 years
12 kW $2.64 $22,144 $39,086 9.0 years
14 kW $2.58 $25,308 $46,128 8.9 years
16 kW $2.53 $28,320 $53,320 8.7 years
18 kW $2.47 $31,182 $60,663 8.5 years
20 kW $2.42 $33,894 $68,157 8.3 years

Solar Incentives in Applewood

Name Property Tax Exemption for Residential Renewable Energy Equipment
Website Visit here
More Info Click here

Name Sales and Use Tax Exemption for Renewable Energy Equipment
Incentive Amount 100%
Website Visit here
More Info Click here

Name Eagle County - Energy Smart Colorado Renewable Energy Rebate Program
Website Visit here
More Info Click here

Name City of Boulder - Solar Sales and Use Tax Rebate
Website Visit here
More Info Click here

Name Roaring Fork Valley - Energy Smart Colorado Renewable Energy Rebate Program
Website Visit here
More Info Click here

Name Property Tax Exemption for Community Solar Gardens
Website Visit here
More Info Click here

Name Xcel Energy - Solar*Rewards Program
Website Visit here
More Info Click here

Name Local Option - Sales and Use Tax Exemption for Renewable Energy Systems
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Efficiency Works - Residential Energy Efficiency Rebate Program (Offered by 4 Utilities)
Website Visit here
More Info Click here

Name Xcel Energy - Residential Energy Efficiency Financing
Incentive Amount Up to $50,000
Website Visit here
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Name Xcel Energy - Residential Energy Efficiency Rebate Programs
Website Visit here
More Info Click here

Name Xcel Energy - Home Performance with ENERGY STAR
Website Visit here
More Info Click here

Name Residential Energy Upgrade (RENU) Loan Program
Incentive Amount $35,000
Website Visit here
More Info Click here

Name Green Colorado Credit Reserve
Incentive Amount $250,000
Website Visit here
More Info Click here

Name Xcel Energy - Solar*Rewards Community Program
Website Visit here
More Info Click here

Name Eagle, Garfield, Gunnison, Lake, and Pitkin Counties - Energy Smart Colorado Loan Program
Incentive Amount $25,000
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the model of solar panels and the company you choose greatly impacts 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:

  • Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
  • 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: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Applewood, CO Solar Cost FAQs

What is the average cost of installing solar panels in Applewood?

The average cost of solar panels in Applewood is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Applewood?

A solar panel system isn't free in Applewood, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Is going solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.

How long do solar panels last in Applewood?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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