Solar Panel Cost Guide in Applewood, CO (2024 Update)
- Applewood Solar Installation Cost: $14,622
- 25-Year Savings: $16,897
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Applewood
Find out what the average cost of installing solar panels is in Applewood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Applewood, the average cost of solar panels is 4 per watt.Because a 5.2-kW system is needed to cover the energy usage of a typical home in Applewood, the average price of going solar will be about $14,622 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.With typical savings of about $19,000 on power bills over 20 years, many homeowners in Applewood find installing solar panels can pay off big.
You can click the button below to get connected with a top solar company in Applewood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Applewood
| Year | Return on Investment |
|---|---|
| 1 years | $-13,654 |
| 3 years | $-11,718 |
| 5 years | $-9,781 |
| 7 years | $-7,845 |
| 9 years | $-5,909 |
| 11 years | $-3,973 |
| 13 years | $-2,037 |
| 15 years | $-100 |
| 17 years | $1,836 |
| 19 years | $3,772 |
| 21 years | $5,708 |
| 23 years | $7,645 |
| 25 years | $9,581 |
Top Solar Installers in Applewood
Although you can install solar panels yourself, it requires extra time and knowledge. That's one of the reasons almost all homeowners choose to hire a solar panel installer. In addition, if you’d like to maximize your investment in solar energy, using a solar installer can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
If you're looking for a solar installer in Applewood, the EcoWatch team has put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Applewood
Factors that Affect Solar Panel Costs in Applewood
There are several factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,980.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Applewood, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Applewood offer solar loans, which reduce your upfront costs of installing solar panels.It’s wise to include 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 off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can affect the cost. Applewood’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Applewood are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $4.14 | $17,385 | $13,231 | 14.2 years |
| 8 kW | $4.06 | $22,734 | $18,086 | 13.9 years |
| 10 kW | $3.98 | $27,860 | $23,165 | 13.7 years |
| 12 kW | $3.90 | $32,763 | $28,467 | 13.4 years |
| 14 kW | $3.82 | $37,444 | $33,992 | 13.1 years |
| 16 kW | $3.74 | $41,901 | $39,739 | 12.8 years |
| 18 kW | $3.66 | $46,136 | $45,709 | 12.6 years |
| 20 kW | $3.58 | $50,148 | $51,903 | 12.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Applewood, CO Solar Cost FAQs
What is the average cost of installing solar panels in Applewood?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $19,900 for a 5-kW system and $39,800 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
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 viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Applewood have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels 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.