Solar Panel Cost Guide in Arvada, CO (2023 Update)
- Arvada Solar Installation Cost: $9,792
- 25-Year Savings: $15,963
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Arvada
Here's how much it might cost to make the switch to solar in Arvada.
The average cost of a solar system in Arvada is 2.69 per watt. To cover the typical energy usage of the average home in Arvada, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $9,792, or $14,003 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what company you go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Arvada
| Year | Return on Investment |
|---|---|
| 1 years | $-8,761 |
| 3 years | $-6,701 |
| 5 years | $-4,641 |
| 7 years | $-2,580 |
| 9 years | $-520 |
| 11 years | $1,540 |
| 13 years | $3,601 |
| 15 years | $5,661 |
| 17 years | $7,722 |
| 19 years | $9,782 |
| 21 years | $11,842 |
| 23 years | $13,903 |
| 25 years | $15,963 |
Top Solar Installers in Arvada
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar company can make your swap to solar power much easier. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Arvada
Factors that Affect Solar Panel Costs in Arvada
For many Arvada homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Arvada, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The kind 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, higher efficiency 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 Arvada average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Arvada, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Arvada, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $2.80 | $11,750 | $17,950 | 9.9 years |
| 8 kW | $2.74 | $15,365 | $24,235 | 9.7 years |
| 10 kW | $2.69 | $18,830 | $30,670 | 9.5 years |
| 12 kW | $2.64 | $22,144 | $37,256 | 9.3 years |
| 14 kW | $2.58 | $25,308 | $43,993 | 9.1 years |
| 16 kW | $2.53 | $28,320 | $50,880 | 8.9 years |
| 18 kW | $2.47 | $31,182 | $57,918 | 8.7 years |
| 20 kW | $2.42 | $33,894 | $65,107 | 8.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: When making the switch to solar, it's crucial to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Arvada, CO Solar Cost FAQs
How much does it cost to install solar panels in Arvada?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,450 for a 5-kW system and $26,900 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 above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Arvada?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 financial benefits from going solar.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Arvada is currently $393,502, which means you can expect a value of about $16,134 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Arvada is a fruitful investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.