Solar Panel Cost Guide in Basalt, CO (2024 Update)
- Basalt Solar Installation Cost: $14,717
- 25-Year Savings: $15,220
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Basalt
We break down average solar pricing in Basalt.
In Basalt, solar panels cost about 4 per watt on average.The average solar panel system size in Basalt is around 5.3 kilowatts, meaning a cost of about $14,717 for a solar installation, or $21,045 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you may look different based on your energy needs and what company you go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on utility bills.
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Solar savings over time in Basalt
| Year | Return on Investment |
|---|---|
| 1 years | $-13,749 |
| 3 years | $-11,812 |
| 5 years | $-9,876 |
| 7 years | $-7,940 |
| 9 years | $-6,004 |
| 11 years | $-4,068 |
| 13 years | $-2,131 |
| 15 years | $-195 |
| 17 years | $1,741 |
| 19 years | $3,677 |
| 21 years | $5,614 |
| 23 years | $7,550 |
| 25 years | $9,486 |
Top Solar Installers in Basalt
When switching to solar energy, many homeowners prefer to go with a solar company since putting up solar panels yourself can be a challenging project. The expertise that solar installers offer can be invaluable as well, especially if you don’t quite know what kind of solar equipment would be right for your home.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers in Basalt:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Basalt
Factors that Affect Solar Panel Costs in Basalt
Though the average cost of a solar system in Basalt is $14,717, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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 $3,980.There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install 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 Basalt have solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also increases your total costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, 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 | $4.14 | $17,385 | $11,201 | 15.2 years |
| 8 kW | $4.06 | $22,734 | $15,380 | 14.9 years |
| 10 kW | $3.98 | $27,860 | $19,782 | 14.6 years |
| 12 kW | $3.90 | $32,763 | $24,407 | 14.3 years |
| 14 kW | $3.82 | $37,444 | $29,255 | 14.0 years |
| 16 kW | $3.74 | $41,901 | $34,326 | 13.7 years |
| 18 kW | $3.66 | $46,136 | $39,620 | 13.4 years |
| 20 kW | $3.58 | $50,148 | $45,137 | 13.2 years |
How to Save on Solar Panels
There are a lot of companies available in Basalt, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Basalt, CO Solar Cost FAQs
How much does it cost to install solar panels in Basalt?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Basalt?
You can’t get solar panels for free in Basalt. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Basalt is currently $1,264,675, which means you can expect a value of about $51,852 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Basalt 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 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.