Solar Panel Cost Guide in Basalt, CO (2023 Update)
- Basalt Solar Installation Cost: $9,942
- 25-Year Savings: $15,225
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Basalt
We go over average solar pricing in Basalt.
The average cost of a solar panel system in Basalt is 2.69 per watt. The average solar panel system size in Basalt is around 5.3 kilowatts, meaning a cost of about $9,942 for a solar installation, or $14,217 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. Many homeowners find going solar is a fruitful investment. The average homeowner in Basalt can save around $18,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Basalt for a quote for your home.
Solar savings over time in Basalt
| Year | Return on Investment |
|---|---|
| 1 years | $-8,936 |
| 3 years | $-6,922 |
| 5 years | $-4,909 |
| 7 years | $-2,896 |
| 9 years | $-882 |
| 11 years | $1,131 |
| 13 years | $3,144 |
| 15 years | $5,158 |
| 17 years | $7,171 |
| 19 years | $9,184 |
| 21 years | $11,198 |
| 23 years | $13,211 |
| 25 years | $15,225 |
Top Solar Installers in Basalt
Although you can install solar panels on your own, it involves extra effort and know-how. For that reason, the majority of homeowners choose a solar panel installer. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Basalt
Factors that Affect Solar Panel Costs in Basalt
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,690 per kilowatt in Basalt. There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Basalt, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $16,836 | 10.3 years |
| 8 kW | $2.74 | $15,365 | $22,749 | 10.1 years |
| 10 kW | $2.69 | $18,830 | $28,812 | 9.9 years |
| 12 kW | $2.64 | $22,144 | $35,027 | 9.7 years |
| 14 kW | $2.58 | $25,308 | $41,392 | 9.5 years |
| 16 kW | $2.53 | $28,320 | $47,907 | 9.3 years |
| 18 kW | $2.47 | $31,182 | $54,574 | 9.1 years |
| 20 kW | $2.42 | $33,894 | $61,391 | 8.9 years |
How to Save on Solar Panels
There are many companies to choose from in Basalt, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies carry 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.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Basalt, CO Solar Cost FAQs
What is the average cost of installing solar panels in Basalt?
The average cost of solar panels in Basalt is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Basalt, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size 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.