Solar Panel Cost Guide in Broomfield, CO (2023 Update)
- Broomfield Solar Installation Cost: $9,867
- 25-Year Savings: $16,446
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Broomfield
Here's how much it might cost to switch to solar power in Broomfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Broomfield, the typical cost of a solar system is 2.69 per watt. To account for the typical energy needs of the average home in Broomfield, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,867, or $14,110 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you choose to go with. With average savings of about $19,000 on energy bills over 20 years, many homeowners in Broomfield find investing in solar has a decent ROI.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Broomfield
| Year | Return on Investment |
|---|---|
| 1 years | $-8,814 |
| 3 years | $-6,709 |
| 5 years | $-4,604 |
| 7 years | $-2,499 |
| 9 years | $-394 |
| 11 years | $1,711 |
| 13 years | $3,816 |
| 15 years | $5,921 |
| 17 years | $8,026 |
| 19 years | $10,131 |
| 21 years | $12,236 |
| 23 years | $14,341 |
| 25 years | $16,446 |
Top Solar Installers in Broomfield
When going solar, many homeowners decide to use a solar company since DIY solar panel installation can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Broomfield
Factors that Affect Solar Panel Costs in Broomfield
Even though the average cost of a solar system in Broomfield is $9,867, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,690. The brand of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Broomfield provide solar loans, which reduce the initial cost of installing solar panels. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Broomfield is the company you hire to install your solar panel system. As with 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. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $18,406 | 9.7 years |
| 8 kW | $2.74 | $15,365 | $24,843 | 9.6 years |
| 10 kW | $2.69 | $18,830 | $31,430 | 9.4 years |
| 12 kW | $2.64 | $22,144 | $38,168 | 9.2 years |
| 14 kW | $2.58 | $25,308 | $45,057 | 9.0 years |
| 16 kW | $2.53 | $28,320 | $52,096 | 8.8 years |
| 18 kW | $2.47 | $31,182 | $59,286 | 8.6 years |
| 20 kW | $2.42 | $33,894 | $66,626 | 8.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the 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:
- Contract: Review the contract terms closely to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Broomfield, CO Solar Cost FAQs
What is the average cost of installing solar panels in Broomfield?
The average cost of solar panels in Broomfield 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 like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Broomfield?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.