Solar Panel Cost Guide in Cañon City, CO (2024 Update)
- Cañon City Solar Installation Cost: $14,048
- 25-Year Savings: $23,567
- Payback Period: 10.6 Years
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Average Cost of Solar Panels in Cañon City
Let’s have a look at the average cost of solar in Cañon City.
In Cañon City, solar panels cost about 4 per watt on average.Since a 5.0-kW system is needed to cover the energy consumption of a typical home in Cañon City, the average price of going solar will be about $14,048 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Cañon City homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the large upfront cost, the average Cañon City homeowner can save about $26,000 on their energy bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cañon City
| Year | Return on Investment |
|---|---|
| 1 years | $-12,662 |
| 3 years | $-9,891 |
| 5 years | $-7,120 |
| 7 years | $-4,349 |
| 9 years | $-1,578 |
| 11 years | $1,193 |
| 13 years | $3,964 |
| 15 years | $6,735 |
| 17 years | $9,506 |
| 19 years | $12,277 |
| 21 years | $15,048 |
| 23 years | $17,819 |
| 25 years | $20,590 |
Top Solar Installers in Cañon City
When making the switch to solar, many homeowners choose to hire a solar installation company since installing solar panels yourself can be a difficult project. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for you.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Cañon City
Factors that Affect Solar Panel Costs in Cañon City
There are a number of factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Cañon City, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $3,980 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install 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
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Cañon City homeowners opt to finance their solar panel systems to offset upfront costs.Although solar loans make going solar more accessible for Cañon City homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Cañon City is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that offer a range of services at different price points.Additionally, some companies in Cañon City are more knowledgeable about local solar incentives and can help you take advantage of 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 | $21,957 | 11.0 years |
| 8 kW | $4.06 | $22,734 | $29,721 | 10.8 years |
| 10 kW | $3.98 | $27,860 | $37,709 | 10.6 years |
| 12 kW | $3.90 | $32,763 | $45,919 | 10.4 years |
| 14 kW | $3.82 | $37,444 | $54,352 | 10.2 years |
| 16 kW | $3.74 | $41,901 | $63,008 | 10.0 years |
| 18 kW | $3.66 | $46,136 | $71,887 | 9.8 years |
| 20 kW | $3.58 | $50,148 | $80,989 | 9.6 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Cañon City, 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:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Cañon City, CO Solar Cost FAQs
What is the average cost of installing solar panels in Cañon City?
This is a difficult question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities 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 will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cañon City is currently $273,811, so you can look forward to a value of about $11,226 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cañon City is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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.