Solar Panel Cost Guide in Castle Pines, CO (2023 Update)
- Castle Pines Solar Installation Cost: $9,687
- 25-Year Savings: $17,747
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Castle Pines
Find out what the average cost of solar panels are in Castle Pines.
The average cost of a solar panel system in Castle Pines is 2.69 per watt. Since a 5.1-kW system is needed to cover the energy costs of a typical home in Castle Pines, the average price of going solar will be about $9,679 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Castle Pines homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average Castle Pines homeowners see about $20,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar installer in Castle Pines, you can click the button below.
Solar savings over time in Castle Pines
| Year | Return on Investment |
|---|---|
| 1 years | $-8,719 |
| 3 years | $-6,783 |
| 5 years | $-4,847 |
| 7 years | $-2,910 |
| 9 years | $-974 |
| 11 years | $962 |
| 13 years | $2,898 |
| 15 years | $4,834 |
| 17 years | $6,771 |
| 19 years | $8,707 |
| 21 years | $10,643 |
| 23 years | $12,579 |
| 25 years | $14,515 |
Top Solar Installers in Castle Pines
When switching to solar energy, many homeowners choose to go with a solar installer since installing solar panels yourself can be a challenging project. Another good thing about choosing a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
You can work with a local solar installer to get a free estimate 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 Castle Pines
Factors that Affect Solar Panel Costs in Castle Pines
There are a number of factors that can influence 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 system in Castle Pines, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much 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 choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Castle Pines, and each can charge different amounts for labor and equipment. 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 access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $20,246 | 9.2 years |
| 8 kW | $2.74 | $15,365 | $27,296 | 9.0 years |
| 10 kW | $2.69 | $18,830 | $34,496 | 8.8 years |
| 12 kW | $2.64 | $22,144 | $41,848 | 8.7 years |
| 14 kW | $2.58 | $25,308 | $49,350 | 8.5 years |
| 16 kW | $2.53 | $28,320 | $57,002 | 8.3 years |
| 18 kW | $2.47 | $31,182 | $64,805 | 8.1 years |
| 20 kW | $2.42 | $33,894 | $72,759 | 7.9 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Different companies have various brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Castle Pines, CO Solar Cost FAQs
How much does it cost to install solar panels in Castle Pines?
The average cost of solar panels in Castle Pines 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a key 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 think about are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Castle Pines?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.