Solar Panel Cost Guide in Castle Rock, CO (2024 Update)
- Castle Rock Solar Installation Cost: $14,333
- 25-Year Savings: $18,991
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Castle Rock
Let’s take a look at the average cost of solar panels in Castle Rock.
The national average cost of solar panels is $2.66 per watt, but in Castle Rock it’s 4 per watt.To cover the typical energy usage of the average home in Castle Rock, most homeowners require a 5.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,333, or $20,496 before the federal solar tax credit of 0 is applied.
These figures are only averages, and how much solar costs for you will differ based on your specific situation and what company you want to go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Castle Rock can save around $21,000 on their energy bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Castle Rock
| Year | Return on Investment |
|---|---|
| 1 years | $-13,284 |
| 3 years | $-11,186 |
| 5 years | $-9,088 |
| 7 years | $-6,990 |
| 9 years | $-4,892 |
| 11 years | $-2,795 |
| 13 years | $-697 |
| 15 years | $1,401 |
| 17 years | $3,499 |
| 19 years | $5,597 |
| 21 years | $7,695 |
| 23 years | $9,792 |
| 25 years | $11,890 |
Top Solar Installers in Castle Rock
Although you can install solar panels by yourself, it involves extra energy and handiness. That's why most people choose a solar panel installer. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Castle Rock
Factors that Affect Solar Panel Costs in Castle Rock
There are a number of criteria that can influence your 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
The size of the solar system you need, 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 $3,980. There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Castle Rock offer solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also increases your total costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Castle Rock is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services at different price points.Additionally, some companies in Castle Rock are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $16,062 | 13.0 years |
| 8 kW | $4.06 | $22,734 | $21,862 | 12.7 years |
| 10 kW | $3.98 | $27,860 | $27,885 | 12.5 years |
| 12 kW | $3.90 | $32,763 | $34,130 | 12.2 years |
| 14 kW | $3.82 | $37,444 | $40,598 | 12.0 years |
| 16 kW | $3.74 | $41,901 | $47,290 | 11.7 years |
| 18 kW | $3.66 | $46,136 | $54,204 | 11.5 years |
| 20 kW | $3.58 | $50,148 | $61,341 | 11.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established 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 look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: The model of solar panel you’d like to get plays a role in which installer you should opt for, since different companies have access to different panels.
- Contract: Before signing a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Castle Rock, CO Solar Cost FAQs
What is the average cost of installing solar panels in Castle Rock?
This is a hard question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Castle Rock?
A solar panel system isn’t free in Castle Rock, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Castle Rock?
Most states have net metering programs of some kind. Through these, you can either be compensated 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.
How long do solar panels last in Castle Rock?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.