Solar Panel Cost Guide in Centennial, CO (2024 Update)
- Centennial Solar Installation Cost: $14,252
- 25-Year Savings: $17,409
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Centennial
Find out how much it might cost to switch to solar power in Centennial.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Centennial, the average cost of solar panels is 4 per watt.The average solar panel system size in Centennial is around 5.1 kilowatts, meaning a cost of about $14,252 for a solar installation, or $20,380 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Centennial based on a variety of factors, such as the type of solar panels you choose and the solar company you hire.With average savings of about $20,000 on utility bills over 20 years, many homeowners in Centennial find going solar can be quite rewarding.
To get a free estimate from a pre-vetted solar installation company in Centennial, you can click the button below.
Solar savings over time in Centennial
| Year | Return on Investment |
|---|---|
| 1 years | $-13,284 |
| 3 years | $-11,348 |
| 5 years | $-9,412 |
| 7 years | $-7,475 |
| 9 years | $-5,539 |
| 11 years | $-3,603 |
| 13 years | $-1,667 |
| 15 years | $270 |
| 17 years | $2,206 |
| 19 years | $4,142 |
| 21 years | $6,078 |
| 23 years | $8,014 |
| 25 years | $9,951 |
Top Solar Installers in Centennial
Putting up solar panels on your own can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. Solar warranties and repairs are usually included in the cost of installation when you opt for a solar company as well, which can save you more money over time.
If you're looking for a solar company in Centennial, the EcoWatch team has organized a list of our top suggestions here:
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
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
See all of the solar companies in Centennial
Factors that Affect Solar Panel Costs in Centennial
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Centennial: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,980.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Centennial, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Centennial, and each can charge different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $4.14 | $17,385 | $14,332 | 13.7 years |
| 8 kW | $4.06 | $22,734 | $19,555 | 13.4 years |
| 10 kW | $3.98 | $27,860 | $25,001 | 13.2 years |
| 12 kW | $3.90 | $32,763 | $30,670 | 12.9 years |
| 14 kW | $3.82 | $37,444 | $36,562 | 12.6 years |
| 16 kW | $3.74 | $41,901 | $42,676 | 12.4 years |
| 18 kW | $3.66 | $46,136 | $49,014 | 12.1 years |
| 20 kW | $3.58 | $50,148 | $55,574 | 11.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The brand of solar panel you’d like to get plays a part in which installer you should opt for, since different companies have access to different panels.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign 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 to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
EcoWatch's Centennial, CO Solar Cost FAQs
What is the average cost of installing solar panels in Centennial?
The average cost of solar panels in Centennial is about $19,900 for a 5-kW system and $39,800 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 it better to lease or buy solar panels in Centennial?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably 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% after installing solar panels."
How long do solar panels last in Centennial?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.