Solar Panel Cost Guide in Centennial, CO (2023 Update)
- Centennial Solar Installation Cost: $9,633
- 25-Year Savings: $17,409
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Centennial
See how much it might cost to install solar panels in Centennial.
The national average cost of solar panels is $2.66 per watt, but in Centennial it's 2.69 per watt. The average solar panel system size in Centennial is around 5.1 kilowatts, meaning a cost of about $9,641 for a solar installation, or $13,787 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar system you choose, your solar contractor and more. With typical savings of about $20,000 on utility bills over 20 years, many homeowners in Centennial find installing solar panels has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in Centennial that can help you get a more accurate cost estimate for your home.
Solar savings over time in Centennial
| Year | Return on Investment |
|---|---|
| 1 years | $-8,665 |
| 3 years | $-6,728 |
| 5 years | $-4,792 |
| 7 years | $-2,856 |
| 9 years | $-920 |
| 11 years | $1,016 |
| 13 years | $2,953 |
| 15 years | $4,889 |
| 17 years | $6,825 |
| 19 years | $8,761 |
| 21 years | $10,698 |
| 23 years | $12,634 |
| 25 years | $14,570 |
Top Solar Installers in Centennial
When going solar, many homeowners choose to use a solar installation company since installing a solar system yourself can be a difficult project. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Centennial:
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 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 key factors that affect your total cost in Centennial: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Centennial. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Centennial average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your total costs, so it's important to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also is within your budget.
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 | $19,967 | 9.3 years |
| 8 kW | $2.74 | $15,365 | $26,923 | 9.1 years |
| 10 kW | $2.69 | $18,830 | $34,031 | 8.9 years |
| 12 kW | $2.64 | $22,144 | $41,289 | 8.7 years |
| 14 kW | $2.58 | $25,308 | $48,698 | 8.5 years |
| 16 kW | $2.53 | $28,320 | $56,257 | 8.4 years |
| 18 kW | $2.47 | $31,182 | $63,967 | 8.2 years |
| 20 kW | $2.42 | $33,894 | $71,828 | 8.0 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Centennial?
You can't get solar panels for free in Centennial. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Centennial, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Centennial?
Even 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 the amount of energy they produce 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.