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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Updated February 03, 2024
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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.
Although the national average of solar panels is $2.66 per watt, solar panels in Centennial generally cost about 4.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.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what installation company you go with.Despite the significant upfront cost, the average Centennial homeowner can save about $20,000 on their power bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar installer 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 | $-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
Many homeowners choose to use a solar panel installer since figuring out how to install solar panels yourself can be time-consuming. Solar warranties and repairs are often included in the cost of installation when you sign a contract with a solar company too, which can save you more money over time.
If you’d like to make the switch to solar but still aren’t certain which solar installer to go with, here are our suggestions for providers nearby:
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 Centennial
Factors that Affect Solar Panel Costs in Centennial
The cost of installing a solar system in Centennial can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,980. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Centennial, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Centennial to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.While solar loans make going solar more accessible for Centennial homeowners, they can also add to 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Centennial know more about local solar incentives and can help you make good use 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 | $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
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you need plays a part in which installer you should opt for, since different companies have different panels.
- Warranty: If you’re concerned about the durability of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Review the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- 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 install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
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 Centennial, CO Solar Cost FAQs
What is the average cost of installing solar panels in Centennial?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Centennial?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Centennial is currently $636,154, which means you could be looking at a value of about $26,082 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Centennial is a fruitful investment.
How long do solar panels last in Centennial?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.