Solar Panel Cost Guide in Cherry Creek, CO (2024 Update)
- Cherry Creek Solar Installation Cost: $14,252
- 25-Year Savings: $17,802
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Cherry Creek
Find out what the average cost of a solar system is in Cherry Creek.
The average cost of solar panels in Cherry Creek is 4 per watt.The average solar panel system size in Cherry Creek 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 actual price you pay can be higher or lower than the average in Cherry Creek depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Cherry Creek can save about $20,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a custom estimate.
Solar savings over time in Cherry Creek
| 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 Cherry Creek
Installing solar panels by yourself can be a time-consuming project, which is why getting a solar installation company is a good option for many homeowners. Another benefit of using a solar company is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you're looking for a solar company in Cherry Creek, the EcoWatch team has put together 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 Cherry Creek
Factors that Affect Solar Panel Costs in Cherry Creek
There are many factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of solar panels in Cherry Creek, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,980 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down 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. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Cherry Creek average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Cherry Creek homeowners opt to finance their solar panel systems to offset upfront costs.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Cherry Creek, and each can charge varying amounts for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that provides 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 | $4.14 | $17,385 | $14,792 | 13.5 years |
| 8 kW | $4.06 | $22,734 | $20,169 | 13.2 years |
| 10 kW | $3.98 | $27,860 | $25,768 | 13.0 years |
| 12 kW | $3.90 | $32,763 | $31,590 | 12.7 years |
| 14 kW | $3.82 | $37,444 | $37,636 | 12.5 years |
| 16 kW | $3.74 | $41,901 | $43,904 | 12.2 years |
| 18 kW | $3.66 | $46,136 | $50,395 | 11.9 years |
| 20 kW | $3.58 | $50,148 | $57,108 | 11.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The type of solar panel you want plays a part in which company you should choose, since different companies have access to different panels.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
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 Cherry Creek, CO Solar Cost FAQs
How much does it cost to install solar panels in Cherry Creek?
The average cost of solar panels in Cherry Creek 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Cherry Creek?
Solar panels aren’t free in Cherry Creek, 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 help lower the cost.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can opt 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.