Solar Panel Cost Guide in Cherry Hills Village, CO (Jan 2023)
- Cherry Hills Village Solar Installation Cost: $9,641
- 25-Year Savings: $16,812
- Payback Period: 9.1 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Cherry Hills Village
Find out what the average cost of a solar system is in Cherry Hills Village.
While the national average of solar panels is $2.66 per watt, solar panels in Cherry Hills Village generally cost about $3. Because a 5.1-kW system is needed to cover the energy costs of a typical home in Cherry Hills Village, the average price of going solar will be about $9,641 before claiming the federal solar tax credit of 30%.
These figures are only estimates, and how much solar costs for you may differ based on the amount of energy your home requires and what company you want to go with. With typical savings of about $20,000 on energy bills over 20 years, many homeowners in Cherry Hills Village find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar company in Cherry Hills Village for a quote for your home.
Solar savings over time in Cherry Hills Village
| Year | Return on Investment |
|---|---|
| 1 years | $-8,583 |
| 3 years | $-6,467 |
| 5 years | $-4,350 |
| 7 years | $-2,234 |
| 9 years | $-118 |
| 11 years | $1,998 |
| 13 years | $4,115 |
| 15 years | $6,231 |
| 17 years | $8,347 |
| 19 years | $10,463 |
| 21 years | $12,580 |
| 23 years | $14,696 |
| 25 years | $16,812 |
Top Solar Installers in Cherry Hills Village
Installing solar panels by yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are a number of 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Cherry Hills Village
Factors that Affect Solar Panel Costs in Cherry Hills Village
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Cherry Hills Village: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Cherry Hills Village, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Cherry Hills Village average.
Solar Financing Terms
Most solar installers in Cherry Hills Village offer solar loans, which reduce your upfront costs of installing solar panels. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Some companies 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 at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fits 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 | $19,276 | 9.5 years |
| 8 kW | $2.74 | $15,365 | $26,003 | 9.3 years |
| 10 kW | $2.69 | $18,830 | $32,880 | 9.1 years |
| 12 kW | $2.64 | $22,144 | $39,908 | 8.9 years |
| 14 kW | $2.58 | $25,308 | $47,087 | 8.7 years |
| 16 kW | $2.53 | $28,320 | $54,416 | 8.6 years |
| 18 kW | $2.47 | $31,182 | $61,896 | 8.4 years |
| 20 kW | $2.42 | $33,894 | $69,526 | 8.2 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: The type of solar panel you want plays a role in which company you should opt for, since different companies offer different panels.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Cherry Hills Village, CO Solar Cost FAQs
What is the average cost of installing solar panels in Cherry Hills Village?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, 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 Cherry Hills Village?
Leasing solar panels can be an option if you are unable to 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 home 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.
Can you sell solar power back to the grid in Cherry Hills Village?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.