Solar Panel Cost Guide in Cherry Hills Village, CO (2024 Update)
- Cherry Hills Village Solar Installation Cost: $14,252
- 25-Year Savings: $16,820
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Cherry Hills Village
Find out how much it might cost to make the switch to solar in Cherry Hills Village.
Although the national average of solar panels is $2.66 per watt, solar panels in Cherry Hills Village generally cost around 4.The average solar panel system size in Cherry Hills Village 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 the cost of a solar panel system. The true cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy usage and what company you go with.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Cherry Hills Village see about $20,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Cherry Hills Village
| 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 Hills Village
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your switch to solar power much easier. Plus, if you’d like to maximize your investment in solar, going with a solar installer can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you're searching for a solar company in Cherry Hills Village, the EcoWatch team has compiled 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 Hills Village
Factors that Affect Solar Panel Costs in Cherry Hills Village
The cost of installing a solar system in Cherry Hills Village can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest 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
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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,980 per kilowatt in Cherry Hills Village.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Cherry Hills Village, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Cherry Hills Village, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your overall costs, so it’s important to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Cherry Hills Village is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $13,641 | 14.0 years |
| 8 kW | $4.06 | $22,734 | $18,634 | 13.7 years |
| 10 kW | $3.98 | $27,860 | $23,850 | 13.5 years |
| 12 kW | $3.90 | $32,763 | $29,289 | 13.2 years |
| 14 kW | $3.82 | $37,444 | $34,950 | 12.9 years |
| 16 kW | $3.74 | $41,901 | $40,835 | 12.7 years |
| 18 kW | $3.66 | $46,136 | $46,942 | 12.4 years |
| 20 kW | $3.58 | $50,148 | $53,272 | 12.1 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:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
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 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 a variety of factors. Generally speaking, it costs about $19,900 for a 5-kW system and $39,800 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 above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Cherry Hills Village?
You can’t get solar panels for free in Cherry Hills Village. 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.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,034.20 per year.
How long do solar panels last in Cherry Hills Village?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.