Solar Panel Cost Guide in Cherry Hills Village, CO (2023 Update)
- Cherry Hills Village Solar Installation Cost: $9,633
- 25-Year Savings: $16,820
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cherry Hills Village
Here's how much it might cost to make the switch to solar in Cherry Hills Village.
The average cost of solar panels in Cherry Hills Village is 2.69 per watt. The average solar panel system size in Cherry Hills Village 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.
The actual price you pay can be higher or lower than the average in Cherry Hills Village based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront investment in solar power is worth paying. On average Cherry Hills Village homeowners see about $20,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar company in Cherry Hills Village for a personalized quote.
Solar savings over time in Cherry Hills Village
| Year | Return on Investment |
|---|---|
| 1 years | $-9,545 |
| 3 years | $-9,368 |
| 5 years | $-9,192 |
| 7 years | $-9,015 |
| 9 years | $-8,839 |
| 11 years | $-8,663 |
| 13 years | $-8,486 |
| 15 years | $-8,310 |
| 17 years | $-8,134 |
| 19 years | $-7,957 |
| 21 years | $-7,781 |
| 23 years | $-7,605 |
| 25 years | $-7,428 |
Top Solar Installers in Cherry Hills Village
Putting up solar panels yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Cherry Hills Village:
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 Cherry Hills Village
Factors that Affect Solar Panel Costs in Cherry Hills Village
Cost is usually 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 Cherry Hills Village: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Cherry Hills Village. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Cherry Hills Village, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. 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 Cherry Hills Village to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you want plays a role in which installer you should choose, since different companies provide different panels.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Installation Process: When making the switch to solar, it's essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Cherry Hills Village, CO Solar Cost FAQs
How much does it cost to install solar panels in Cherry Hills Village?
The average cost of solar panels in Cherry Hills Village is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Does Cherry Hills Village have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.