Solar Panel Cost Guide in Colorado Springs, CO (2024 Update)
- Colorado Springs Solar Installation Cost: $13,979
- 25-Year Savings: $21,423
- Payback Period: 11.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Colorado Springs
We break down average solar pricing in Colorado Springs.
In Colorado Springs, solar panels cost about 4 per watt on average.Because a 5.0-kW system is needed to cover the energy consumption of a typical home in Colorado Springs, the average price of going solar will be about $13,979 after claiming the federal solar tax credit of 0.
The true cost of your system can go higher or lower than the average in Colorado Springs based on several factors, such as the kind of solar panels you choose and the solar contractor you hire.With typical savings of about $23,000 on power bills over 20 years, many homeowners in Colorado Springs find going solar has a decent ROI.
To receive a free estimate from a top solar installation company in Colorado Springs, you can click the button below.
Solar savings over time in Colorado Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-12,849 |
| 3 years | $-10,588 |
| 5 years | $-8,326 |
| 7 years | $-6,065 |
| 9 years | $-3,804 |
| 11 years | $-1,542 |
| 13 years | $719 |
| 15 years | $2,980 |
| 17 years | $5,241 |
| 19 years | $7,503 |
| 21 years | $9,764 |
| 23 years | $12,025 |
| 25 years | $14,286 |
Top Solar Installers in Colorado Springs
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. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our recommendations for providers near you:
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 Colorado Springs
Factors that Affect Solar Panel Costs in Colorado Springs
For many Colorado Springs homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Colorado Springs, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,980 per kilowatt in Colorado Springs.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Colorado Springs average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Colorado Springs homeowners choose to finance their solar panel systems to make going solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can affect your pricing. Colorado Springs’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across 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 | $19,530 | 11.8 years |
| 8 kW | $4.06 | $22,734 | $26,486 | 11.5 years |
| 10 kW | $3.98 | $27,860 | $33,664 | 11.3 years |
| 12 kW | $3.90 | $32,763 | $41,066 | 11.1 years |
| 14 kW | $3.82 | $37,444 | $48,690 | 10.9 years |
| 16 kW | $3.74 | $41,901 | $56,538 | 10.6 years |
| 18 kW | $3.66 | $46,136 | $64,608 | 10.4 years |
| 20 kW | $3.58 | $50,148 | $72,901 | 10.2 years |
How to Save on Solar Panels
There are numerous companies available in Colorado Springs, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
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 Colorado Springs, CO Solar Cost FAQs
How much does it cost to install solar panels in Colorado Springs?
The average cost of solar panels in Colorado Springs 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 consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Colorado Springs?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.