Solar Panel Cost Guide in Craig, CO (Sep 2022)

  • Craig Solar Installation Cost: $9,660
  • 25-Year Savings: $18,319
  • Payback Period: 8.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Craig

We go over average solar pricing in Craig.

Although the national average of solar panels is $2.66 per watt, solar panels in Craig typically cost around $3. Using this figure, a typical 5.1 would cost about $9,660 before the 30% federal solar tax credit is applied.

How much you pay can go higher or lower than the average in Craig depending on a few factors, such as the type of solar panels you choose and the solar contractor you hire. With average savings of about $21,000 on utility bills over 20 years, many homeowners in Craig find investing in solar can be quite rewarding.

For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Craig

Year Return on Investment
1 years $-8,541
3 years $-6,302
5 years $-4,064
7 years $-1,826
9 years $413
11 years $2,651
13 years $4,889
15 years $7,128
17 years $9,366
19 years $11,604
21 years $13,843
23 years $16,081
25 years $18,319

Top Solar Installers in Craig

Trying to install solar panels on your own can be a difficult project, which is why getting a solar installation company is a good option for many homeowners. Some solar installers, particularly local ones, can help you make the most of incentives in Craig, thereby optimizing your ROI.

Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Craig

Factors that Affect Solar Panel Costs in Craig

For many Craig homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Craig, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

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 consumes, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Craig. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Craig, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

The solar panel installation company you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.

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 $20,953 9.0 years
8 kW $2.74 $15,365 $28,239 8.8 years
10 kW $2.69 $18,830 $35,676 8.6 years
12 kW $2.64 $22,144 $43,263 8.5 years
14 kW $2.58 $25,308 $51,000 8.3 years
16 kW $2.53 $28,320 $58,888 8.1 years
18 kW $2.47 $31,182 $66,927 7.9 years
20 kW $2.42 $33,894 $75,117 7.8 years

Solar Incentives in Craig

Name Property Tax Exemption for Residential Renewable Energy Equipment
Website Visit here
More Info Click here

Name Sales and Use Tax Exemption for Renewable Energy Equipment
Incentive Amount 100%
Website Visit here
More Info Click here

Name Eagle County - Energy Smart Colorado Renewable Energy Rebate Program
Website Visit here
More Info Click here

Name City of Boulder - Solar Sales and Use Tax Rebate
Website Visit here
More Info Click here

Name Roaring Fork Valley - Energy Smart Colorado Renewable Energy Rebate Program
Website Visit here
More Info Click here

Name Property Tax Exemption for Community Solar Gardens
Website Visit here
More Info Click here

Name Local Option - Sales and Use Tax Exemption for Renewable Energy Systems
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Efficiency Works - Residential Energy Efficiency Rebate Program (Offered by 4 Utilities)
Website Visit here
More Info Click here

Name Residential Energy Upgrade (RENU) Loan Program
Incentive Amount $35,000
Website Visit here
More Info Click here

Name Green Colorado Credit Reserve
Incentive Amount $250,000
Website Visit here
More Info Click here

Name Eagle, Garfield, Gunnison, Lake, and Pitkin Counties - Energy Smart Colorado Loan Program
Incentive Amount $25,000
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a large number of companies available in Craig, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:

  • Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Craig, CO Solar Cost FAQs

What is the average cost of installing solar panels in Craig?

The average cost of solar panels in Craig 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider aside from cost when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can you sell solar power back to the grid in Craig?

Most states offer net metering programs of some kind. Through these, you can be compensated 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.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.

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