Solar Panel Cost Guide in Craig, CO (2023 Update)
- Craig Solar Installation Cost: $9,660
- 25-Year Savings: $18,319
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Craig
We go over average solar pricing in Craig.
The national average cost of solar panels is $2.66 per watt, but in Craig it's 2.69 per watt. Since a 5.1-kW system is needed to cover the energy needs of a typical home in Craig, the average price of going solar will be about $9,660 after claiming the federal solar tax credit of 30%.
These figures are just averages, and your own solar costs will most likely differ based on factors unique to your home and what company you go with. With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Craig find going solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar installer, 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
Although you can install solar panels yourself, it involves extra energy and handiness. For that reason, most people choose a solar panel installer. Also, if you'd like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Craig
Factors that Affect Solar Panel Costs in Craig
Although the average cost of a solar system in Craig is $9,660, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Craig, 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
Most solar companies in Craig provide solar loans, which reduce your upfront costs of installing a solar system. It's wise to factor 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 installer you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Craig, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, 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 | $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 |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Craig, CO Solar Cost FAQs
What is the average cost of installing solar panels in Craig?
This is a tough question to answer exactly, because the cost depends on many factors. Generally 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Craig?
You can't get solar panels for free in Craig. 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 rather own your solar panels, you can finance them with a solar loan.
Does Craig have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 install 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.