Solar Panel Cost Guide in Dakota Ridge, CO (2023 Update)
- Dakota Ridge Solar Installation Cost: $9,883
- 25-Year Savings: $17,159
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Dakota Ridge
Find out what the average cost of a solar system is in Dakota Ridge.
The average cost of a solar panel system in Dakota Ridge is 2.69 per watt. The average solar panel system size in Dakota Ridge is around 5.2 kilowatts, meaning a cost of about $9,886 for a solar installation, or $14,137 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Dakota Ridge homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $20,000 in savings on electricity bills over 20 years.
To receive a free quote from a top solar installation company in Dakota Ridge, you can click the button below.
Solar savings over time in Dakota Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-8,915 |
| 3 years | $-6,978 |
| 5 years | $-5,042 |
| 7 years | $-3,106 |
| 9 years | $-1,170 |
| 11 years | $767 |
| 13 years | $2,703 |
| 15 years | $4,639 |
| 17 years | $6,575 |
| 19 years | $8,511 |
| 21 years | $10,448 |
| 23 years | $12,384 |
| 25 years | $14,320 |
Top Solar Installers in Dakota Ridge
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Because solar panels are exposed to the elements every day, 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're searching for a solar installer in Dakota Ridge, the EcoWatch team has put together 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
See all of the solar companies in Dakota Ridge
Factors that Affect Solar Panel Costs in Dakota Ridge
For many Dakota Ridge homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Dakota Ridge, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Dakota Ridge. The type of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Dakota Ridge offer solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Dakota Ridge, and each can charge varying amounts for labor and equipment. Additionally, some companies in Dakota Ridge have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $19,164 | 9.5 years |
| 8 kW | $2.74 | $15,365 | $25,854 | 9.3 years |
| 10 kW | $2.69 | $18,830 | $32,694 | 9.1 years |
| 12 kW | $2.64 | $22,144 | $39,685 | 9.0 years |
| 14 kW | $2.58 | $25,308 | $46,826 | 8.8 years |
| 16 kW | $2.53 | $28,320 | $54,118 | 8.6 years |
| 18 kW | $2.47 | $31,182 | $61,561 | 8.4 years |
| 20 kW | $2.42 | $33,894 | $69,154 | 8.2 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 find the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Dakota Ridge, CO Solar Cost FAQs
What is the average cost of installing solar panels in Dakota Ridge?
This is a hard question to answer precisely, because the cost depends on a few different 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Dakota Ridge?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Dakota Ridge?
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 larger 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.