Solar Panel Cost Guide in Dove Valley, CO (2023 Update)
- Dove Valley Solar Installation Cost: $9,633
- 25-Year Savings: $17,802
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Dove Valley
Find out what the average cost of installing solar panels is in Dove Valley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Dove Valley, the average cost of a solar system is 2.69 per watt. Because a 5.1-kW system is needed to cover the energy needs of a typical home in Dove Valley, the average price of going solar will be about $9,641 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Dove Valley homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar panels is worth paying. On average Dove Valley homeowners see about $20,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Dove Valley that can help you get a more accurate cost estimate for your home.
Solar savings over time in Dove Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,665 |
| 3 years | $-6,728 |
| 5 years | $-4,792 |
| 7 years | $-2,856 |
| 9 years | $-920 |
| 11 years | $1,016 |
| 13 years | $2,953 |
| 15 years | $4,889 |
| 17 years | $6,825 |
| 19 years | $8,761 |
| 21 years | $10,698 |
| 23 years | $12,634 |
| 25 years | $14,570 |
Top Solar Installers in Dove Valley
Although you can install solar panels on your own, it takes extra energy and knowledge. For that reason, most homeowners choose to hire a solar panel installer. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're searching for a solar company in Dove Valley, we've compiled 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 Dove Valley
Factors that Affect Solar Panel Costs in Dove Valley
For many Dove Valley homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Dove Valley, 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
When it comes to estimating the price of solar panels in Dove Valley, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Dove Valley, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to include 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can play a role in determining how much you pay. Dove Valley's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Dove Valley have more knowledge about local solar incentives and can help you learn about 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 help you save 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 | $20,427 | 9.1 years |
| 8 kW | $2.74 | $15,365 | $27,537 | 9.0 years |
| 10 kW | $2.69 | $18,830 | $34,798 | 8.8 years |
| 12 kW | $2.64 | $22,144 | $42,210 | 8.6 years |
| 14 kW | $2.58 | $25,308 | $49,772 | 8.4 years |
| 16 kW | $2.53 | $28,320 | $57,485 | 8.3 years |
| 18 kW | $2.47 | $31,182 | $65,348 | 8.1 years |
| 20 kW | $2.42 | $33,894 | $73,362 | 7.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: When making the switch to solar energy, it's important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Dove Valley, CO Solar Cost FAQs
What is the average cost of installing solar panels in Dove Valley?
The average cost of solar panels in Dove Valley is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Dove Valley?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 bang for your buck from going solar.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Dove Valley is currently $483,944, which means you can expect a value of about $19,842 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Dove Valley is a fruitful investment.
How often do you have to replace solar panels?
Even though 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 their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.