Solar Panel Cost Guide in Edgewater, CO (Mar 2023)
- Edgewater Solar Installation Cost: $9,886
- 25-Year Savings: $15,586
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Edgewater
Let's take a look at the average cost of solar panels in Edgewater.
The national average cost of solar panels is $2.66 per watt, but in Edgewater it's 2.69 per watt. Using this figure, a typical 5.2-kW system would cost about $9,886 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Edgewater homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $18,000 on power bills over 20 years, many homeowners in Edgewater find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Edgewater that can help you get a more accurate cost estimate for your home.
Solar savings over time in Edgewater
| Year | Return on Investment |
|---|---|
| 1 years | $-8,867 |
| 3 years | $-6,829 |
| 5 years | $-4,791 |
| 7 years | $-2,754 |
| 9 years | $-716 |
| 11 years | $1,322 |
| 13 years | $3,360 |
| 15 years | $5,397 |
| 17 years | $7,435 |
| 19 years | $9,473 |
| 21 years | $11,511 |
| 23 years | $13,548 |
| 25 years | $15,586 |
Top Solar Installers in Edgewater
When switching to solar energy, many homeowners choose to hire a solar company since handling can be a difficult project. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for your family.
You can get a free quote from a local solar installer on how much solar panels 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 (coming 2022)
Best Technology
Tesla Energy
- 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 Edgewater
Factors that Affect Solar Panel Costs in Edgewater
Even though the average cost of a solar system in Edgewater is $9,886, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
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 average energy use. The kind of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Edgewater to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $17,370 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,461 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,703 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $36,095 | 9.5 years |
| 14 kW | $2.58 | $25,308 | $42,638 | 9.3 years |
| 16 kW | $2.53 | $28,320 | $49,332 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,176 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,171 | 8.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which installer you should go with, since different companies offer different panels.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Edgewater, CO Solar Cost FAQs
What is the average cost of installing solar panels in Edgewater?
This is a hard question to answer precisely, because the cost depends on a variety of 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 needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Edgewater?
You can't get solar panels for free in Edgewater. 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 prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Edgewater, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.