Solar Panel Cost Guide in Edgewater, CO (2024 Update)
- Edgewater Solar Installation Cost: $14,622
- 25-Year Savings: $15,589
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Edgewater
Here’s how much it might cost to go solar in Edgewater.
The average cost of a solar system in Edgewater is 4 per watt.Because a 5.2-kW system is needed to cover the energy costs of a typical home in Edgewater, the average price of going solar will be about $14,622 after claiming the federal solar tax credit of 0.
The true cost of your system can be higher or lower than the average in Edgewater based on several factors, such as the model of solar panels you choose and the solar contractor you hire.Even with the high upfront cost, the average Edgewater homeowner can save around $18,000 on their power bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Edgewater
Year | Return on Investment |
---|---|
1 years | $-13,654 |
3 years | $-11,718 |
5 years | $-9,781 |
7 years | $-7,845 |
9 years | $-5,909 |
11 years | $-3,973 |
13 years | $-2,037 |
15 years | $-100 |
17 years | $1,836 |
19 years | $3,772 |
21 years | $5,708 |
23 years | $7,645 |
25 years | $9,581 |
Top Solar Installers in Edgewater
Although it's possible to install solar panels yourself, it takes extra labor and know-how. Because of that, most people choose to hire a solar panel installer. Another upside of using a solar installer is that they can help you maximize your ROI by bringing down your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Edgewater
Factors that Affect Solar Panel Costs in Edgewater
The cost of installing a solar system in Edgewater can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Edgewater, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $3,980 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Edgewater homeowners choose to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Edgewater is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that provide a range of services for different budgets.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better 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 promotion can bring their pricing down 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 | $4.14 | $17,385 | $11,735 | 14.9 years |
8 kW | $4.06 | $22,734 | $16,092 | 14.6 years |
10 kW | $3.98 | $27,860 | $20,673 | 14.4 years |
12 kW | $3.90 | $32,763 | $25,476 | 14.1 years |
14 kW | $3.82 | $37,444 | $30,502 | 13.8 years |
16 kW | $3.74 | $41,901 | $35,751 | 13.5 years |
18 kW | $3.66 | $46,136 | $41,222 | 13.2 years |
20 kW | $3.58 | $50,148 | $46,917 | 12.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the completion timeline.
- Warranty: Companies typically offer different types 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Edgewater, CO Solar Cost FAQs
How much does it cost to install solar panels in Edgewater?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $19,900 for a 5-kW system and $39,800 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 usage. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Edgewater?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Edgewater?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces 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.
How long do solar panels last in Edgewater?
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.