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 panel system in Edgewater is 4 per watt.Using this figure, a typical 5.2-kW system would cost about $14,622 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more.With average savings of about $18,000 on power bills over 20 years, many homeowners in Edgewater find investing in solar can be quite rewarding.
Click the button below to get connected to a highly rated solar panel company in Edgewater for a customized quote.
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
When switching to solar energy, many homeowners decide to hire a solar installation company since installing solar panels yourself can be a time-consuming project. The payback period of solar panels will vary based on factors like your roof configuration and energy use, but working with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
Although the average cost of a solar system in Edgewater is $14,622, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 spend around $3,980 per kilowatt in Edgewater.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 opt to finance their solar panel systems to make going solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
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 hire to install your solar system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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
The company that does your solar 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:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which type 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 ask for their list of offerings before deciding.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
What is the average cost of installing solar panels in Edgewater?
The average cost of solar panels in Edgewater is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model 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 Edgewater?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to 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 savings from going solar.
Does Edgewater have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity 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?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.