Solar Panel Cost Guide in Edwards, CO (2023 Update)
- Edwards Solar Installation Cost: $9,959
- 25-Year Savings: $15,284
- Payback Period: 9.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Edwards
Find out what the average cost of solar panels are in Edwards.
The national average cost of solar panels is $2.66 per watt, but in Edwards it's 2.69 per watt. The average Edwards homeowner needs a 5.3-kilowatt system, which would cost about $9,961 with the federal tax credit, or $14,244 before the 30% tax credit is applied.
The true cost of your system can be above or below the average in Edwards based on a few factors, such as the type of solar panels you choose and the solar installer you hire. Even with the significant initial cost, the average Edwards homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar installer in Edwards that can help you get a more accurate cost estimate for your home.
Solar savings over time in Edwards
| Year | Return on Investment |
|---|---|
| 1 years | $-9,875 |
| 3 years | $-9,706 |
| 5 years | $-9,538 |
| 7 years | $-9,370 |
| 9 years | $-9,202 |
| 11 years | $-9,033 |
| 13 years | $-8,865 |
| 15 years | $-8,697 |
| 17 years | $-8,529 |
| 19 years | $-8,360 |
| 21 years | $-8,192 |
| 23 years | $-8,024 |
| 25 years | $-7,855 |
Top Solar Installers in Edwards
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make switching to solar power much easier. The expertise that solar installers provide can be invaluable as well, especially if you don't quite know what type of solar equipment would be right for your home.
If you're searching for a solar company in Edwards, the EcoWatch team has 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 Edwards
Factors that Affect Solar Panel Costs in Edwards
The cost of installing a solar system in Edwards can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,690. The model of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is 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 researching a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Edwards offer solar loans, which reduce the initial cost of installing solar panels. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only 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 APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $16,887 | 10.3 years |
| 8 kW | $2.74 | $15,365 | $22,817 | 10.1 years |
| 10 kW | $2.69 | $18,830 | $28,898 | 9.9 years |
| 12 kW | $2.64 | $22,144 | $35,129 | 9.7 years |
| 14 kW | $2.58 | $25,308 | $41,511 | 9.5 years |
| 16 kW | $2.53 | $28,320 | $48,044 | 9.3 years |
| 18 kW | $2.47 | $31,182 | $54,727 | 9.1 years |
| 20 kW | $2.42 | $33,894 | $61,561 | 8.9 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which company you should opt for, since different companies provide different panels.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Edwards, CO Solar Cost FAQs
How much does it cost to install solar panels in Edwards?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Edwards?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.