Solar Panel Cost Guide in Edwards, CO (2024 Update)
- Edwards Solar Installation Cost: $14,735
- 25-Year Savings: $15,284
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Edwards
We break down average solar pricing in Edwards.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Edwards, the average cost of solar panels is 4 per watt.Using this figure, a typical 5.3-kW system would cost about $14,735 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted 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 | $-13,767 |
| 3 years | $-11,830 |
| 5 years | $-9,894 |
| 7 years | $-7,958 |
| 9 years | $-6,022 |
| 11 years | $-4,086 |
| 13 years | $-2,149 |
| 15 years | $-213 |
| 17 years | $1,723 |
| 19 years | $3,659 |
| 21 years | $5,596 |
| 23 years | $7,532 |
| 25 years | $9,468 |
Top Solar Installers in Edwards
Many homeowners decide to hire a solar installation company since figuring out how to install solar panels on your own can be a lot of work. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 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 determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need, 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 nearly $3,980. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Edwards, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.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
The solar panel installer you select will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Edwards 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 end up saving you 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 | $4.14 | $17,385 | $11,252 | 15.2 years |
| 8 kW | $4.06 | $22,734 | $15,448 | 14.9 years |
| 10 kW | $3.98 | $27,860 | $19,868 | 14.6 years |
| 12 kW | $3.90 | $32,763 | $24,510 | 14.3 years |
| 14 kW | $3.82 | $37,444 | $29,375 | 14.0 years |
| 16 kW | $3.74 | $41,901 | $34,463 | 13.7 years |
| 18 kW | $3.66 | $46,136 | $39,774 | 13.4 years |
| 20 kW | $3.58 | $50,148 | $45,307 | 13.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips 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 brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Warranty: If you care about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Edwards, CO Solar Cost FAQs
What is the average cost of installing solar panels in Edwards?
This is a hard question to answer exactly, 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Edwards is currently $1,870,564, so you could be looking at a value of about $76,693 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Edwards is a fruitful investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.