Solar Panel Cost Guide in Edwards, CO (2025 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.
The average cost of a solar panel system in Edwards is 4 per watt.The average Edwards homeowner needs a 5.3-kilowatt system, which would cost about $14,735 with the federal tax credit, or $21,071 before the 0 tax credit is applied.
These figures are just averages, and your own solar costs will most likely vary based on the amount of energy your home requires and what company you go with.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 electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Edwards for a quote 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
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make converting to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company too, which can save you more money after your upfront investment.
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:
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 biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,980.The kind of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
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 totally eliminate, your upfront costs to make solar more affordable.When figuring 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 upfront can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Edwards, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies typically 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 additional services like electric car 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 | $11,252 | 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.
EcoWatch's Edwards, CO Solar Cost FAQs
What is the average cost of installing solar panels in Edwards?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 cost more if you want extra 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 efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
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, which means 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 rewarding investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.