Solar Panel Cost Guide in Edwards, CO (Mar 2023)
- Edwards Solar Installation Cost: $9,961
- 25-Year Savings: $15,281
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Edwards
Here's how much it might cost to go solar in Edwards.
In Edwards, solar panels cost about 2.69 per watt on average. 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 prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what company you go with. But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on electricity bills.
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 | $-8,951 |
| 3 years | $-6,932 |
| 5 years | $-4,913 |
| 7 years | $-2,893 |
| 9 years | $-874 |
| 11 years | $1,146 |
| 13 years | $3,165 |
| 15 years | $5,184 |
| 17 years | $7,204 |
| 19 years | $9,223 |
| 21 years | $11,243 |
| 23 years | $13,262 |
| 25 years | $15,281 |
Top Solar Installers in Edwards
Although you can install solar panels yourself, it takes extra energy and handiness. Because of that, the majority of homeowners choose to go with a solar panel installer. The expertise that solar installers provide can be invaluable as well, particularly if you don't quite know what type of solar equipment you need.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Edwards
Factors that Affect Solar Panel Costs in Edwards
Even though the average cost of a solar system in Edwards is $9,961, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Edwards, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $2,690 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Though solar loans make switching to solar energy more accessible for Edwards homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect your pricing. Edwards' solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.
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 panel company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Edwards, CO Solar Cost FAQs
What is the average cost of installing solar panels in Edwards?
The average cost of solar panels in Edwards is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power 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 take a 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 buy between 20 and 35 panels to cover 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.