Solar Panel Cost Guide in Englewood, CO (2024 Update)
- Englewood Solar Installation Cost: $14,252
- 25-Year Savings: $16,961
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Englewood
Find out what the average cost of solar panel installation is in Englewood.
The average cost of a solar system in Englewood is 4 per watt.To cover the typical energy needs of the average home in Englewood, most homeowners require a 5.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,252, or $20,380 before the federal solar tax credit of 0 is applied.
These figures are just averages, and how much solar costs for you may vary based on factors unique to your home and what company you go with.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Englewood can save about $20,000 on their electricity bills over 20 years.
To receive a free quote from a highly rated solar company in Englewood, you can click the button below.
Solar savings over time in Englewood
| Year | Return on Investment |
|---|---|
| 1 years | $-13,284 |
| 3 years | $-11,348 |
| 5 years | $-9,412 |
| 7 years | $-7,475 |
| 9 years | $-5,539 |
| 11 years | $-3,603 |
| 13 years | $-1,667 |
| 15 years | $270 |
| 17 years | $2,206 |
| 19 years | $4,142 |
| 21 years | $6,078 |
| 23 years | $8,014 |
| 25 years | $9,951 |
Top Solar Installers in Englewood
Many homeowners decide to use a solar installer since installing solar panels by yourself can be challenging. The payback period on a solar system will vary depending on factors like your location and energy use, but working with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you're looking for a solar company in Englewood, the EcoWatch team has compiled a list of our top suggestions here:
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 Englewood
Factors that Affect Solar Panel Costs in Englewood
For many Englewood homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Englewood, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,980. The model of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment is more than just the solar panels themselves. You’ll also need to think about 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Englewood homeowners choose to finance their solar panel systems to offset upfront costs.Even though solar loans make adopting solar energy more accessible for Englewood homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a part in determining your pricing. Englewood’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with 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 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 | $13,806 | 13.9 years |
| 8 kW | $4.06 | $22,734 | $18,854 | 13.7 years |
| 10 kW | $3.98 | $27,860 | $24,124 | 13.4 years |
| 12 kW | $3.90 | $32,763 | $29,618 | 13.1 years |
| 14 kW | $3.82 | $37,444 | $35,334 | 12.9 years |
| 16 kW | $3.74 | $41,901 | $41,273 | 12.6 years |
| 18 kW | $3.66 | $46,136 | $47,435 | 12.3 years |
| 20 kW | $3.58 | $50,148 | $53,820 | 12.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Englewood, CO Solar Cost FAQs
How much does it cost to install solar panels in Englewood?
The average cost of solar panels in Englewood 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Englewood?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase your property value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.