Solar Panel Cost Guide in Englewood, CO (2023 Update)
- Englewood Solar Installation Cost: $9,641
- 25-Year Savings: $16,952
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Englewood
We go over average solar pricing in Englewood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Englewood, the average cost of a solar system is 2.69 per watt. The average solar panel system size in Englewood is around 5.1 kilowatts, meaning a cost of about $9,641 for a solar installation, or $13,787 before the 30% federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Englewood based on a variety of factors, such as the type of solar panels you choose and the solar company you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $20,000 over 20 years on electricity bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Englewood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,577 |
| 3 years | $-6,450 |
| 5 years | $-4,322 |
| 7 years | $-2,195 |
| 9 years | $-67 |
| 11 years | $2,060 |
| 13 years | $4,188 |
| 15 years | $6,315 |
| 17 years | $8,442 |
| 19 years | $10,570 |
| 21 years | $12,697 |
| 23 years | $14,825 |
| 25 years | $16,952 |
Top Solar Installers in Englewood
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make your switch to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Englewood
Factors that Affect Solar Panel Costs in Englewood
There are a number of criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use 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 $2,690. The model of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Englewood, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fits within 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 | $19,441 | 9.4 years |
| 8 kW | $2.74 | $15,365 | $26,222 | 9.2 years |
| 10 kW | $2.69 | $18,830 | $33,154 | 9.1 years |
| 12 kW | $2.64 | $22,144 | $40,237 | 8.9 years |
| 14 kW | $2.58 | $25,308 | $47,470 | 8.7 years |
| 16 kW | $2.53 | $28,320 | $54,854 | 8.5 years |
| 18 kW | $2.47 | $31,182 | $62,389 | 8.3 years |
| 20 kW | $2.42 | $33,894 | $70,074 | 8.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: If you're worried about the durability of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Englewood, CO Solar Cost FAQs
What is the average cost of installing solar panels in Englewood?
This is a hard question to answer exactly, because the cost depends on a few different 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 other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Englewood?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does Englewood have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.