Solar Panel Cost Guide in Evans, CO (Mar 2023)
- Evans Solar Installation Cost: $9,867
- 25-Year Savings: $16,890
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Evans
Find out how much it might cost to install solar panels in Evans.
In Evans, solar panels cost about 2.69 per watt on average. The average Evans homeowner needs a 5.2-kilowatt system, which would cost about $9,867 with the federal tax credit, or $14,110 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary based on several factors, such as what size system you need, your energy consumption and what solar installer you go with. With average savings of about $19,000 on utility bills over 20 years, many homeowners in Evans find installing solar panels can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Evans
| Year | Return on Investment |
|---|---|
| 1 years | $-8,797 |
| 3 years | $-6,656 |
| 5 years | $-4,515 |
| 7 years | $-2,375 |
| 9 years | $-234 |
| 11 years | $1,906 |
| 13 years | $4,047 |
| 15 years | $6,187 |
| 17 years | $8,328 |
| 19 years | $10,469 |
| 21 years | $12,609 |
| 23 years | $14,750 |
| 25 years | $16,890 |
Top Solar Installers in Evans
Although it's possible to install solar panels yourself, it involves extra energy and expertise. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Since solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Evans
Factors that Affect Solar Panel Costs in Evans
The cost of installing a solar system in Evans can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy 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, your total will most likely increase by about $2,690. The model of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, 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 for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Evans provide solar loans, which reduce the initial cost of installing solar panels. Though solar loans make adopting solar energy more accessible for Evans 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect how much you pay. Evans' solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $18,868 | 9.6 years |
| 8 kW | $2.74 | $15,365 | $25,458 | 9.4 years |
| 10 kW | $2.69 | $18,830 | $32,200 | 9.2 years |
| 12 kW | $2.64 | $22,144 | $39,092 | 9.0 years |
| 14 kW | $2.58 | $25,308 | $46,134 | 8.9 years |
| 16 kW | $2.53 | $28,320 | $53,327 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $60,671 | 8.5 years |
| 20 kW | $2.42 | $33,894 | $68,165 | 8.3 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. Since choosing 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 going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should opt for, since different companies provide different panels.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Evans, CO Solar Cost FAQs
What is the average cost of installing solar panels in Evans?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 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 needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Evans?
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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,020.59 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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 install 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.