Solar Panel Cost Guide in Fairmount, CO (2025 Update)
- Fairmount Solar Installation Cost: $14,622
- 25-Year Savings: $16,226
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Fairmount
Find out what the average cost of installing solar panels is in Fairmount.
The national average cost of solar panels is $2.66 per watt, but in Fairmount it’s 4 per watt.The average Fairmount homeowner needs a 5.2-kilowatt system, which would cost about $14,622 with the federal tax credit, or $20,909 before the 0 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 actual cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.With average savings of about $19,000 on utility bills over 20 years, many homeowners in Fairmount find investing in solar has a decent ROI.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Fairmount
| Year | Return on Investment |
|---|---|
| 1 years | $-13,654 |
| 3 years | $-11,718 |
| 5 years | $-9,781 |
| 7 years | $-7,845 |
| 9 years | $-5,909 |
| 11 years | $-3,973 |
| 13 years | $-2,037 |
| 15 years | $-100 |
| 17 years | $1,836 |
| 19 years | $3,772 |
| 21 years | $5,708 |
| 23 years | $7,645 |
| 25 years | $9,581 |
Top Solar Installers in Fairmount
When going solar, many homeowners choose to hire a solar company since handling can be a challenging project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
See all of the solar companies in Fairmount
Factors that Affect Solar Panel Costs in Fairmount
There are several factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar panel system you need, 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 nearly $3,980. There are several different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Fairmount to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Fairmount is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that offer a range of services at different costs.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 cost more. It’s best to do some research and go with the company that offers 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 | $4.14 | $17,385 | $12,463 | 14.6 years |
| 8 kW | $4.06 | $22,734 | $17,063 | 14.3 years |
| 10 kW | $3.98 | $27,860 | $21,885 | 14.0 years |
| 12 kW | $3.90 | $32,763 | $26,931 | 13.7 years |
| 14 kW | $3.82 | $37,444 | $32,200 | 13.4 years |
| 16 kW | $3.74 | $41,901 | $37,691 | 13.2 years |
| 18 kW | $3.66 | $46,136 | $43,405 | 12.9 years |
| 20 kW | $3.58 | $50,148 | $49,343 | 12.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Warranty: If you care about the durability of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
EcoWatch's Fairmount, CO Solar Cost FAQs
What is the average cost of installing solar panels in Fairmount?
The average cost of solar panels in Fairmount 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Fairmount?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 get the most savings.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $994.91 per year.
How long do solar panels last in Fairmount?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.