Solar Panel Cost Guide in Florence, CO (2024 Update)
- Florence Solar Installation Cost: $14,048
- 25-Year Savings: $27,514
- Payback Period: 9.5 Years
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Average Cost of Solar Panels in Florence
We break down average solar pricing in Florence.
The average cost of a solar system in Florence is 4 per watt.The average Florence homeowner needs a 5.0-kilowatt system, which would cost about $14,048 with the federal tax credit, or $20,089 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Florence homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $28,000 on energy bills over 20 years, many homeowners in Florence find going solar can pay off big.
You can click the button below to get connected with a vetted solar installer in Florence that can help you get a more accurate cost estimate for your home.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-12,662 |
| 3 years | $-9,891 |
| 5 years | $-7,120 |
| 7 years | $-4,349 |
| 9 years | $-1,578 |
| 11 years | $1,193 |
| 13 years | $3,964 |
| 15 years | $6,735 |
| 17 years | $9,506 |
| 19 years | $12,277 |
| 21 years | $15,048 |
| 23 years | $17,819 |
| 25 years | $20,590 |
Top Solar Installers in Florence
When making the switch to solar, many homeowners opt to use a solar installer since handling can be a time-consuming project. Plus, if you’d like to maximize your investment in solar power, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
Working with a licensed solar installer 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
See all of the solar companies in Florence
Factors that Affect Solar Panel Costs in Florence
Though the average cost of a solar system in Florence is $14,048, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Florence average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Florence homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your total costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Florence is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that offer a range of services at different costs.Additionally, some companies in Florence know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $26,653 | 9.9 years |
| 8 kW | $4.06 | $22,734 | $35,983 | 9.7 years |
| 10 kW | $3.98 | $27,860 | $45,537 | 9.5 years |
| 12 kW | $3.90 | $32,763 | $55,312 | 9.3 years |
| 14 kW | $3.82 | $37,444 | $65,311 | 9.1 years |
| 16 kW | $3.74 | $41,901 | $75,533 | 8.9 years |
| 18 kW | $3.66 | $46,136 | $85,978 | 8.7 years |
| 20 kW | $3.58 | $50,148 | $96,645 | 8.5 years |
How to Save on Solar Panels
There are many companies available in Florence, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
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
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
EcoWatch's Florence, CO Solar Cost FAQs
How much does it cost to install solar panels in Florence?
The average cost of solar panels in Florence 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 kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Florence?
You can’t get solar panels for free in Florence. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.