Solar Panel Cost Guide in Florence, CO (Mar 2023)
- Florence Solar Installation Cost: $9,490
- 25-Year Savings: $27,518
- Payback Period: 6.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Florence
We go over average solar pricing in Florence.
The national average cost of solar panels is $2.66 per watt, but in Florence it's 2.69 per watt. The average Florence homeowner needs a 5.0-kilowatt system, which would cost about $9,490 with the federal tax credit, or $13,571 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. Despite the significant initial cost, the average Florence homeowner can save around $28,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a highly rated solar installer in Florence for a customized quote.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-8,010 |
| 3 years | $-5,049 |
| 5 years | $-2,089 |
| 7 years | $872 |
| 9 years | $3,833 |
| 11 years | $6,793 |
| 13 years | $9,754 |
| 15 years | $12,715 |
| 17 years | $15,675 |
| 19 years | $18,636 |
| 21 years | $21,597 |
| 23 years | $24,557 |
| 25 years | $27,518 |
Top Solar Installers in Florence
Installing solar panels by yourself can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your family.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Florence
Factors that Affect Solar Panel Costs in Florence
The cost of installing a solar system in Florence can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Florence, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Florence have solar loans, which reduce the initial cost of installing solar. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can play a part in determining how much you pay. Florence's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $2.80 | $11,750 | $32,288 | 6.7 years |
| 8 kW | $2.74 | $15,365 | $43,352 | 6.5 years |
| 10 kW | $2.69 | $18,830 | $54,567 | 6.4 years |
| 12 kW | $2.64 | $22,144 | $65,932 | 6.3 years |
| 14 kW | $2.58 | $25,308 | $77,448 | 6.2 years |
| 16 kW | $2.53 | $28,320 | $89,114 | 6.0 years |
| 18 kW | $2.47 | $31,182 | $100,931 | 5.9 years |
| 20 kW | $2.42 | $33,894 | $112,899 | 5.8 years |
How to Save on Solar Panels
There are a large number of companies available in Florence, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar installers 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 choose.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
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 Florence, CO Solar Cost FAQs
How much does it cost to install solar panels in Florence?
This is a tough question to answer precisely, 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for 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.
Does Florence have a net metering program?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Florence?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.
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.