Solar Panel Cost Guide in Fort Collins, CO (2023 Update)
- Fort Collins Solar Installation Cost: $10,168
- 25-Year Savings: $14,990
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fort Collins
Let's have a look at the average cost of solar in Fort Collins.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fort Collins, the typical cost of a solar system is 2.69 per watt. Because a 5.4-kW system is needed to cover the energy usage of a typical home in Fort Collins, the average price of going solar will be about $10,168 after claiming the federal solar tax credit of 30%.
The true cost of your system can be above or below the average in Fort Collins depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. Despite the large upfront cost, the average Fort Collins homeowner can save around $18,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar panel company in Fort Collins for a personalized quote.
Solar savings over time in Fort Collins
| Year | Return on Investment |
|---|---|
| 1 years | $-9,162 |
| 3 years | $-7,149 |
| 5 years | $-5,137 |
| 7 years | $-3,124 |
| 9 years | $-1,111 |
| 11 years | $901 |
| 13 years | $2,914 |
| 15 years | $4,927 |
| 17 years | $6,939 |
| 19 years | $8,952 |
| 21 years | $10,965 |
| 23 years | $12,977 |
| 25 years | $14,990 |
Top Solar Installers in Fort Collins
Many homeowners decide to hire a solar panel company since trying to put up solar panels yourself can be a lot of work. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers near you:
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 Fort Collins
Factors that Affect Solar Panel Costs in Fort Collins
There are many criteria that can affect your solar panel 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
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Fort Collins. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you want to install 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Fort Collins, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. 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 principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Fort Collins is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that provide a range of services at different costs. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $16,200 | 10.5 years |
| 8 kW | $2.74 | $15,365 | $21,902 | 10.3 years |
| 10 kW | $2.69 | $18,830 | $27,754 | 10.1 years |
| 12 kW | $2.64 | $22,144 | $33,756 | 9.9 years |
| 14 kW | $2.58 | $25,308 | $39,910 | 9.7 years |
| 16 kW | $2.53 | $28,320 | $46,214 | 9.5 years |
| 18 kW | $2.47 | $31,182 | $52,668 | 9.3 years |
| 20 kW | $2.42 | $33,894 | $59,273 | 9.1 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Fort Collins, CO Solar Cost FAQs
How much does it cost to install solar panels in Fort Collins?
The average cost of solar panels in Fort Collins is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Fort Collins?
Leasing solar panels can be an attractive choice, because it often 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Fort Collins have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 home 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.