Solar Panel Cost Guide in Gleneagle, CO (2023 Update)
- Gleneagle Solar Installation Cost: $9,453
- 25-Year Savings: $20,599
- Payback Period: 7.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Gleneagle
Let's have a look at the average cost of solar in Gleneagle.
The national average cost of solar panels is $2.66 per watt, but in Gleneagle it's 2.69 per watt. The average solar panel system size in Gleneagle is around 5.0 kilowatts, meaning a cost of about $9,453 for a solar installation, or $13,518 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. With average savings of about $23,000 on energy bills over 20 years, many homeowners in Gleneagle find investing in solar can be quite rewarding.
To receive a free estimate from a highly rated solar installer in Gleneagle, you can click the button below.
Solar savings over time in Gleneagle
| Year | Return on Investment |
|---|---|
| 1 years | $-8,251 |
| 3 years | $-5,846 |
| 5 years | $-3,442 |
| 7 years | $-1,038 |
| 9 years | $1,366 |
| 11 years | $3,770 |
| 13 years | $6,174 |
| 15 years | $8,579 |
| 17 years | $10,983 |
| 19 years | $13,387 |
| 21 years | $15,791 |
| 23 years | $18,195 |
| 25 years | $20,599 |
Top Solar Installers in Gleneagle
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar company can make your swap to solar power much easier. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our recommendations 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 Gleneagle
Factors that Affect Solar Panel Costs in Gleneagle
For many Gleneagle homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Gleneagle, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,690. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Gleneagle average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Gleneagle homeowners decide to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Gleneagle, and each can charge varying amounts for labor and equipment. 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 come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fit into 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 | $2.80 | $11,750 | $24,184 | 8.2 years |
| 8 kW | $2.74 | $15,365 | $32,547 | 8.0 years |
| 10 kW | $2.69 | $18,830 | $41,061 | 7.9 years |
| 12 kW | $2.64 | $22,144 | $49,725 | 7.7 years |
| 14 kW | $2.58 | $25,308 | $58,539 | 7.5 years |
| 16 kW | $2.53 | $28,320 | $67,505 | 7.4 years |
| 18 kW | $2.47 | $31,182 | $76,621 | 7.2 years |
| 20 kW | $2.42 | $33,894 | $85,887 | 7.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Gleneagle, CO Solar Cost FAQs
How much does it cost to install solar panels in Gleneagle?
This is a hard question to answer precisely, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Gleneagle?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Gleneagle have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation 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 often do you have to replace solar panels?
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 higher 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.
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.