Solar Panel Cost Guide in Greeley, CO (Mar 2023)
- Greeley Solar Installation Cost: $9,867
- 25-Year Savings: $16,799
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Greeley
Let's have a look at the average cost of solar panels in Greeley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Greeley, the typical cost of solar panels is 2.69 per watt. Since a 5.2-kW system is needed to cover the energy consumption of a typical home in Greeley, the average price of going solar will be about $9,867 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Greeley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,800 |
| 3 years | $-6,667 |
| 5 years | $-4,534 |
| 7 years | $-2,401 |
| 9 years | $-267 |
| 11 years | $1,866 |
| 13 years | $3,999 |
| 15 years | $6,133 |
| 17 years | $8,266 |
| 19 years | $10,399 |
| 21 years | $12,532 |
| 23 years | $14,666 |
| 25 years | $16,799 |
Top Solar Installers in Greeley
When making the switch to solar, many homeowners decide to go with a solar company since putting up solar panels yourself can be a challenging project. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for your family.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Greeley:
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 Greeley
Factors that Affect Solar Panel Costs in Greeley
The cost of installing a solar system in Greeley can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
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 about $2,690. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Greeley to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Greeley is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services at different price points. Additionally, some companies in Greeley 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 | $2.80 | $11,750 | $18,763 | 9.6 years |
| 8 kW | $2.74 | $15,365 | $25,319 | 9.4 years |
| 10 kW | $2.69 | $18,830 | $32,025 | 9.3 years |
| 12 kW | $2.64 | $22,144 | $38,882 | 9.1 years |
| 14 kW | $2.58 | $25,308 | $45,890 | 8.9 years |
| 16 kW | $2.53 | $28,320 | $53,048 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $60,357 | 8.5 years |
| 20 kW | $2.42 | $33,894 | $67,817 | 8.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 Greeley, CO Solar Cost FAQs
How much does it cost to install solar panels in Greeley?
The average cost of solar panels in Greeley is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Greeley?
You can't get solar panels for free in Greeley. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.