Solar Panel Cost Guide in Greenwood Village, CO (2024 Update)

  • Greenwood Village Solar Installation Cost: $14,252
  • 25-Year Savings: $17,147
  • Payback Period: 13.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Greenwood Village

Let’s take a look at the average cost of solar in Greenwood Village.

While the national average of solar panels is $2.66 per watt, solar panels in Greenwood Village generally cost around 4.The average Greenwood Village homeowner needs a 5.1-kilowatt system, which would cost about $14,252 with the federal tax credit, or $20,380 before the 0 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 installing solar panels can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $20,000 over 20 years on power bills.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Greenwood Village

Year Return on Investment
1 years $-13,284
3 years $-11,348
5 years $-9,412
7 years $-7,475
9 years $-5,539
11 years $-3,603
13 years $-1,667
15 years $270
17 years $2,206
19 years $4,142
21 years $6,078
23 years $8,014
25 years $9,951

Top Solar Installers in Greenwood Village

Many homeowners opt for a solar panel company since installing solar panels by yourself can be a labor-intensive endeavor. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.

If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Greenwood Village

Factors that Affect Solar Panel Costs in Greenwood Village

For many Greenwood Village homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Greenwood Village, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar system in Greenwood Village, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,980 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down 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 over time on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Greenwood Village average.

Solar Financing Terms

Many homeowners find the average cost of solar in Greenwood Village to be too costly, even if the investment pays off over time. Thankfully, almost every solar company 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.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The solar company you select will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Greenwood Village have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $14,025 13.8 years
8 kW $4.06 $22,734 $19,146 13.6 years
10 kW $3.98 $27,860 $24,489 13.3 years
12 kW $3.90 $32,763 $30,056 13.0 years
14 kW $3.82 $37,444 $35,845 12.8 years
16 kW $3.74 $41,901 $41,858 12.5 years
18 kW $3.66 $46,136 $48,093 12.2 years
20 kW $3.58 $50,148 $54,551 12.0 years

How to Save on Solar Panels

There are many companies to choose from in Greenwood Village, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:

  • 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 likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While 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 make sure you ask for their list of options before making your decision.
  • Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
  • 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.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Greenwood Village, CO Solar Cost FAQs

What is the average cost of installing solar panels in Greenwood Village?

This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $19,900 for a 5-kW system and $39,800 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 opt for a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Greenwood Village?

You can’t get solar panels for free in Greenwood Village. 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 the value of your property by about 4%, according to research done by Zillow. The average home value in Greenwood Village is currently $1,343,759, which means you can look forward to a value of about $55,094 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Greenwood Village is a fruitful investment.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.

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.

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