Solar Panel Cost Guide in Gunbarrel, CO (2023 Update)
- Gunbarrel Solar Installation Cost: $9,957
- 25-Year Savings: $16,100
- Payback Period: 9.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gunbarrel
We go over average solar pricing in Gunbarrel.
While the national average of solar panels is $2.66 per watt, solar panels in Gunbarrel typically cost about 2.69. Since a 5.3-kW system is needed to cover the energy costs of a typical home in Gunbarrel, the average price of going solar will be about $9,961 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and the cost of going solar for you will differ based on your energy needs and what company you want to go with. With average savings of about $19,000 on utility bills over 20 years, many homeowners in Gunbarrel find investing in solar can be quite rewarding.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Gunbarrel
| Year | Return on Investment |
|---|---|
| 1 years | $-9,870 |
| 3 years | $-9,696 |
| 5 years | $-9,522 |
| 7 years | $-9,349 |
| 9 years | $-9,175 |
| 11 years | $-9,001 |
| 13 years | $-8,828 |
| 15 years | $-8,654 |
| 17 years | $-8,480 |
| 19 years | $-8,306 |
| 21 years | $-8,133 |
| 23 years | $-7,959 |
| 25 years | $-7,785 |
Top Solar Installers in Gunbarrel
Trying to install solar panels by yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy consumption, but working with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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 Gunbarrel
Factors that Affect Solar Panel Costs in Gunbarrel
For many Gunbarrel homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Gunbarrel, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Gunbarrel to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can play a part in determining your pricing. Gunbarrel's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Gunbarrel are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $2.80 | $11,750 | $17,817 | 9.9 years |
| 8 kW | $2.74 | $15,365 | $24,057 | 9.7 years |
| 10 kW | $2.69 | $18,830 | $30,448 | 9.6 years |
| 12 kW | $2.64 | $22,144 | $36,989 | 9.4 years |
| 14 kW | $2.58 | $25,308 | $43,681 | 9.2 years |
| 16 kW | $2.53 | $28,320 | $50,524 | 9.0 years |
| 18 kW | $2.47 | $31,182 | $57,517 | 8.8 years |
| 20 kW | $2.42 | $33,894 | $64,661 | 8.6 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Gunbarrel, CO Solar Cost FAQs
What is the average cost of installing solar panels in Gunbarrel?
This is a difficult question to answer exactly, 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Gunbarrel?
You can't get solar panels for free in Gunbarrel. 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 prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $985.55 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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 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.