Solar Panel Cost Guide in Gunbarrel, CO (2023 Update)
- Gunbarrel Solar Installation Cost: $9,961
- 25-Year Savings: $16,096
- Payback Period: 9.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gunbarrel
Let's have a look at the average cost of solar panels in Gunbarrel.
In Gunbarrel, solar panels cost about 2.69 per watt on average. The average Gunbarrel homeowner needs a 5.3-kilowatt system, which would cost about $9,961 with the federal tax credit, or $14,244 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Gunbarrel can save about $19,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Gunbarrel
| Year | Return on Investment |
|---|---|
| 1 years | $-8,919 |
| 3 years | $-6,834 |
| 5 years | $-4,750 |
| 7 years | $-2,665 |
| 9 years | $-581 |
| 11 years | $1,504 |
| 13 years | $3,588 |
| 15 years | $5,673 |
| 17 years | $7,758 |
| 19 years | $9,842 |
| 21 years | $11,927 |
| 23 years | $14,011 |
| 25 years | $16,096 |
Top Solar Installers in Gunbarrel
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make swapping over to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but working with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Gunbarrel
Factors that Affect Solar Panel Costs in Gunbarrel
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The 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. However, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Gunbarrel average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Gunbarrel, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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
There are a lot of companies available in Gunbarrel, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- 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.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
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 Gunbarrel, CO Solar Cost FAQs
What is the average cost of installing solar panels in Gunbarrel?
The average cost of solar panels in Gunbarrel 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Gunbarrel?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Gunbarrel?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.