Solar Panel Cost Guide in Gunnison, CO (2023 Update)
- Gunnison Solar Installation Cost: $9,629
- 25-Year Savings: $18,244
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gunnison
Let's have a look at the average cost of solar in Gunnison.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Gunnison, the typical cost of a solar system is 2.69 per watt. The average solar panel system size in Gunnison is around 5.1 kilowatts, meaning a cost of about $9,622 for a solar installation, or $13,759 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Gunnison homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a fruitful investment. The average homeowner in Gunnison can save around $21,000 on their energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Gunnison
| Year | Return on Investment |
|---|---|
| 1 years | $-8,661 |
| 3 years | $-6,725 |
| 5 years | $-4,789 |
| 7 years | $-2,852 |
| 9 years | $-916 |
| 11 years | $1,020 |
| 13 years | $2,956 |
| 15 years | $4,892 |
| 17 years | $6,829 |
| 19 years | $8,765 |
| 21 years | $10,701 |
| 23 years | $12,637 |
| 25 years | $14,574 |
Top Solar Installers in Gunnison
When going solar, many homeowners decide to hire a solar installation company since overseeing your solar installation yourself can be a difficult project. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
If you'd like to go solar but still aren't sure which solar panel company to go with, here are our recommendations for providers in Gunnison:
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 Gunnison
Factors that Affect Solar Panel Costs in Gunnison
For many Gunnison homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Gunnison, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Gunnison, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When estimating 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
The final major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Gunnison, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $20,953 | 9.0 years |
| 8 kW | $2.74 | $15,365 | $28,239 | 8.8 years |
| 10 kW | $2.69 | $18,830 | $35,676 | 8.6 years |
| 12 kW | $2.64 | $22,144 | $43,263 | 8.5 years |
| 14 kW | $2.58 | $25,308 | $51,000 | 8.3 years |
| 16 kW | $2.53 | $28,320 | $58,889 | 8.1 years |
| 18 kW | $2.47 | $31,182 | $66,928 | 7.9 years |
| 20 kW | $2.42 | $33,894 | $75,117 | 7.8 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 models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. 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 peruse their list of offerings before deciding.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Gunnison, CO Solar Cost FAQs
How much does it cost to install solar panels in Gunnison?
The average cost of solar panels in Gunnison 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 consume.
Should I lease or buy solar panels in Gunnison?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is going solar worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 get 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.