Solar Panel Cost Guide in Highlands Ranch, CO (2023 Update)
- Highlands Ranch Solar Installation Cost: $9,679
- 25-Year Savings: $16,447
- Payback Period: 9.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Highlands Ranch
Find out how much it might cost to switch to solar power in Highlands Ranch.
While the national average of solar panels is $2.66 per watt, solar panels in Highlands Ranch typically cost around 2.69. Using this figure, a typical 5.1-kW system would cost about $9,679 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Highlands Ranch homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Highlands Ranch
| Year | Return on Investment |
|---|---|
| 1 years | $-8,634 |
| 3 years | $-6,543 |
| 5 years | $-4,453 |
| 7 years | $-2,363 |
| 9 years | $-273 |
| 11 years | $1,817 |
| 13 years | $3,907 |
| 15 years | $5,997 |
| 17 years | $8,087 |
| 19 years | $10,177 |
| 21 years | $12,267 |
| 23 years | $14,357 |
| 25 years | $16,447 |
Top Solar Installers in Highlands Ranch
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using an installer can make your switch to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you choose which one will be best for your home.
If you'd like to make the switch to solar but still aren't sure which solar system installer to go with, here are our recommendations for providers 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 Highlands Ranch
Factors that Affect Solar Panel Costs in Highlands Ranch
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Highlands Ranch: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Highlands Ranch to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, 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 opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can impact the cost. Highlands Ranch's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $18,720 | 9.6 years |
| 8 kW | $2.74 | $15,365 | $25,261 | 9.5 years |
| 10 kW | $2.69 | $18,830 | $31,953 | 9.3 years |
| 12 kW | $2.64 | $22,144 | $38,796 | 9.1 years |
| 14 kW | $2.58 | $25,308 | $45,789 | 8.9 years |
| 16 kW | $2.53 | $28,320 | $52,933 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $60,228 | 8.5 years |
| 20 kW | $2.42 | $33,894 | $67,673 | 8.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Highlands Ranch, CO Solar Cost FAQs
How much does it cost to install solar panels in Highlands Ranch?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Highlands Ranch?
Leasing solar panels can be an appealing choice, because it typically 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 way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Highlands Ranch?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Highlands Ranch?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.