Solar Panel Cost Guide in Lafayette, CO (2024 Update)
- Lafayette Solar Installation Cost: $14,732
- 25-Year Savings: $16,777
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Lafayette
Find out what the average cost of a solar system is in Lafayette.
While the national average of solar panels is $2.66 per watt, solar panels in Lafayette typically cost about 4.The average solar panel system size in Lafayette is around 5.3 kilowatts, meaning a cost of about $14,732 for a solar installation, or $21,067 before the 0 federal solar 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 needs, the type of solar panels you want, your solar contractor and more.With typical savings of about $19,000 on power bills over 20 years, many homeowners in Lafayette find going solar can be quite rewarding.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-13,763 |
| 3 years | $-11,827 |
| 5 years | $-9,891 |
| 7 years | $-7,955 |
| 9 years | $-6,019 |
| 11 years | $-4,082 |
| 13 years | $-2,146 |
| 15 years | $-210 |
| 17 years | $1,726 |
| 19 years | $3,663 |
| 21 years | $5,599 |
| 23 years | $7,535 |
| 25 years | $9,471 |
Top Solar Installers in Lafayette
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make your swap to solar power much easier. Some solar companies, especially local ones, can help you take advantage of incentives in Lafayette, thereby optimizing your ROI.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our recommendations for providers in Lafayette:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
See all of the solar companies in Lafayette
Factors that Affect Solar Panel Costs in Lafayette
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Lafayette, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,980 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Lafayette, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Lafayette homeowners opt to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in 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 making a larger down payment.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact your pricing. Lafayette’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lafayette know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $12,950 | 14.3 years |
| 8 kW | $4.06 | $22,734 | $17,713 | 14.1 years |
| 10 kW | $3.98 | $27,860 | $22,698 | 13.8 years |
| 12 kW | $3.90 | $32,763 | $27,906 | 13.5 years |
| 14 kW | $3.82 | $37,444 | $33,338 | 13.2 years |
| 16 kW | $3.74 | $41,901 | $38,992 | 12.9 years |
| 18 kW | $3.66 | $46,136 | $44,869 | 12.7 years |
| 20 kW | $3.58 | $50,148 | $50,968 | 12.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
EcoWatch's Lafayette, CO Solar Cost FAQs
What is the average cost of installing solar panels in Lafayette?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Lafayette?
Solar panels aren’t free in Lafayette, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lafayette is currently $693,705, which means you could be looking at a value of about $28,442 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lafayette is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.