Solar Panel Cost Guide in Lafayette, CO (Mar 2023)
- Lafayette Solar Installation Cost: $9,961
- 25-Year Savings: $16,773
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lafayette
Find out what the average cost of solar panels are in Lafayette.
While the national average of solar panels is $2.66 per watt, solar panels in Lafayette typically cost about 2.69. Since a 5.3-kW system is needed to cover the energy needs of a typical home in Lafayette, the average price of going solar will be about $9,961 after claiming the federal solar tax credit of 30%.
These figures are only averages, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you want to go with. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a customized quote.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-8,892 |
| 3 years | $-6,753 |
| 5 years | $-4,614 |
| 7 years | $-2,476 |
| 9 years | $-337 |
| 11 years | $1,802 |
| 13 years | $3,940 |
| 15 years | $6,079 |
| 17 years | $8,218 |
| 19 years | $10,357 |
| 21 years | $12,495 |
| 23 years | $14,634 |
| 25 years | $16,773 |
Top Solar Installers in Lafayette
Many homeowners choose to use a solar installation company since trying to install solar panels yourself can be challenging. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance in the long run.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers nearby:
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 Lafayette
Factors that Affect Solar Panel Costs in Lafayette
While the average cost of a solar system in Lafayette is $9,961, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,690 per kilowatt in Lafayette. Some solar panel 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. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lafayette to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of 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 APR could reduce your costs remarkably.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Lafayette, you'll have many options to choose from, but each comes at various price points for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that offers the products, warranties and services you want and also fits within your budget.
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 | $18,585 | 9.7 years |
| 8 kW | $2.74 | $15,365 | $25,081 | 9.5 years |
| 10 kW | $2.69 | $18,830 | $31,728 | 9.3 years |
| 12 kW | $2.64 | $22,144 | $38,526 | 9.1 years |
| 14 kW | $2.58 | $25,308 | $45,474 | 8.9 years |
| 16 kW | $2.53 | $28,320 | $52,573 | 8.8 years |
| 18 kW | $2.47 | $31,182 | $59,822 | 8.6 years |
| 20 kW | $2.42 | $33,894 | $67,222 | 8.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Long-running companies likely have a good 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 service, such as part repairs and replacements.
- Solar Panel Brands: The type of solar panel you want plays a role in which company you should choose, since different companies have access to different panels.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Lafayette, CO Solar Cost FAQs
What is the average cost of installing solar panels in Lafayette?
The average cost of solar panels in Lafayette 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 like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Lafayette have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to 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.