Solar Panel Cost Guide in Lakewood, CO (2024 Update)

  • Lakewood Solar Installation Cost: $14,622
  • 25-Year Savings: $16,243
  • Payback Period: 14.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lakewood

We go over average solar pricing in Lakewood.

The national average cost of solar panels is $2.66 per watt, but in Lakewood it’s 4 per watt.Because a 5.2-kW system is needed to cover the energy consumption of a typical home in Lakewood, the average price of going solar will be about $14,622 after claiming the federal solar tax credit of 0.

The true cost of your system can go higher or lower than the average in Lakewood depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.Despite the large upfront cost, the average Lakewood homeowner can save about $19,000 on their energy bills over 20 years, which is one of the benefits of solar.

For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Lakewood

Year Return on Investment
1 years $-13,654
3 years $-11,718
5 years $-9,781
7 years $-7,845
9 years $-5,909
11 years $-3,973
13 years $-2,037
15 years $-100
17 years $1,836
19 years $3,772
21 years $5,708
23 years $7,645
25 years $9,581

Top Solar Installers in Lakewood

Trying to install solar panels yourself can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.

If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Lakewood

Factors that Affect Solar Panel Costs in Lakewood

Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Lakewood: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,980.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Lakewood average.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Lakewood homeowners decide to finance their solar panel systems to make paying for solar more affordable.Even though solar loans make adopting solar energy more accessible for Lakewood homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The remaining key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Lakewood, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies generally 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 car 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 $4.14 $17,385 $12,483 14.6 years
8 kW $4.06 $22,734 $17,089 14.3 years
10 kW $3.98 $27,860 $21,919 14.0 years
12 kW $3.90 $32,763 $26,971 13.7 years
14 kW $3.82 $37,444 $32,247 13.4 years
16 kW $3.74 $41,901 $37,745 13.2 years
18 kW $3.66 $46,136 $43,466 12.9 years
20 kW $3.58 $50,148 $49,410 12.6 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
  • Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
  • Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Lakewood, CO Solar Cost FAQs

How much does it cost to install solar panels in Lakewood?

This is a hard question to answer precisely, 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Lakewood?

A solar panel system isn’t free in Lakewood, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can solar panels completely eradicate my power bills?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Lakewood, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

How many solar panels do I need to power my home?

To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.

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