Solar Panel Cost Guide in Lakewood, CO (2025 Update)
- Lakewood Solar Installation Cost: $14,622
- 25-Year Savings: $16,243
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Lakewood
We go over average solar pricing in Lakewood.
In Lakewood, solar panels cost about 4 per watt on average.The average solar panel system size in Lakewood is around 5.2 kilowatts, meaning a cost of about $14,622 for a solar installation, or $20,909 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Lakewood depending on several factors, such as the model of solar panels you choose and the solar company you hire.But, once you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $19,000 over 20 years on power bills.
To get a free quote from a vetted solar installation company in Lakewood, you can 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
Many homeowners choose to use a solar panel installer since trying to install solar panels by yourself can be challenging. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're searching for a solar installer in Lakewood, the EcoWatch team has compiled a list of our top suggestions here:
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
See all of the solar companies in Lakewood
Factors that Affect Solar Panel Costs in Lakewood
For many Lakewood homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Lakewood, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Lakewood homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the total 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 remaining significant cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Lakewood, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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
There are a lot of companies available in Lakewood, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
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
EcoWatch's Lakewood, CO Solar Cost FAQs
How much does it cost to install solar panels in Lakewood?
The average cost of solar panels in Lakewood is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Lakewood?
Solar panels aren’t free in Lakewood, but there are some options that can make getting them more affordable, 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 much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Lakewood, that will require at least a 10-kW system. Not all homes will have roofs that 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?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 install between 20 and 35 panels to account for 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.