Solar Panel Cost Guide in Lochbuie, CO (Mar 2023)
- Lochbuie Solar Installation Cost: $9,792
- 25-Year Savings: $17,607
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lochbuie
Let's take a look at the average cost of solar panels in Lochbuie.
In Lochbuie, solar panels cost about 2.69 per watt on average. To account for the typical energy usage of the average home in Lochbuie, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $9,792, or $14,003 before the federal solar tax credit of 30% is applied.
The true cost of your system can be higher or lower than the average in Lochbuie based on several factors, such as the brand of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Lochbuie see about $20,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a custom quote.
Solar savings over time in Lochbuie
| Year | Return on Investment |
|---|---|
| 1 years | $-8,696 |
| 3 years | $-6,504 |
| 5 years | $-4,312 |
| 7 years | $-2,120 |
| 9 years | $72 |
| 11 years | $2,264 |
| 13 years | $4,456 |
| 15 years | $6,648 |
| 17 years | $8,840 |
| 19 years | $11,032 |
| 21 years | $13,224 |
| 23 years | $15,415 |
| 25 years | $17,607 |
Top Solar Installers in Lochbuie
When switching to solar energy, many homeowners prefer to use a solar installer since DIY solar panel installation can be a difficult project. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for you.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some 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 Lochbuie
Factors that Affect Solar Panel Costs in Lochbuie
The cost of installing a solar system in Lochbuie can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,690 per kilowatt in Lochbuie. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this 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 Lochbuie homeowners decide to finance their solar panel systems to offset upfront costs. 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're only able to 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 significantly.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can play a role in determining how much you pay. Lochbuie's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lochbuie have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $2.80 | $11,750 | $19,861 | 9.3 years |
| 8 kW | $2.74 | $15,365 | $26,783 | 9.1 years |
| 10 kW | $2.69 | $18,830 | $33,856 | 8.9 years |
| 12 kW | $2.64 | $22,144 | $41,079 | 8.8 years |
| 14 kW | $2.58 | $25,308 | $48,452 | 8.6 years |
| 16 kW | $2.53 | $28,320 | $55,977 | 8.4 years |
| 18 kW | $2.47 | $31,182 | $63,652 | 8.2 years |
| 20 kW | $2.42 | $33,894 | $71,477 | 8.0 years |
How to Save on Solar Panels
There are a large number of companies available in Lochbuie, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The type of solar panel you need to get plays a part in which company you should go with, since different companies provide different panels.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
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 Lochbuie, CO Solar Cost FAQs
What is the average cost of installing solar panels in Lochbuie?
The average cost of solar panels in Lochbuie is about $13,450 for a 5-kW system and $26,900 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 Lochbuie?
A solar panel system isn't free in Lochbuie, 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 you can take advantage of.
Is it worth going solar in Lochbuie?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Although 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.