Solar Panel Cost Guide in Lochbuie, CO (2024 Update)
- Lochbuie Solar Installation Cost: $14,488
- 25-Year Savings: $17,607
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Lochbuie
We go over average solar pricing in Lochbuie.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lochbuie, the average cost of solar panels is 4 per watt.The average Lochbuie homeowner needs a 5.2-kilowatt system, which would cost about $14,488 with the federal tax credit, or $20,718 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $20,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lochbuie
| Year | Return on Investment |
|---|---|
| 1 years | $-13,470 |
| 3 years | $-11,434 |
| 5 years | $-9,397 |
| 7 years | $-7,361 |
| 9 years | $-5,324 |
| 11 years | $-3,287 |
| 13 years | $-1,251 |
| 15 years | $786 |
| 17 years | $2,822 |
| 19 years | $4,859 |
| 21 years | $6,895 |
| 23 years | $8,932 |
| 25 years | $10,968 |
Top Solar Installers in Lochbuie
Many homeowners decide to hire a solar panel company since trying to put up solar panels yourself can be hard. The expertise that solar companies offer can be valuable as well, particularly if you don’t quite know what type of solar equipment you need.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Lochbuie
Factors that Affect Solar Panel Costs in Lochbuie
For many Lochbuie homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Lochbuie, with typical prices between $20,000 to $40,000. There are a few 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 influences the overall cost of going solar. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install 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
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your overall costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $14,227 | 13.7 years |
| 8 kW | $4.06 | $22,734 | $19,415 | 13.5 years |
| 10 kW | $3.98 | $27,860 | $24,826 | 13.2 years |
| 12 kW | $3.90 | $32,763 | $30,459 | 13.0 years |
| 14 kW | $3.82 | $37,444 | $36,316 | 12.7 years |
| 16 kW | $3.74 | $41,901 | $42,396 | 12.4 years |
| 18 kW | $3.66 | $46,136 | $48,698 | 12.2 years |
| 20 kW | $3.58 | $50,148 | $55,223 | 11.9 years |
How to Save on Solar Panels
There are a lot of companies available in Lochbuie, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Lochbuie, CO Solar Cost FAQs
How much does it cost to install solar panels in Lochbuie?
The average cost of solar panels in Lochbuie is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Lochbuie have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can 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.