Solar Panel Cost Guide in Lochbuie, CO (2023 Update)
- Lochbuie Solar Installation Cost: $9,792
- 25-Year Savings: $17,607
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lochbuie
Let's have a look at the average cost of solar panels in Lochbuie.
In Lochbuie, solar panels cost about 2.69 per watt on average. The average solar panel system size in Lochbuie is around 5.2 kilowatts, meaning a cost of about $9,792 for a solar installation, or $14,003 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of equipment you want to get, your solar contractor and more. Many homeowners find installing a solar system is a sound investment. The average homeowner in Lochbuie can save around $20,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Lochbuie that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lochbuie
| Year | Return on Investment |
|---|---|
| 1 years | $-8,774 |
| 3 years | $-6,738 |
| 5 years | $-4,701 |
| 7 years | $-2,665 |
| 9 years | $-628 |
| 11 years | $1,409 |
| 13 years | $3,445 |
| 15 years | $5,482 |
| 17 years | $7,518 |
| 19 years | $9,555 |
| 21 years | $11,591 |
| 23 years | $13,628 |
| 25 years | $15,664 |
Top Solar Installers in Lochbuie
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make your swap to solar power much easier. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Lochbuie
Factors that Affect Solar Panel Costs in Lochbuie
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Lochbuie: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lochbuie, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Lochbuie average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Lochbuie, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence 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. Though, they may charge more for that service. 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 lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The kind of solar panel you need to install plays a role in which company you should choose, since different companies have different panels.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lochbuie, CO Solar Cost FAQs
How much does it cost to install solar panels in Lochbuie?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
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 let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 buy between 20 and 35 panels to cover 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.