Solar Panel Cost Guide in Lone Tree, CO (2024 Update)
- Lone Tree Solar Installation Cost: $14,333
- 25-Year Savings: $17,355
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Lone Tree
Let’s take a look at the average cost of solar panels in Lone Tree.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lone Tree, the average cost of a solar system is 4 per watt.Using this figure, a typical 5.1-kW system would cost about $14,333 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Lone Tree based on several factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a sound investment. The average homeowner in Lone Tree can save around $20,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a custom estimate.
Solar savings over time in Lone Tree
| Year | Return on Investment |
|---|---|
| 1 years | $-13,365 |
| 3 years | $-11,428 |
| 5 years | $-9,492 |
| 7 years | $-7,556 |
| 9 years | $-5,620 |
| 11 years | $-3,684 |
| 13 years | $-1,747 |
| 15 years | $189 |
| 17 years | $2,125 |
| 19 years | $4,061 |
| 21 years | $5,998 |
| 23 years | $7,934 |
| 25 years | $9,870 |
Top Solar Installers in Lone Tree
Although it's possible to install solar panels on your own, it involves extra labor and handiness. Because of that, the majority of homeowners choose a solar panel installer. In addition, if you’d like to maximize your investment in solar power, opting for a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
If you’d like to make the switch to solar but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:
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 Lone Tree
Factors that Affect Solar Panel Costs in Lone Tree
For many Lone Tree homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Lone Tree, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
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 energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,980 per kilowatt in Lone Tree.The 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. On the other hand, 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 Lone Tree average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lone Tree to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.While solar loans make going solar more accessible for Lone Tree homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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
Finally, the company you opt for to install your solar panels can impact your pricing. Lone Tree’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lone Tree know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $4.14 | $17,385 | $14,153 | 13.8 years |
| 8 kW | $4.06 | $22,734 | $19,317 | 13.5 years |
| 10 kW | $3.98 | $27,860 | $24,704 | 13.3 years |
| 12 kW | $3.90 | $32,763 | $30,313 | 13.0 years |
| 14 kW | $3.82 | $37,444 | $36,145 | 12.7 years |
| 16 kW | $3.74 | $41,901 | $42,200 | 12.5 years |
| 18 kW | $3.66 | $46,136 | $48,478 | 12.2 years |
| 20 kW | $3.58 | $50,148 | $54,979 | 11.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- 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 secure and how long the project will take.
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 Lone Tree, CO Solar Cost FAQs
How much does it cost to install solar panels in Lone Tree?
The average cost of solar panels in Lone Tree 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lone Tree is currently $940,300, which means you can expect a value of about $38,552 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lone Tree is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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.