Solar Panel Cost Guide in Lone Tree, CO (2023 Update)
- Lone Tree Solar Installation Cost: $9,679
- 25-Year Savings: $17,363
- Payback Period: 9.0 Years
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Updated May 04, 2023
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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.
While the national average of solar panels is $2.66 per watt, solar panels in Lone Tree generally cost about 2.69. To account for the typical energy needs of the average home in Lone Tree, most homeowners require a 5.1-kilowatt system. Using the figure above, a solar installation costs around $9,679, or $13,841 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with. Even with the high initial cost, the average Lone Tree homeowner can save around $20,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lone Tree
| Year | Return on Investment |
|---|---|
| 1 years | $-8,597 |
| 3 years | $-6,434 |
| 5 years | $-4,270 |
| 7 years | $-2,107 |
| 9 years | $56 |
| 11 years | $2,220 |
| 13 years | $4,383 |
| 15 years | $6,546 |
| 17 years | $8,710 |
| 19 years | $10,873 |
| 21 years | $13,036 |
| 23 years | $15,200 |
| 25 years | $17,363 |
Top Solar Installers in Lone Tree
Trying to put up solar panels by yourself can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you'd like to go solar but still aren't sure which solar panel company 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
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 install a solar energy system depends 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 a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 about $2,690 per kilowatt in Lone Tree. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Lone Tree to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating in Lone Tree, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more 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 companies.
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 | $19,788 | 9.3 years |
| 8 kW | $2.74 | $15,365 | $26,686 | 9.1 years |
| 10 kW | $2.69 | $18,830 | $33,734 | 9.0 years |
| 12 kW | $2.64 | $22,144 | $40,932 | 8.8 years |
| 14 kW | $2.58 | $25,308 | $48,281 | 8.6 years |
| 16 kW | $2.53 | $28,320 | $55,781 | 8.4 years |
| 18 kW | $2.47 | $31,182 | $63,432 | 8.2 years |
| 20 kW | $2.42 | $33,894 | $71,233 | 8.1 years |
How to Save on Solar Panels
There are numerous companies available in Lone Tree, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lone Tree, CO Solar Cost FAQs
What is the average cost of installing solar panels in Lone Tree?
The average cost of solar panels in Lone Tree is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lone Tree, 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.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.