Solar Panel Cost Guide in Loveland, CO (2024 Update)
- Loveland Solar Installation Cost: $15,046
- 25-Year Savings: $15,545
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Loveland
Find out what the average cost of a solar system is in Loveland.
While the national average of solar panels is $2.66 per watt, solar panels in Loveland typically cost about 4.Since a 5.4-kW system is needed to cover the energy needs of a typical home in Loveland, the average price of going solar will be about $15,046 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of equipment you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Loveland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,073 |
| 3 years | $-12,128 |
| 5 years | $-10,183 |
| 7 years | $-8,238 |
| 9 years | $-6,293 |
| 11 years | $-4,348 |
| 13 years | $-2,403 |
| 15 years | $-458 |
| 17 years | $1,487 |
| 19 years | $3,432 |
| 21 years | $5,377 |
| 23 years | $7,322 |
| 25 years | $9,267 |
Top Solar Installers in Loveland
When making the switch to solar, many homeowners decide to hire a solar company since installing a solar system yourself can be a time-consuming project. Plus, if you’d like to maximize your investment in solar power, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Loveland
Factors that Affect Solar Panel Costs in Loveland
The cost of installing a solar system in Loveland can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,980.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Loveland, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.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 upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Loveland, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount 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 | $11,183 | 15.2 years |
| 8 kW | $4.06 | $22,734 | $15,357 | 14.9 years |
| 10 kW | $3.98 | $27,860 | $19,753 | 14.6 years |
| 12 kW | $3.90 | $32,763 | $24,372 | 14.3 years |
| 14 kW | $3.82 | $37,444 | $29,214 | 14.0 years |
| 16 kW | $3.74 | $41,901 | $34,279 | 13.8 years |
| 18 kW | $3.66 | $46,136 | $39,567 | 13.5 years |
| 20 kW | $3.58 | $50,148 | $45,078 | 13.2 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 select the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component 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
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 Loveland, CO Solar Cost FAQs
What is the average cost of installing solar panels in Loveland?
The average cost of solar panels in Loveland 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 kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Loveland?
A solar panel system isn’t free in Loveland, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Loveland?
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 power bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.