Solar Panel Cost Guide in Manitou Springs, CO (2023 Update)
- Manitou Springs Solar Installation Cost: $9,453
- 25-Year Savings: $22,886
- Payback Period: 7.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Manitou Springs
We go over average solar pricing in Manitou Springs.
Although the national average of solar panels is $2.66 per watt, solar panels in Manitou Springs typically cost around 2.69. To cover the typical energy needs of the average home in Manitou Springs, most homeowners require a 5.0-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,453, or $13,518 before the federal solar tax credit of 30% is applied.
The true price you pay can go higher or lower than the average in Manitou Springs based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a solid investment. The average homeowner in Manitou Springs can save about $24,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar company in Manitou Springs that can help you get a more accurate cost estimate for your home.
Solar savings over time in Manitou Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-8,159 |
| 3 years | $-5,572 |
| 5 years | $-2,985 |
| 7 years | $-398 |
| 9 years | $2,189 |
| 11 years | $4,776 |
| 13 years | $7,363 |
| 15 years | $9,950 |
| 17 years | $12,537 |
| 19 years | $15,124 |
| 21 years | $17,711 |
| 23 years | $20,299 |
| 25 years | $22,886 |
Top Solar Installers in Manitou Springs
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make switching to solar power much easier. Another great thing about going with a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
Working with a professional solar company 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 Manitou Springs
Factors that Affect Solar Panel Costs in Manitou Springs
The cost of installing a solar system in Manitou Springs can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most significant 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 uses, the larger your system will likely need to be. You can expect to pay around $2,690 per kilowatt in Manitou Springs. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Manitou Springs provide solar loans, which reduce the initial cost of installing solar panels. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Manitou Springs, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better 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 lower 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 | $26,918 | 7.6 years |
| 8 kW | $2.74 | $15,365 | $36,192 | 7.5 years |
| 10 kW | $2.69 | $18,830 | $45,617 | 7.3 years |
| 12 kW | $2.64 | $22,144 | $55,192 | 7.2 years |
| 14 kW | $2.58 | $25,308 | $64,918 | 7.0 years |
| 16 kW | $2.53 | $28,320 | $74,795 | 6.9 years |
| 18 kW | $2.47 | $31,182 | $84,822 | 6.7 years |
| 20 kW | $2.42 | $33,894 | $95,000 | 6.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- 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.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Manitou Springs, CO Solar Cost FAQs
What is the average cost of installing solar panels in Manitou Springs?
This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going 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.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Manitou Springs is currently $370,731, which means you can expect a value of about $15,200 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Manitou Springs is a worthwhile 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 average daily sunlight your roof gets. You can take a 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 install 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.