Solar Panel Cost Guide in Mead, CO (2024 Update)
- Mead Solar Installation Cost: $14,608
- 25-Year Savings: $16,554
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Mead
Find out what the average cost of installing solar panels is in Mead.
In Mead, solar panels cost about 4 per watt on average.Since a 5.2-kW system is needed to cover the energy consumption of a typical home in Mead, the average price of going solar will be about $14,608 after claiming the federal solar tax credit of 0.
The actual price you pay can be higher or lower than the average in Mead depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar is worth paying. On average Mead homeowners see about $19,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mead
| Year | Return on Investment |
|---|---|
| 1 years | $-13,640 |
| 3 years | $-11,704 |
| 5 years | $-9,768 |
| 7 years | $-7,831 |
| 9 years | $-5,895 |
| 11 years | $-3,959 |
| 13 years | $-2,023 |
| 15 years | $-87 |
| 17 years | $1,850 |
| 19 years | $3,786 |
| 21 years | $5,722 |
| 23 years | $7,658 |
| 25 years | $9,595 |
Top Solar Installers in Mead
When going solar, many homeowners decide to go with a solar company since overseeing your solar installation yourself can be a difficult project. Solar warranties and repairs are often included in the cost of installation when you go with a solar contractor as well, which can save you more money after your upfront investment.
If you’d like to go solar but still aren’t certain which solar system 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
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 Mead
Factors that Affect Solar Panel Costs in Mead
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Mead: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,980. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 power bills. In addition, extra products, such as solar batteries, can bring your total well above the Mead average.
Solar Financing Terms
Many homeowners find the average cost of solar in Mead to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Mead is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services for different budgets.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you want and also is within your budget.
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 | $12,856 | 14.4 years |
| 8 kW | $4.06 | $22,734 | $17,587 | 14.1 years |
| 10 kW | $3.98 | $27,860 | $22,541 | 13.8 years |
| 12 kW | $3.90 | $32,763 | $27,718 | 13.5 years |
| 14 kW | $3.82 | $37,444 | $33,117 | 13.3 years |
| 16 kW | $3.74 | $41,901 | $38,740 | 13.0 years |
| 18 kW | $3.66 | $46,136 | $44,585 | 12.7 years |
| 20 kW | $3.58 | $50,148 | $50,654 | 12.4 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should go with, since different companies provide different panels.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a good company.
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 Mead, CO Solar Cost FAQs
What is the average cost of installing solar panels in Mead?
The average cost of solar panels in Mead 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Mead?
You can’t get solar panels for free in Mead. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Mead, 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.
How long do solar panels last in Mead?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.