Solar Panel Cost Guide in Mead, CO (2023 Update)
- Mead Solar Installation Cost: $9,873
- 25-Year Savings: $16,554
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mead
Let's have a look at the average cost of solar in Mead.
In Mead, solar panels cost about 2.69 per watt on average. To cover the typical energy usage of the average home in Mead, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $9,867, or $14,110 before the federal solar tax credit of 30% is applied.
How much you pay can go higher or lower than the average in Mead based on a few factors, such as the type of solar panels you choose and the solar installer you hire. Despite the significant upfront cost, the average Mead homeowner can save about $19,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.
Solar savings over time in Mead
| Year | Return on Investment |
|---|---|
| 1 years | $-8,905 |
| 3 years | $-6,969 |
| 5 years | $-5,033 |
| 7 years | $-3,097 |
| 9 years | $-1,160 |
| 11 years | $776 |
| 13 years | $2,712 |
| 15 years | $4,648 |
| 17 years | $6,585 |
| 19 years | $8,521 |
| 21 years | $10,457 |
| 23 years | $12,393 |
| 25 years | $14,329 |
Top Solar Installers in Mead
Trying to put up solar panels by yourself can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
If you're on the hunt for a solar company in Mead, we've compiled a list of our top suggestions here:
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 Mead
Factors that Affect Solar Panel Costs in Mead
Cost is often one of the most important factors for homeowners considering investing 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 go over each of these briefly below.
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 Mead. The type of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Mead, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence your pricing. Mead's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in the cost. 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 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 | $2.80 | $11,750 | $18,491 | 9.7 years |
| 8 kW | $2.74 | $15,365 | $24,955 | 9.5 years |
| 10 kW | $2.69 | $18,830 | $31,571 | 9.3 years |
| 12 kW | $2.64 | $22,144 | $38,337 | 9.2 years |
| 14 kW | $2.58 | $25,308 | $45,254 | 9.0 years |
| 16 kW | $2.53 | $28,320 | $52,321 | 8.8 years |
| 18 kW | $2.47 | $31,182 | $59,539 | 8.6 years |
| 20 kW | $2.42 | $33,894 | $66,908 | 8.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- 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 good reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Mead?
You can't get solar panels for free in Mead. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.