Solar Panel Cost Guide in Mead, CO (2023 Update)
- Mead Solar Installation Cost: $9,867
- 25-Year Savings: $16,561
- Payback Period: 9.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mead
We break down average solar pricing in Mead.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mead, the average cost of a solar system is 2.69 per watt. The average solar panel system size in Mead is around 5.2 kilowatts, meaning a cost of about $9,867 for a solar installation, or $14,110 before the 30% federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Mead depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire. Many homeowners find installing solar panels is a solid investment. The average homeowner in Mead can save about $19,000 on their power bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Mead
| Year | Return on Investment |
|---|---|
| 1 years | $-8,810 |
| 3 years | $-6,696 |
| 5 years | $-4,581 |
| 7 years | $-2,467 |
| 9 years | $-353 |
| 11 years | $1,761 |
| 13 years | $3,875 |
| 15 years | $5,990 |
| 17 years | $8,104 |
| 19 years | $10,218 |
| 21 years | $12,332 |
| 23 years | $14,446 |
| 25 years | $16,561 |
Top Solar Installers in Mead
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar company can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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
There are several factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of solar panels in Mead, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Mead average.
Solar Financing Terms
Most solar installers in Mead provide solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of loans, including the amount of 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 interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Mead, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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?
This is a hard 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
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 want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate 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 contact a local solar installer to see how many panels can fit on your roof.
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 needs 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 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.