Solar Panel Cost Guide in Montrose, CO (Mar 2023)
- Montrose Solar Installation Cost: $9,622
- 25-Year Savings: $23,749
- Payback Period: 7.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Montrose
We break down average solar pricing in Montrose.
The national average cost of solar panels is $2.66 per watt, but in Montrose it's 2.69 per watt. Using this figure, a typical 5.1-kW system would cost about $9,622 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will look different based on your energy needs and what company you want to go with. With average savings of about $25,000 on energy bills over 20 years, many homeowners in Montrose find going solar can pay off big.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Montrose
| Year | Return on Investment |
|---|---|
| 1 years | $-8,287 |
| 3 years | $-5,618 |
| 5 years | $-2,948 |
| 7 years | $-278 |
| 9 years | $2,391 |
| 11 years | $5,061 |
| 13 years | $7,731 |
| 15 years | $10,400 |
| 17 years | $13,070 |
| 19 years | $15,740 |
| 21 years | $18,409 |
| 23 years | $21,079 |
| 25 years | $23,749 |
Top Solar Installers in Montrose
When switching to solar energy, many homeowners prefer to go with a solar installer since putting up solar panels yourself can be a difficult project. In addition, if you'd like to maximize your investment in solar, using a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
If you're looking for a solar installer in Montrose, the EcoWatch team has organized 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Montrose
Factors that Affect Solar Panel Costs in Montrose
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Montrose: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,690. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Montrose, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Montrose, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to add 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 clean energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Montrose, and each can charge different amounts for labor and equipment. Additionally, some companies in Montrose know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $27,402 | 7.5 years |
| 8 kW | $2.74 | $15,365 | $36,837 | 7.4 years |
| 10 kW | $2.69 | $18,830 | $46,423 | 7.2 years |
| 12 kW | $2.64 | $22,144 | $56,159 | 7.1 years |
| 14 kW | $2.58 | $25,308 | $66,046 | 6.9 years |
| 16 kW | $2.53 | $28,320 | $76,084 | 6.8 years |
| 18 kW | $2.47 | $31,182 | $86,272 | 6.6 years |
| 20 kW | $2.42 | $33,894 | $96,611 | 6.5 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 find the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which company you should choose, since different companies have different panels.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- 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 research your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Montrose, CO Solar Cost FAQs
How much does it cost to install solar panels in Montrose?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Montrose?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Montrose?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.