Solar Panel Cost Guide in Niwot, CO (Mar 2023)
- Niwot Solar Installation Cost: $9,961
- 25-Year Savings: $15,553
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Niwot
We break down average solar pricing in Niwot.
The national average cost of solar panels is $2.66 per watt, but in Niwot it's 2.69 per watt. The average Niwot homeowner needs a 5.3-kilowatt system, which would cost about $9,961 with the federal tax credit, or $14,244 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Niwot homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in Niwot for a customized quote.
Solar savings over time in Niwot
| Year | Return on Investment |
|---|---|
| 1 years | $-8,940 |
| 3 years | $-6,899 |
| 5 years | $-4,858 |
| 7 years | $-2,817 |
| 9 years | $-776 |
| 11 years | $1,265 |
| 13 years | $3,306 |
| 15 years | $5,348 |
| 17 years | $7,389 |
| 19 years | $9,430 |
| 21 years | $11,471 |
| 23 years | $13,512 |
| 25 years | $15,553 |
Top Solar Installers in Niwot
Although you can install solar panels on your own, it requires extra effort and knowledge. Because of that, the majority of homeowners choose a solar panel installer. Some solar installers, especially local ones, can help you make the most of incentives in Niwot, thereby optimizing your ROI.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our suggestions for providers in Niwot:
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 Niwot
Factors that Affect Solar Panel Costs in Niwot
Cost is often 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 Niwot: 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 cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,690. The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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 researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Niwot, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $17,201 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,237 | 10.0 years |
| 10 kW | $2.69 | $18,830 | $29,422 | 9.8 years |
| 12 kW | $2.64 | $22,144 | $35,759 | 9.6 years |
| 14 kW | $2.58 | $25,308 | $42,246 | 9.4 years |
| 16 kW | $2.53 | $28,320 | $48,883 | 9.2 years |
| 18 kW | $2.47 | $31,182 | $55,672 | 9.0 years |
| 20 kW | $2.42 | $33,894 | $62,611 | 8.8 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: If you're concerned about the durability of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
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 Niwot, CO Solar Cost FAQs
What is the average cost of installing solar panels in Niwot?
This is a difficult question to answer precisely, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have above-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 it better to lease or buy solar panels in Niwot?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How will installing solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Niwot is currently $483,803, which means you could be looking at a value of about $19,836 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Niwot is a rewarding investment.
How often do you have to replace solar panels?
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 larger level 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.