Solar Panel Cost Guide in Parker, CO (2023 Update)
- Parker Solar Installation Cost: $9,679
- 25-Year Savings: $17,756
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Parker
Find out what the average cost of installing solar panels is in Parker.
The average cost of solar panels in Parker is 2.69 per watt. Using this figure, a typical 5.1-kW system would cost about $9,679 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Parker homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average Parker homeowners see about $20,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Parker
| Year | Return on Investment |
|---|---|
| 1 years | $-8,581 |
| 3 years | $-6,387 |
| 5 years | $-4,192 |
| 7 years | $-1,997 |
| 9 years | $198 |
| 11 years | $2,392 |
| 13 years | $4,587 |
| 15 years | $6,782 |
| 17 years | $8,977 |
| 19 years | $11,171 |
| 21 years | $13,366 |
| 23 years | $15,561 |
| 25 years | $17,756 |
Top Solar Installers in Parker
When making the switch to solar, many homeowners choose to go with a solar installation company since installing solar panels yourself can be a difficult project. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Parker
Factors that Affect Solar Panel Costs in Parker
For many Parker homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Parker, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require 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. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Parker to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to 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 | $20,246 | 9.2 years |
| 8 kW | $2.74 | $15,365 | $27,296 | 9.0 years |
| 10 kW | $2.69 | $18,830 | $34,496 | 8.8 years |
| 12 kW | $2.64 | $22,144 | $41,848 | 8.7 years |
| 14 kW | $2.58 | $25,308 | $49,350 | 8.5 years |
| 16 kW | $2.53 | $28,320 | $57,002 | 8.3 years |
| 18 kW | $2.47 | $31,182 | $64,805 | 8.1 years |
| 20 kW | $2.42 | $33,894 | $72,759 | 7.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: If you're concerned about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Parker, CO Solar Cost FAQs
How much does it cost to install solar panels in Parker?
This is a tough question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Parker is currently $480,833, so you can expect a value of about $19,714 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Parker is a fruitful investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.