Solar Panel Cost Guide in Rifle, CO (2023 Update)
- Rifle Solar Installation Cost: $9,723
- 25-Year Savings: $15,031
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rifle
Let's have a look at the average cost of solar in Rifle.
Although the national average of solar panels is $2.66 per watt, solar panels in Rifle generally cost about 2.69. Since a 5.2-kW system is needed to cover the energy usage of a typical home in Rifle, the average price of going solar will be about $9,716 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you will most likely differ based on your specific situation and what company you go with. Despite the significant initial cost, the average Rifle homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the positives of solar.
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Solar savings over time in Rifle
| Year | Return on Investment |
|---|---|
| 1 years | $-9,641 |
| 3 years | $-9,476 |
| 5 years | $-9,311 |
| 7 years | $-9,145 |
| 9 years | $-8,980 |
| 11 years | $-8,815 |
| 13 years | $-8,650 |
| 15 years | $-8,485 |
| 17 years | $-8,320 |
| 19 years | $-8,155 |
| 21 years | $-7,990 |
| 23 years | $-7,825 |
| 25 years | $-7,660 |
Top Solar Installers in Rifle
Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be a lot of work. The expertise that solar installers provide can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
If you're on the hunt for a solar company in Rifle, the EcoWatch team has put together 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 Rifle
Factors that Affect Solar Panel Costs in Rifle
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have 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 many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only 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 Rifle to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Rifle is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $17,014 | 10.2 years |
| 8 kW | $2.74 | $15,365 | $22,987 | 10.0 years |
| 10 kW | $2.69 | $18,830 | $29,110 | 9.8 years |
| 12 kW | $2.64 | $22,144 | $35,384 | 9.6 years |
| 14 kW | $2.58 | $25,308 | $41,808 | 9.4 years |
| 16 kW | $2.53 | $28,320 | $48,383 | 9.2 years |
| 18 kW | $2.47 | $31,182 | $55,109 | 9.0 years |
| 20 kW | $2.42 | $33,894 | $61,986 | 8.8 years |
How to Save on Solar Panels
There are a large number of companies available in Rifle, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies carry 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 Rifle, CO Solar Cost FAQs
What is the average cost of installing solar panels in Rifle?
The average cost of solar panels in Rifle 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 such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $958.80 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.