Solar Panel Cost Guide in Severance, CO (2024 Update)
- Severance Solar Installation Cost: $14,608
- 25-Year Savings: $16,936
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Severance
Let’s take a look at the average cost of solar panels in Severance.
While the national average of solar panels is $2.66 per watt, solar panels in Severance typically cost about 4.The average Severance homeowner needs a 5.2-kilowatt system, which would cost about $14,608 with the federal tax credit, or $20,889 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
To receive a free quote from a top solar installation company in Severance, you can click the button below.
Solar savings over time in Severance
Year | Return on Investment |
---|---|
1 years | $-13,631 |
3 years | $-11,678 |
5 years | $-9,724 |
7 years | $-7,770 |
9 years | $-5,816 |
11 years | $-3,863 |
13 years | $-1,909 |
15 years | $45 |
17 years | $1,998 |
19 years | $3,952 |
21 years | $5,906 |
23 years | $7,860 |
25 years | $9,813 |
Top Solar Installers in Severance
When switching to solar energy, many homeowners choose to hire a solar company since installing a solar system yourself can be a time-consuming project. Some solar installers, especially local ones, can help you make the most of incentives in Severance, therefore optimizing your ROI.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
See all of the solar companies in Severance
Factors that Affect Solar Panel Costs in Severance
For many Severance homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Severance, 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
When it comes to estimating the cost of solar panels in Severance, 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 gauge by looking at past electricity bills. Your overall cost can increase by about $3,980 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 choose 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, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Severance average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over five to seven years on average.While solar loans make adopting solar energy more accessible for Severance homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Severance is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $4.14 | $17,385 | $13,293 | 14.2 years |
8 kW | $4.06 | $22,734 | $18,170 | 13.9 years |
10 kW | $3.98 | $27,860 | $23,270 | 13.6 years |
12 kW | $3.90 | $32,763 | $28,592 | 13.3 years |
14 kW | $3.82 | $37,444 | $34,138 | 13.1 years |
16 kW | $3.74 | $41,901 | $39,906 | 12.8 years |
18 kW | $3.66 | $46,136 | $45,898 | 12.5 years |
20 kW | $3.58 | $50,148 | $52,112 | 12.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Contract: Review the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
EcoWatch's Severance, CO Solar Cost FAQs
What is the average cost of installing solar panels in Severance?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $19,900 for a 5-kW system and $39,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Severance?
You can’t get solar panels for free in Severance. 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 you sell solar power back to the grid in Severance?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even though 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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.