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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Severance, the typical cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Severance, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,608, or $20,889 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what installation company you go with.Many homeowners find installing solar panels is a solid investment. The average homeowner in Severance can save around $19,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, 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 opt to use a solar installation company since DIY solar panel installation can be a challenging project. Some solar installers, especially local ones, can help you take advantage of incentives in Severance, therefore optimizing your ROI.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
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 depends on 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 a number of factors that considerably 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 a few different factors. One of the key 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 raise costs. For each additional kilowatt you need, your cost can go up by about $3,980.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Severance, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s vital to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Severance, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 solar installer you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which company you should choose, since different companies provide different panels.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Severance, CO Solar Cost FAQs
What is the average cost of installing solar panels in Severance?
The average cost of solar panels in Severance is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
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 install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Severance have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable 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 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.