Solar Panel Cost Guide in Shaw Heights, CO (Feb 2023)
- Shaw Heights Solar Installation Cost: $9,716
- 25-Year Savings: $15,755
- Payback Period: 9.5 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Shaw Heights
Find out what the average cost of installing solar panels is in Shaw Heights.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Shaw Heights, the average cost of solar panels is $3 per watt. To account for the typical energy usage of the average home in Shaw Heights, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,716, or $7,190 after the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more. For many homeowners, the upfront cost of solar panels is worth paying. On average Shaw Heights homeowners see about $19,000 in savings on utility bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Shaw Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-8,697 |
| 3 years | $-6,660 |
| 5 years | $-4,622 |
| 7 years | $-2,584 |
| 9 years | $-546 |
| 11 years | $1,491 |
| 13 years | $3,529 |
| 15 years | $5,567 |
| 17 years | $7,605 |
| 19 years | $9,642 |
| 21 years | $11,680 |
| 23 years | $13,718 |
| 25 years | $15,755 |
Top Solar Installers in Shaw Heights
Putting up solar panels yourself can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're looking for a solar company in Shaw Heights, we've 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 (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 Shaw Heights
Factors that Affect Solar Panel Costs in Shaw Heights
While the average cost of a solar system in Shaw Heights is $9,716, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar system in Shaw Heights, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $2,690 for each additional kilowatt you need. The type 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. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Shaw Heights average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Shaw Heights homeowners decide to finance their solar panel systems to offset upfront costs. 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 more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can impact your pricing. Shaw Heights' solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Shaw Heights know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $17,879 | 9.9 years |
| 8 kW | $2.74 | $15,365 | $24,139 | 9.7 years |
| 10 kW | $2.69 | $18,830 | $30,551 | 9.5 years |
| 12 kW | $2.64 | $22,144 | $37,113 | 9.3 years |
| 14 kW | $2.58 | $25,308 | $43,826 | 9.2 years |
| 16 kW | $2.53 | $28,320 | $50,689 | 9.0 years |
| 18 kW | $2.47 | $31,182 | $57,703 | 8.8 years |
| 20 kW | $2.42 | $33,894 | $64,868 | 8.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- 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 significant role in the company you opt for.
- Contract: Before you sign a contract with a solar installer, make sure to read it through 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 part breaks or malfunctions and if there are any guarantees about energy production.
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 Shaw Heights, CO Solar Cost FAQs
How much does it cost to install solar panels in Shaw Heights?
This is a difficult question to answer precisely, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Shaw Heights?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $987.62 per year.
How long do solar panels last in Shaw Heights?
Even though 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 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.