Solar Panel Cost Guide in Sheridan, CO (Mar 2023)
- Sheridan Solar Installation Cost: $9,641
- 25-Year Savings: $15,831
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Sheridan
Find out what the average cost of solar panels are in Sheridan.
The national average cost of solar panels is $2.66 per watt, but in Sheridan it's 2.69 per watt. The average Sheridan homeowner needs a 5.1-kilowatt system, which would cost about $9,641 with the federal tax credit, or $13,787 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Sheridan homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar installer in Sheridan for a quote for your home.
Solar savings over time in Sheridan
| Year | Return on Investment |
|---|---|
| 1 years | $-8,622 |
| 3 years | $-6,584 |
| 5 years | $-4,547 |
| 7 years | $-2,509 |
| 9 years | $-471 |
| 11 years | $1,567 |
| 13 years | $3,604 |
| 15 years | $5,642 |
| 17 years | $7,680 |
| 19 years | $9,718 |
| 21 years | $11,755 |
| 23 years | $13,793 |
| 25 years | $15,831 |
Top Solar Installers in Sheridan
Putting up solar panels yourself can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
If you're searching for a solar installer in Sheridan, 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 (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 Sheridan
Factors that Affect Solar Panel Costs in Sheridan
There are many factors that can influence your 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Sheridan homeowners decide to finance their solar panel systems to make going solar more affordable. While solar loans make going solar more accessible for Sheridan homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can affect the cost. Sheridan's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better 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 discount can bring their pricing lower 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 | $2.80 | $11,750 | $18,125 | 9.8 years |
| 8 kW | $2.74 | $15,365 | $24,468 | 9.6 years |
| 10 kW | $2.69 | $18,830 | $30,962 | 9.5 years |
| 12 kW | $2.64 | $22,144 | $37,606 | 9.3 years |
| 14 kW | $2.58 | $25,308 | $44,401 | 9.1 years |
| 16 kW | $2.53 | $28,320 | $51,347 | 8.9 years |
| 18 kW | $2.47 | $31,182 | $58,443 | 8.7 years |
| 20 kW | $2.42 | $33,894 | $65,690 | 8.5 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When looking 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 component breaking or the company going out of business.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The type of solar panel you need plays a part in which installer you should go with, since different companies have access to different panels.
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 Sheridan, CO Solar Cost FAQs
What is the average cost of installing solar panels in Sheridan?
This is a difficult question to answer precisely, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Sheridan?
You can't get solar panels for free in Sheridan. 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.
Does Sheridan have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.