Solar Panel Cost Guide in Sherrelwood, CO (Mar 2023)
- Sherrelwood Solar Installation Cost: $9,716
- 25-Year Savings: $15,755
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Sherrelwood
Let's take a look at the average cost of solar panels in Sherrelwood.
The average cost of a solar system in Sherrelwood is 2.69 per watt. Using this figure, a typical 5.2-kW system would cost about $9,716 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Sherrelwood depending on several factors, such as the model of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on electricity bills.
To receive a free estimate from a highly rated solar company in Sherrelwood, you can click the button below.
Solar savings over time in Sherrelwood
| 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 Sherrelwood
When going solar, many homeowners opt to hire a solar installer since installing solar panels yourself can be a time-consuming project. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
If you're on the hunt for a solar installer in Sherrelwood, we've organized 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 Sherrelwood
Factors that Affect Solar Panel Costs in Sherrelwood
There are a number of 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 does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use 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. The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
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 Sherrelwood homeowners decide to finance their solar panel systems to make going solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that has the products, warranties and services you want and also fit into your budget.
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
Since the type of solar panels and the installer you choose greatly affects 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: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Sherrelwood, CO Solar Cost FAQs
What is the average cost of installing solar panels in Sherrelwood?
This is a hard question to answer exactly, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Sherrelwood?
You can't get solar panels for free in Sherrelwood. 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.
Is it worth going solar in Sherrelwood?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.