Solar Panel Cost Guide in Silt, CO (2024 Update)
- Silt Solar Installation Cost: $14,386
- 25-Year Savings: $15,444
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Silt
We break down average solar pricing in Silt.
Although the national average of solar panels is $2.66 per watt, solar panels in Silt typically cost around 4.The average Silt homeowner needs a 5.2-kilowatt system, which would cost about $14,386 with the federal tax credit, or $20,572 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely look different based on factors unique to your home and what company you go with.Many homeowners find going solar is a sound investment. The average homeowner in Silt can save around $19,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a custom quote.
Solar savings over time in Silt
| Year | Return on Investment |
|---|---|
| 1 years | $-13,418 |
| 3 years | $-11,481 |
| 5 years | $-9,545 |
| 7 years | $-7,609 |
| 9 years | $-5,673 |
| 11 years | $-3,737 |
| 13 years | $-1,800 |
| 15 years | $136 |
| 17 years | $2,072 |
| 19 years | $4,008 |
| 21 years | $5,944 |
| 23 years | $7,881 |
| 25 years | $9,817 |
Top Solar Installers in Silt
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar company can make your switch to solar power much easier. Some solar companies, particularly local ones, can help you take advantage of incentives in Silt, thereby optimizing your ROI.
If you're looking for a solar installer in Silt, the EcoWatch team has compiled a list of our top suggestions here:
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 Silt
Factors that Affect Solar Panel Costs in Silt
Although the average cost of a solar system in Silt is $14,386, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,980 per kilowatt in Silt.The brand and kind of equipment you want for your solar system can raise or lower 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 more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Silt, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater 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 promotion can bring their pricing lower to compete with bigger companies.
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 | $11,858 | 14.9 years |
| 8 kW | $4.06 | $22,734 | $16,257 | 14.6 years |
| 10 kW | $3.98 | $27,860 | $20,878 | 14.3 years |
| 12 kW | $3.90 | $32,763 | $25,723 | 14.0 years |
| 14 kW | $3.82 | $37,444 | $30,790 | 13.7 years |
| 16 kW | $3.74 | $41,901 | $36,080 | 13.4 years |
| 18 kW | $3.66 | $46,136 | $41,593 | 13.1 years |
| 20 kW | $3.58 | $50,148 | $47,329 | 12.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Reputation: Your solar installer should have a solid 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 previous customers.
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 Silt, CO Solar Cost FAQs
How much does it cost to install solar panels in Silt?
The average cost of solar panels in Silt is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Silt?
Leasing solar panels can be an appealing choice, because it typically 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 get the most savings.
Can you sell solar power back to the grid in Silt?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Silt?
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 the amount of energy they produce will have decreased significantly after that point. You can choose 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.