Solar Panel Cost Guide in Steamboat Springs, CO (2023 Update)
- Steamboat Springs Solar Installation Cost: $9,556
- 25-Year Savings: $17,497
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Steamboat Springs
See how much it might cost to make the switch to solar in Steamboat Springs.
The average cost of a solar panel system in Steamboat Springs is 2.69 per watt. The average Steamboat Springs homeowner needs a 5.1-kilowatt system, which would cost about $9,566 with the federal tax credit, or $13,679 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you choose, your solar contractor and more. Despite the high upfront cost, the average Steamboat Springs homeowner can save about $20,000 on their energy bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Steamboat Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-9,466 |
| 3 years | $-9,286 |
| 5 years | $-9,105 |
| 7 years | $-8,925 |
| 9 years | $-8,745 |
| 11 years | $-8,564 |
| 13 years | $-8,384 |
| 15 years | $-8,204 |
| 17 years | $-8,023 |
| 19 years | $-7,843 |
| 21 years | $-7,663 |
| 23 years | $-7,482 |
| 25 years | $-7,302 |
Top Solar Installers in Steamboat Springs
Installing solar panels by yourself can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. Some solar companies, particularly local ones, can help you take advantage of incentives in Steamboat Springs, thereby optimizing your ROI.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Steamboat Springs
Factors that Affect Solar Panel Costs in Steamboat Springs
The cost of installing a solar system in Steamboat Springs can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,690. There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Steamboat Springs, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. While solar loans make adopting solar energy more accessible for Steamboat Springs homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence your pricing. Steamboat Springs' solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $20,233 | 9.2 years |
| 8 kW | $2.74 | $15,365 | $27,279 | 9.0 years |
| 10 kW | $2.69 | $18,830 | $34,475 | 8.8 years |
| 12 kW | $2.64 | $22,144 | $41,822 | 8.7 years |
| 14 kW | $2.58 | $25,308 | $49,320 | 8.5 years |
| 16 kW | $2.53 | $28,320 | $56,968 | 8.3 years |
| 18 kW | $2.47 | $31,182 | $64,767 | 8.1 years |
| 20 kW | $2.42 | $33,894 | $72,716 | 7.9 years |
How to Save on Solar Panels
There are a lot of companies available in Steamboat Springs, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Though 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 how part repairs and replacements will be handled.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Warranty: If you're worried about the longevity of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Steamboat Springs, CO Solar Cost FAQs
How much does it cost to install solar panels in Steamboat Springs?
The average cost of solar panels in Steamboat Springs is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Steamboat Springs have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Steamboat Springs?
Even 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 their energy production 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.