Solar Panel Cost Guide in Stratmoor, CO (2023 Update)
- Stratmoor Solar Installation Cost: $9,453
- 25-Year Savings: $21,100
- Payback Period: 7.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Stratmoor
Here's how much it might cost to switch to solar power in Stratmoor.
The average cost of a solar panel system in Stratmoor is 2.69 per watt. Using this figure, a typical 5.0-kW system would cost about $9,453 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you may differ based on factors unique to your home and what company you choose to go with. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Stratmoor see about $23,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar panel company in your area for a customized estimate.
Solar savings over time in Stratmoor
| Year | Return on Investment |
|---|---|
| 1 years | $-8,231 |
| 3 years | $-5,786 |
| 5 years | $-3,342 |
| 7 years | $-898 |
| 9 years | $1,546 |
| 11 years | $3,990 |
| 13 years | $6,435 |
| 15 years | $8,879 |
| 17 years | $11,323 |
| 19 years | $13,767 |
| 21 years | $16,211 |
| 23 years | $18,655 |
| 25 years | $21,100 |
Top Solar Installers in Stratmoor
Many homeowners choose to use a solar panel installer since trying to install solar panels yourself can be time-consuming. Plus, if you aren't sure what brand of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Stratmoor
Factors that Affect Solar Panel Costs in Stratmoor
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Stratmoor: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require 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 kind of solar equipment you choose can bring your price up or down 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 over time on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Stratmoor average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the principal 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 significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Stratmoor, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. The company's size can sometimes play the most considerable role in the cost. 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 generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $24,783 | 8.0 years |
| 8 kW | $2.74 | $15,365 | $33,345 | 7.9 years |
| 10 kW | $2.69 | $18,830 | $42,058 | 7.7 years |
| 12 kW | $2.64 | $22,144 | $50,921 | 7.6 years |
| 14 kW | $2.58 | $25,308 | $59,935 | 7.4 years |
| 16 kW | $2.53 | $28,320 | $69,100 | 7.3 years |
| 18 kW | $2.47 | $31,182 | $78,416 | 7.1 years |
| 20 kW | $2.42 | $33,894 | $87,882 | 7.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Stratmoor, CO Solar Cost FAQs
What is the average cost of installing solar panels in Stratmoor?
The average cost of solar panels in Stratmoor 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Stratmoor?
A solar panel system isn't free in Stratmoor, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Stratmoor have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.