Solar Panel Cost Guide in Timnath, CO (2024 Update)
- Timnath Solar Installation Cost: $14,824
- 25-Year Savings: $15,527
- Payback Period: 14.5 Years
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Average Cost of Solar Panels in Timnath
Find out what the average cost of solar panel installation is in Timnath.
Although the national average of solar panels is $2.66 per watt, solar panels in Timnath typically cost about 4.The average Timnath homeowner needs a 5.3-kilowatt system, which would cost about $14,824 with the federal tax credit, or $21,198 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Timnath homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Timnath can save around $18,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar panel company in Timnath for a customized estimate.
Solar savings over time in Timnath
| Year | Return on Investment |
|---|---|
| 1 years | $-13,856 |
| 3 years | $-11,920 |
| 5 years | $-9,983 |
| 7 years | $-8,047 |
| 9 years | $-6,111 |
| 11 years | $-4,175 |
| 13 years | $-2,238 |
| 15 years | $-302 |
| 17 years | $1,634 |
| 19 years | $3,570 |
| 21 years | $5,506 |
| 23 years | $7,443 |
| 25 years | $9,379 |
Top Solar Installers in Timnath
When going solar, many homeowners opt to go with a solar company since putting up solar panels yourself can be a time-consuming project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Timnath
Factors that Affect Solar Panel Costs in Timnath
There are a number of criteria that can affect your total 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
When it comes to estimating the price of solar panels in Timnath, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $3,980 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Timnath offer solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also adds to your overall costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Timnath, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The company’s size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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 | $11,422 | 15.1 years |
| 8 kW | $4.06 | $22,734 | $15,675 | 14.8 years |
| 10 kW | $3.98 | $27,860 | $20,151 | 14.5 years |
| 12 kW | $3.90 | $32,763 | $24,850 | 14.2 years |
| 14 kW | $3.82 | $37,444 | $29,772 | 13.9 years |
| 16 kW | $3.74 | $41,901 | $34,917 | 13.6 years |
| 18 kW | $3.66 | $46,136 | $40,284 | 13.3 years |
| 20 kW | $3.58 | $50,148 | $45,875 | 13.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies have various brands and types of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
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 Timnath, CO Solar Cost FAQs
What is the average cost of installing solar panels in Timnath?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $19,900 for a 5-kW system and $39,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Timnath, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 buy 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.