Solar Panel Cost Guide in Timnath, CO (Mar 2023)
- Timnath Solar Installation Cost: $10,018
- 25-Year Savings: $15,529
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Timnath
Find out how much it might cost to make the switch to solar in Timnath.
In Timnath, solar panels cost about 2.69 per watt on average. The average Timnath homeowner needs a 5.3-kilowatt system, which would cost about $10,018 with the federal tax credit, or $14,326 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of going solar can vary based on a few factors, such as how many panels you need, your energy consumption and what company you go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $18,000 over 20 years on power bills.
To receive a free quote from a top solar installation company in Timnath, you can click the button below.
Solar savings over time in Timnath
| Year | Return on Investment |
|---|---|
| 1 years | $-8,996 |
| 3 years | $-6,952 |
| 5 years | $-4,908 |
| 7 years | $-2,865 |
| 9 years | $-821 |
| 11 years | $1,223 |
| 13 years | $3,266 |
| 15 years | $5,310 |
| 17 years | $7,354 |
| 19 years | $9,398 |
| 21 years | $11,441 |
| 23 years | $13,485 |
| 25 years | $15,529 |
Top Solar Installers in Timnath
When making the switch to solar, many homeowners decide to use a solar installer since installing solar panels yourself can be a challenging project. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Timnath
Factors that Affect Solar Panel Costs in Timnath
For many Timnath homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Timnath, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Timnath homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your total costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Timnath, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. The company's size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have 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 discount 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 | $2.80 | $11,750 | $17,057 | 10.2 years |
| 8 kW | $2.74 | $15,365 | $23,044 | 10.0 years |
| 10 kW | $2.69 | $18,830 | $29,181 | 9.8 years |
| 12 kW | $2.64 | $22,144 | $35,470 | 9.6 years |
| 14 kW | $2.58 | $25,308 | $41,908 | 9.4 years |
| 16 kW | $2.53 | $28,320 | $48,498 | 9.2 years |
| 18 kW | $2.47 | $31,182 | $55,238 | 9.0 years |
| 20 kW | $2.42 | $33,894 | $62,129 | 8.8 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which company you should go with, since different companies have access to different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Warranty: A high-quality company rises above other companies by offering 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 Timnath, CO Solar Cost FAQs
How much does it cost to install solar panels in Timnath?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my energy bills?
It is possible to erase 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.
How often do you have to replace solar panels?
Although 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 once you've had them for that long or you can continue to use 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.