Solar Panel Cost Guide in Trinidad, CO (2023 Update)
- Trinidad Solar Installation Cost: $9,168
- 25-Year Savings: $28,030
- Payback Period: 6.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Trinidad
We go over average solar pricing in Trinidad.
The average cost of a solar system in Trinidad is 2.69 per watt. The average solar panel system size in Trinidad is around 4.9 kilowatts, meaning a cost of about $9,170 for a solar installation, or $13,113 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Trinidad based on several factors, such as the type of solar panels you choose and the solar company you hire. With typical savings of about $29,000 on energy bills over 20 years, many homeowners in Trinidad find installing solar panels can be quite rewarding.
You can click the button below to get connected with a top solar company in Trinidad that can help you get a more accurate cost estimate for your home.
Solar savings over time in Trinidad
| Year | Return on Investment |
|---|---|
| 1 years | $-9,044 |
| 3 years | $-8,796 |
| 5 years | $-8,548 |
| 7 years | $-8,300 |
| 9 years | $-8,052 |
| 11 years | $-7,804 |
| 13 years | $-7,556 |
| 15 years | $-7,308 |
| 17 years | $-7,060 |
| 19 years | $-6,812 |
| 21 years | $-6,564 |
| 23 years | $-6,316 |
| 25 years | $-6,068 |
Top Solar Installers in Trinidad
Many homeowners choose to use a solar panel company since trying to install solar panels by yourself can be a labor-intensive endeavor. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers in Trinidad:
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 Trinidad
Factors that Affect Solar Panel Costs in Trinidad
For many Trinidad homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Trinidad, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,690 per kilowatt in Trinidad. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Trinidad, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Trinidad homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your all-in costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can influence the cost. Trinidad's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $34,091 | 6.4 years |
| 8 kW | $2.74 | $15,365 | $45,756 | 6.3 years |
| 10 kW | $2.69 | $18,830 | $57,571 | 6.2 years |
| 12 kW | $2.64 | $22,144 | $69,538 | 6.0 years |
| 14 kW | $2.58 | $25,308 | $81,654 | 5.9 years |
| 16 kW | $2.53 | $28,320 | $93,922 | 5.8 years |
| 18 kW | $2.47 | $31,182 | $106,340 | 5.7 years |
| 20 kW | $2.42 | $33,894 | $118,909 | 5.5 years |
How to Save on Solar Panels
There are a large number of companies available in Trinidad, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Not all solar companies carry 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.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Trinidad, CO Solar Cost FAQs
How much does it cost to install solar panels in Trinidad?
The average cost of solar panels in Trinidad is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Trinidad?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Trinidad, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.