Solar Panel Cost Guide in Trinidad, CO (Mar 2023)
- Trinidad Solar Installation Cost: $9,170
- 25-Year Savings: $28,028
- Payback Period: 6.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Trinidad
Here's how much it might cost to switch to solar power in Trinidad.
In Trinidad, solar panels cost about 2.69 per watt on average. Using this figure, a typical 4.9-kW system would cost about $9,170 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will differ based on your energy needs and what company you want to go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $29,000 over 20 years on energy bills.
To receive a free quote from a pre-vetted solar installation company in Trinidad, you can click the button below.
Solar savings over time in Trinidad
| Year | Return on Investment |
|---|---|
| 1 years | $-7,682 |
| 3 years | $-4,706 |
| 5 years | $-1,731 |
| 7 years | $1,245 |
| 9 years | $4,221 |
| 11 years | $7,197 |
| 13 years | $10,173 |
| 15 years | $13,149 |
| 17 years | $16,124 |
| 19 years | $19,100 |
| 21 years | $22,076 |
| 23 years | $25,052 |
| 25 years | $28,028 |
Top Solar Installers in Trinidad
When making the switch to solar, many homeowners opt to hire a solar installation company since putting up solar panels yourself can be a challenging project. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Trinidad
Factors that Affect Solar Panel Costs in Trinidad
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use 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 brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid choice because they decrease 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you're looking for and also is within your budget.
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
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
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 Trinidad, CO Solar Cost FAQs
How much does it cost to install solar panels in Trinidad?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
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 how much energy they produce 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.