Solar Panel Cost Guide in Twin Lakes, CO (Mar 2023)

  • Twin Lakes Solar Installation Cost: $9,716
  • 25-Year Savings: $15,755
  • Payback Period: 9.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Twin Lakes

We break down average solar pricing in Twin Lakes.

The average cost of a solar system in Twin Lakes is 2.69 per watt. Using this figure, a typical 5.2-kW system would cost about $9,716 before the 30% federal solar tax credit is applied.

These figures are just estimates, and your own solar costs may vary based on factors unique to your home and what company you choose to go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Twin Lakes can save around $19,000 on their electricity bills over 20 years.

To calculate your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in Twin Lakes

Year Return on Investment
1 years $-8,697
3 years $-6,660
5 years $-4,622
7 years $-2,584
9 years $-546
11 years $1,491
13 years $3,529
15 years $5,567
17 years $7,605
19 years $9,642
21 years $11,680
23 years $13,718
25 years $15,755

Top Solar Installers in Twin Lakes

Although you can install solar panels on your own, it requires extra effort and handiness. Because of that, most people choose to hire a solar panel installer. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.

If you'd like to switch to solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers in Twin Lakes:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Twin Lakes

Factors that Affect Solar Panel Costs in Twin Lakes

The cost of installing a solar system in Twin Lakes can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Twin Lakes. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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 additional equipment 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 Twin Lakes homeowners opt to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Twin Lakes, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion 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 $17,879 9.9 years
8 kW $2.74 $15,365 $24,139 9.7 years
10 kW $2.69 $18,830 $30,551 9.5 years
12 kW $2.64 $22,144 $37,113 9.3 years
14 kW $2.58 $25,308 $43,826 9.2 years
16 kW $2.53 $28,320 $50,689 9.0 years
18 kW $2.47 $31,182 $57,703 8.8 years
20 kW $2.42 $33,894 $64,868 8.6 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
  • Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Twin Lakes, CO Solar Cost FAQs

How much does it cost to install solar panels in Twin Lakes?

This is a tough question to answer exactly, 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Twin Lakes?

Solar panels aren't free in Twin Lakes, 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 can further reduce the cost.

Does Twin Lakes have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide 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.

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