Solar Panel Cost Guide in Twin Lakes, CO (2024 Update)

  • Twin Lakes Solar Installation Cost: $14,371
  • 25-Year Savings: $15,759
  • Payback Period: 14.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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

Find out how much it might cost to switch to solar power in Twin Lakes.

Although the national average of solar panels is $2.66 per watt, solar panels in Twin Lakes typically cost about 4.The average solar panel system size in Twin Lakes is around 5.2 kilowatts, meaning a cost of about $14,371 for a solar installation, or $20,551 before the 0 federal solar tax credit is applied.

These figures are just estimates, and your own solar costs will differ based on the amount of energy your home requires and what company you want to go with.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Twin Lakes see about $19,000 in savings on energy bills over 20 years.

Click the button below to get connected to a highly rated solar installer in your area for a custom quote.

Solar savings over time in Twin Lakes

Year Return on Investment
1 years $-13,403
3 years $-11,466
5 years $-9,530
7 years $-7,594
9 years $-5,658
11 years $-3,722
13 years $-1,785
15 years $151
17 years $2,087
19 years $4,023
21 years $5,960
23 years $7,896
25 years $9,832

Top Solar Installers in Twin Lakes

Although it's possible to install solar panels on your own, it involves extra effort and handiness. That's why almost all homeowners choose to hire a solar panel installer. Plus, if you’d like to maximize your investment in solar power, opting for a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.

If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers nearby:

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

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 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 is determined by several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Twin Lakes average.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Twin Lakes homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panels can influence how much you pay. Twin Lakes’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 $4.14 $17,385 $12,244 14.7 years
8 kW $4.06 $22,734 $16,771 14.4 years
10 kW $3.98 $27,860 $21,521 14.1 years
12 kW $3.90 $32,763 $26,494 13.8 years
14 kW $3.82 $37,444 $31,689 13.5 years
16 kW $3.74 $41,901 $37,108 13.3 years
18 kW $3.66 $46,136 $42,750 13.0 years
20 kW $3.58 $50,148 $48,614 12.7 years

How to Save on Solar Panels

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

  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.

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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Twin Lakes, CO Solar Cost FAQs

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

The average cost of solar panels in Twin Lakes is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.

Are solar panels 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 you can take advantage of.

Does Twin Lakes have a net metering program?

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

What solar power system size is right for my home?

To figure out what solar panel system size you need, you should find out how much energy your home needs 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 household 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.

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