Solar Panel Cost Guide in Welby, CO (2024 Update)
- Welby Solar Installation Cost: $14,371
- 25-Year Savings: $17,032
- Payback Period: 13.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Welby
We break down average solar pricing in Welby.
The average cost of a solar panel system in Welby is 4 per watt.To account for the typical energy needs of the average home in Welby, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,371, or $20,551 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with.With typical savings of about $20,000 on power bills over 20 years, many homeowners in Welby find installing solar panels can be quite rewarding.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Welby
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 Welby
Many homeowners decide to use a solar installer since installing solar panels yourself can be challenging. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- 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 Welby
Factors that Affect Solar Panel Costs in Welby
Though the average cost of a solar system in Welby is $14,371, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,980. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Welby, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Welby provide solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating in Welby, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, 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 | $13,725 | 14.0 years |
8 kW | $4.06 | $22,734 | $18,745 | 13.7 years |
10 kW | $3.98 | $27,860 | $23,989 | 13.4 years |
12 kW | $3.90 | $32,763 | $29,455 | 13.2 years |
14 kW | $3.82 | $37,444 | $35,145 | 12.9 years |
16 kW | $3.74 | $41,901 | $41,057 | 12.6 years |
18 kW | $3.66 | $46,136 | $47,192 | 12.4 years |
20 kW | $3.58 | $50,148 | $53,550 | 12.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, 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:
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should go with, since different companies have access to different panels.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Welby, CO Solar Cost FAQs
How much does it cost to install solar panels in Welby?
The average cost of solar panels in Welby is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Welby?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.