Solar Panel Cost Guide in Welby, CO (Mar 2023)
- Welby Solar Installation Cost: $9,716
- 25-Year Savings: $17,029
- Payback Period: 9.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Welby
We go over average solar pricing in Welby.
In Welby, solar panels cost about 2.69 per watt on average. The average solar panel system size in Welby is around 5.2 kilowatts, meaning a cost of about $9,716 for a solar installation, or $13,894 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Welby based on a few factors, such as the kind of solar panels you choose and the solar company you hire. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on energy bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Welby
| Year | Return on Investment |
|---|---|
| 1 years | $-8,646 |
| 3 years | $-6,507 |
| 5 years | $-4,367 |
| 7 years | $-2,228 |
| 9 years | $-88 |
| 11 years | $2,052 |
| 13 years | $4,191 |
| 15 years | $6,331 |
| 17 years | $8,470 |
| 19 years | $10,610 |
| 21 years | $12,750 |
| 23 years | $14,889 |
| 25 years | $17,029 |
Top Solar Installers in Welby
When going solar, many homeowners prefer to go with a solar installation company since DIY solar panel installation can be a difficult project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're on the hunt for a solar company in Welby, we've organized a list of our top suggestions here:
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 Welby
Factors that Affect Solar Panel Costs in Welby
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Welby: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,690. There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that are more efficient tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Welby homeowners decide to finance their solar panel systems to make going solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Welby, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — 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 choose a company that provides the products, warranties and services you're looking for and also fit into 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 | $19,359 | 9.4 years |
| 8 kW | $2.74 | $15,365 | $26,114 | 9.3 years |
| 10 kW | $2.69 | $18,830 | $33,019 | 9.1 years |
| 12 kW | $2.64 | $22,144 | $40,075 | 8.9 years |
| 14 kW | $2.58 | $25,308 | $47,281 | 8.7 years |
| 16 kW | $2.53 | $28,320 | $54,638 | 8.5 years |
| 18 kW | $2.47 | $31,182 | $62,146 | 8.4 years |
| 20 kW | $2.42 | $33,894 | $69,804 | 8.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 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 $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Welby?
You can't get solar panels for free in Welby. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is going solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.