Solar Panel Cost Guide in Westminster, CO (2023 Update)
- Westminster Solar Installation Cost: $9,797
- 25-Year Savings: $15,906
- Payback Period: 9.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Westminster
Let's have a look at the average cost of solar in Westminster.
While the national average of solar panels is $2.66 per watt, solar panels in Westminster typically cost about 2.69. Using this figure, a typical 5.2-kW system would cost about $9,792 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Westminster can save around $19,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Westminster
| Year | Return on Investment |
|---|---|
| 1 years | $-8,829 |
| 3 years | $-6,893 |
| 5 years | $-4,957 |
| 7 years | $-3,020 |
| 9 years | $-1,084 |
| 11 years | $852 |
| 13 years | $2,788 |
| 15 years | $4,725 |
| 17 years | $6,661 |
| 19 years | $8,597 |
| 21 years | $10,533 |
| 23 years | $12,469 |
| 25 years | $14,406 |
Top Solar Installers in Westminster
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make converting to solar power much easier. The expertise that solar installers provide can be helpful as well, especially if you don't quite know what brand of solar equipment you need.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Westminster:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Westminster
Factors that Affect Solar Panel Costs in Westminster
The cost of installing a solar system in Westminster can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Westminster. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Westminster average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your overall costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Westminster is the company you get to install your PV system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that provide a range of services at different price points. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk 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 | $2.80 | $11,750 | $17,891 | 9.9 years |
| 8 kW | $2.74 | $15,365 | $24,156 | 9.7 years |
| 10 kW | $2.69 | $18,830 | $30,572 | 9.5 years |
| 12 kW | $2.64 | $22,144 | $37,138 | 9.3 years |
| 14 kW | $2.58 | $25,308 | $43,855 | 9.1 years |
| 16 kW | $2.53 | $28,320 | $50,722 | 9.0 years |
| 18 kW | $2.47 | $31,182 | $57,740 | 8.8 years |
| 20 kW | $2.42 | $33,894 | $64,909 | 8.6 years |
How to Save on Solar Panels
There are numerous companies available in Westminster, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Westminster, CO Solar Cost FAQs
What is the average cost of installing solar panels in Westminster?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Westminster?
You can't get solar panels for free in Westminster. However, you may still be able to install 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.
Do solar panels increase the value of your home?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't go for 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 how much 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 install 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.