Solar Panel Cost Guide in Westminster, CO (2024 Update)
- Westminster Solar Installation Cost: $14,495
- 25-Year Savings: $15,906
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Westminster
Here’s how much it might cost to make the switch to solar in Westminster.
The national average cost of solar panels is $2.66 per watt, but in Westminster it’s 4 per watt.Using this figure, a typical 5.2-kW system would cost about $14,495 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Westminster depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Westminster see about $19,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Westminster for a quote for your home.
Solar savings over time in Westminster
| Year | Return on Investment |
|---|---|
| 1 years | $-13,527 |
| 3 years | $-11,591 |
| 5 years | $-9,655 |
| 7 years | $-7,719 |
| 9 years | $-5,782 |
| 11 years | $-3,846 |
| 13 years | $-1,910 |
| 15 years | $26 |
| 17 years | $1,963 |
| 19 years | $3,899 |
| 21 years | $5,835 |
| 23 years | $7,771 |
| 25 years | $9,707 |
Top Solar Installers in Westminster
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar company can make converting to solar power much easier. Because solar panels are exposed to the elements every day, 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.
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 near you:
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
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
See all of the solar companies in Westminster
Factors that Affect Solar Panel Costs in Westminster
For many Westminster homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Westminster, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,980.The type of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Westminster to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.However, the interest on solar loans also increases your total costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Westminster, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Westminster know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,256 | 14.7 years |
| 8 kW | $4.06 | $22,734 | $16,788 | 14.4 years |
| 10 kW | $3.98 | $27,860 | $21,542 | 14.1 years |
| 12 kW | $3.90 | $32,763 | $26,519 | 13.8 years |
| 14 kW | $3.82 | $37,444 | $31,718 | 13.5 years |
| 16 kW | $3.74 | $41,901 | $37,141 | 13.3 years |
| 18 kW | $3.66 | $46,136 | $42,787 | 13.0 years |
| 20 kW | $3.58 | $50,148 | $48,655 | 12.7 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- 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 acquire and how long the project will take.
- Warranty: If you’re concerned about the endurance of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
EcoWatch's Westminster, CO Solar Cost FAQs
What is the average cost of installing solar panels in Westminster?
The average cost of solar panels in Westminster 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Westminster?
Solar panels aren’t free in Westminster, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $988.03 per year.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.