Solar Panel Cost Guide in Wheat Ridge, CO (2023 Update)
- Wheat Ridge Solar Installation Cost: $9,886
- 25-Year Savings: $16,305
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wheat Ridge
Let's have a look at the average cost of solar in Wheat Ridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wheat Ridge, the average cost of solar panels is 2.69 per watt. The average Wheat Ridge homeowner needs a 5.2-kilowatt system, which would cost about $9,886 with the federal tax credit, or $14,137 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely vary based on your energy needs and what company you go with. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $19,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar company in your area for a customized estimate.
Solar savings over time in Wheat Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-8,838 |
| 3 years | $-6,743 |
| 5 years | $-4,648 |
| 7 years | $-2,552 |
| 9 years | $-457 |
| 11 years | $1,638 |
| 13 years | $3,734 |
| 15 years | $5,829 |
| 17 years | $7,924 |
| 19 years | $10,019 |
| 21 years | $12,115 |
| 23 years | $14,210 |
| 25 years | $16,305 |
Top Solar Installers in Wheat Ridge
When switching to solar energy, many homeowners decide to use a solar installer since handling can be a difficult project. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
If you're on the hunt for a solar company in Wheat Ridge, 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 Wheat Ridge
Factors that Affect Solar Panel Costs in Wheat Ridge
There are a number of factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar 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, your total will most likely increase by nearly $2,690. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Wheat Ridge have solar loans, which reduce your upfront costs of installing a solar system. Although solar loans make switching to solar energy more accessible for Wheat Ridge homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Companies that only sell high-efficiency and high-priced products — 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 decide on the company that has the products, warranties and services you want 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 | $18,192 | 9.8 years |
| 8 kW | $2.74 | $15,365 | $24,557 | 9.6 years |
| 10 kW | $2.69 | $18,830 | $31,072 | 9.4 years |
| 12 kW | $2.64 | $22,144 | $37,739 | 9.2 years |
| 14 kW | $2.58 | $25,308 | $44,556 | 9.1 years |
| 16 kW | $2.53 | $28,320 | $51,524 | 8.9 years |
| 18 kW | $2.47 | $31,182 | $58,642 | 8.7 years |
| 20 kW | $2.42 | $33,894 | $65,911 | 8.5 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the kinds 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:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- 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 what services your solar company will provide and the terms of the warranty.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- 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 large role in the company you opt for.
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 Wheat Ridge, CO Solar Cost FAQs
What is the average cost of installing solar panels in Wheat Ridge?
This is a tough question to answer exactly, 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Wheat Ridge?
Solar panels aren't free in Wheat Ridge, 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 can further reduce the cost.
Is it worth going solar in Wheat Ridge?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How many solar panels should I get 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 get 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.