Solar Panel Cost Guide in Woodland Park, CO (2023 Update)
- Woodland Park Solar Installation Cost: $9,773
- 25-Year Savings: $22,943
- Payback Period: 7.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Woodland Park
We break down average solar pricing in Woodland Park.
The average cost of a solar system in Woodland Park is 2.69 per watt. The average solar panel system size in Woodland Park is around 5.2 kilowatts, meaning a cost of about $9,773 for a solar installation, or $13,975 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Woodland Park homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the high upfront cost, the average Woodland Park homeowner can save about $24,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Woodland Park
| Year | Return on Investment |
|---|---|
| 1 years | $-8,464 |
| 3 years | $-5,847 |
| 5 years | $-3,230 |
| 7 years | $-612 |
| 9 years | $2,005 |
| 11 years | $4,622 |
| 13 years | $7,239 |
| 15 years | $9,857 |
| 17 years | $12,474 |
| 19 years | $15,091 |
| 21 years | $17,708 |
| 23 years | $20,326 |
| 25 years | $22,943 |
Top Solar Installers in Woodland Park
When going solar, many homeowners prefer to go with a solar installer since putting up a solar system yourself can be a challenging project. The expertise that solar companies offer can be helpful as well, particularly if you aren't sure what type of solar equipment would be right for your home.
If you're searching for a solar company in Woodland Park, the EcoWatch team has compiled 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
See all of the solar companies in Woodland Park
Factors that Affect Solar Panel Costs in Woodland Park
There are several factors that can influence your solar system 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
When it comes to estimating the price of a solar panel system in Woodland Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. The kind of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You'll also need to consider 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
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Woodland Park homeowners choose to finance their solar panel systems to make paying for solar more affordable. While solar loans make adopting solar energy more accessible for Woodland Park homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence the cost. Woodland Park's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of 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 larger companies.
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 | $26,077 | 7.8 years |
| 8 kW | $2.74 | $15,365 | $35,071 | 7.6 years |
| 10 kW | $2.69 | $18,830 | $44,215 | 7.5 years |
| 12 kW | $2.64 | $22,144 | $53,510 | 7.3 years |
| 14 kW | $2.58 | $25,308 | $62,956 | 7.2 years |
| 16 kW | $2.53 | $28,320 | $72,552 | 7.0 years |
| 18 kW | $2.47 | $31,182 | $82,299 | 6.9 years |
| 20 kW | $2.42 | $33,894 | $92,196 | 6.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been operating for many years likely have a good 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.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which company you should go with, since different companies have different panels.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Woodland Park, CO Solar Cost FAQs
What is the average cost of installing solar panels in Woodland Park?
The average cost of solar panels in Woodland Park is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Woodland Park is currently $326,100, which means you can look forward to a value of about $13,370 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Woodland Park is a fruitful investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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 home 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.