Solar Panel Cost Guide in Woodmoor, CO (2023 Update)
- Woodmoor Solar Installation Cost: $9,453
- 25-Year Savings: $21,354
- Payback Period: 7.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Woodmoor
We break down average solar pricing in Woodmoor.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Woodmoor, the average cost of a solar system is 2.69 per watt. Since a 5.0-kW system is needed to cover the energy needs of a typical home in Woodmoor, the average price of going solar will be about $9,453 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what company you go with. Many homeowners find going solar is a solid investment. The average homeowner in Woodmoor can save about $23,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Woodmoor
| Year | Return on Investment |
|---|---|
| 1 years | $-8,220 |
| 3 years | $-5,756 |
| 5 years | $-3,291 |
| 7 years | $-827 |
| 9 years | $1,638 |
| 11 years | $4,102 |
| 13 years | $6,567 |
| 15 years | $9,032 |
| 17 years | $11,496 |
| 19 years | $13,961 |
| 21 years | $16,425 |
| 23 years | $18,890 |
| 25 years | $21,354 |
Top Solar Installers in Woodmoor
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 panel installer can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Woodmoor
Factors that Affect Solar Panel Costs in Woodmoor
For many Woodmoor homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Woodmoor, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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 $2,690. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Woodmoor, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Woodmoor homeowners choose to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Woodmoor is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $25,087 | 8.0 years |
| 8 kW | $2.74 | $15,365 | $33,751 | 7.8 years |
| 10 kW | $2.69 | $18,830 | $42,566 | 7.7 years |
| 12 kW | $2.64 | $22,144 | $51,531 | 7.5 years |
| 14 kW | $2.58 | $25,308 | $60,646 | 7.4 years |
| 16 kW | $2.53 | $28,320 | $69,913 | 7.2 years |
| 18 kW | $2.47 | $31,182 | $79,330 | 7.1 years |
| 20 kW | $2.42 | $33,894 | $88,897 | 6.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar company 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 should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Before you sign a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Woodmoor, CO Solar Cost FAQs
How much does it cost to install solar panels in Woodmoor?
This is a tough question to answer precisely, because the cost depends on a variety of 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 higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Woodmoor?
Solar panels aren't free in Woodmoor, 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 electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Woodmoor, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Woodmoor?
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 amount 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.