Solar Panel Cost Guide in Woodmoor, CO (2024 Update)
- Woodmoor Solar Installation Cost: $13,979
- 25-Year Savings: $21,359
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Woodmoor
Let’s take a look at the average cost of solar in Woodmoor.
Although the national average of solar panels is $2.66 per watt, solar panels in Woodmoor typically cost around 4.The average Woodmoor homeowner needs a 5.0-kilowatt system, which would cost about $13,979 with the federal tax credit, or $19,990 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of equipment you want, your solar contractor and more.Even with the significant initial cost, the average Woodmoor homeowner can save about $23,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar installer in Woodmoor that can help you get a more accurate cost estimate for your home.
Solar savings over time in Woodmoor
| Year | Return on Investment |
|---|---|
| 1 years | $-12,877 |
| 3 years | $-10,671 |
| 5 years | $-8,466 |
| 7 years | $-6,260 |
| 9 years | $-4,054 |
| 11 years | $-1,849 |
| 13 years | $357 |
| 15 years | $2,562 |
| 17 years | $4,768 |
| 19 years | $6,974 |
| 21 years | $9,179 |
| 23 years | $11,385 |
| 25 years | $13,590 |
Top Solar Installers in Woodmoor
Trying to put up solar panels on your own can be a dangerous task, which is why hiring a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy consumption, but going with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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
See all of the solar companies in Woodmoor
Factors that Affect Solar Panel Costs in Woodmoor
The cost of installing a solar system in Woodmoor can vary by more than $10,000 from home to home. Your actual cost is determined by 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions 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 researching a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Woodmoor, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $19,453 | 11.8 years |
| 8 kW | $4.06 | $22,734 | $26,383 | 11.6 years |
| 10 kW | $3.98 | $27,860 | $33,536 | 11.3 years |
| 12 kW | $3.90 | $32,763 | $40,911 | 11.1 years |
| 14 kW | $3.82 | $37,444 | $48,510 | 10.9 years |
| 16 kW | $3.74 | $41,901 | $56,332 | 10.7 years |
| 18 kW | $3.66 | $46,136 | $64,376 | 10.4 years |
| 20 kW | $3.58 | $50,148 | $72,643 | 10.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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
EcoWatch's Woodmoor, CO Solar Cost FAQs
What is the average cost of installing solar panels in Woodmoor?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $19,900 for a 5-kW system and $39,800 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 usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Woodmoor is currently $613,524, which means you could be looking at a value of about $25,154 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Woodmoor is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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.