Solar Panel Cost Guide in Cañon City, CO (2024 Update)
- Cañon City Solar Installation Cost: $14,048
- 25-Year Savings: $23,567
- Payback Period: 10.6 Years
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Average Cost of Solar Panels in Cañon City
Let’s have a look at the average cost of solar in Cañon City.
The average cost of a solar system in Cañon City is 4 per watt.To account for the typical energy needs of the average home in Cañon City, most homeowners require a 5.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,048, or $20,089 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Cañon City based on a few factors, such as the model of solar panels you choose and the solar company you hire.But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $26,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Cañon City for a quote for your home.
Solar savings over time in Cañon City
| Year | Return on Investment |
|---|---|
| 1 years | $-12,662 |
| 3 years | $-9,891 |
| 5 years | $-7,120 |
| 7 years | $-4,349 |
| 9 years | $-1,578 |
| 11 years | $1,193 |
| 13 years | $3,964 |
| 15 years | $6,735 |
| 17 years | $9,506 |
| 19 years | $12,277 |
| 21 years | $15,048 |
| 23 years | $17,819 |
| 25 years | $20,590 |
Top Solar Installers in Cañon City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of an installer can make swapping over to solar power much easier. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for your home.
If you're on the hunt for a solar installer in Cañon City, we've 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Cañon City
Factors that Affect Solar Panel Costs in Cañon City
There are several 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 performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Cañon City, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by around $3,980 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Cañon City homeowners opt to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your all-in costs, so it’s important to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Cañon City know more about local solar incentives and can help you learn about 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 end up saving you 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 | $21,957 | 11.0 years |
| 8 kW | $4.06 | $22,734 | $29,721 | 10.8 years |
| 10 kW | $3.98 | $27,860 | $37,709 | 10.6 years |
| 12 kW | $3.90 | $32,763 | $45,919 | 10.4 years |
| 14 kW | $3.82 | $37,444 | $54,352 | 10.2 years |
| 16 kW | $3.74 | $41,901 | $63,008 | 10.0 years |
| 18 kW | $3.66 | $46,136 | $71,887 | 9.8 years |
| 20 kW | $3.58 | $50,148 | $80,989 | 9.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Cañon City, CO Solar Cost FAQs
What is the average cost of installing solar panels in Cañon City?
The average cost of solar panels in Cañon City 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cañon City is currently $273,811, which means you can look forward to a value of about $11,226 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cañon City 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 needs and the average daily sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to account for 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.