Solar Panel Cost Guide in Cherry Creek, CO (2024 Update)
- Cherry Creek Solar Installation Cost: $14,252
- 25-Year Savings: $17,802
- Payback Period: 13.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Cherry Creek
Find out what the average cost of a solar system is in Cherry Creek.
In Cherry Creek, solar panels cost about 4 per watt on average.Using this figure, a typical 5.1-kW system would cost about $14,252 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Cherry Creek homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $20,000 over 20 years on power bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cherry Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-13,284 |
| 3 years | $-11,348 |
| 5 years | $-9,412 |
| 7 years | $-7,475 |
| 9 years | $-5,539 |
| 11 years | $-3,603 |
| 13 years | $-1,667 |
| 15 years | $270 |
| 17 years | $2,206 |
| 19 years | $4,142 |
| 21 years | $6,078 |
| 23 years | $8,014 |
| 25 years | $9,951 |
Top Solar Installers in Cherry Creek
Trying to put up solar panels yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Cherry Creek
Factors that Affect Solar Panel Costs in Cherry Creek
The cost of installing a solar system in Cherry Creek can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your home, 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 around $3,980. There are many different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose 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
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can influence how much you pay. Cherry Creek’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, 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 | $4.14 | $17,385 | $14,792 | 13.5 years |
| 8 kW | $4.06 | $22,734 | $20,169 | 13.2 years |
| 10 kW | $3.98 | $27,860 | $25,768 | 13.0 years |
| 12 kW | $3.90 | $32,763 | $31,590 | 12.7 years |
| 14 kW | $3.82 | $37,444 | $37,636 | 12.5 years |
| 16 kW | $3.74 | $41,901 | $43,904 | 12.2 years |
| 18 kW | $3.66 | $46,136 | $50,395 | 11.9 years |
| 20 kW | $3.58 | $50,148 | $57,108 | 11.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- 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 like a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Cherry Creek, CO Solar Cost FAQs
How much does it cost to install solar panels in Cherry Creek?
The average cost of solar panels in Cherry Creek 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 stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Cherry Creek?
A solar panel system isn’t free in Cherry Creek, but there are some options that can make getting them more affordable, 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 switching to solar power worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 level 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.