Solar Panel Cost Guide in Derby, CO (2024 Update)
- Derby Solar Installation Cost: $14,371
- 25-Year Savings: $16,777
- Payback Period: 13.6 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 Derby
We go over average solar pricing in Derby.
While the national average of solar panels is $2.66 per watt, solar panels in Derby generally cost around 4.Because a 5.2-kW system is needed to cover the energy needs of a typical home in Derby, the average price of going solar will be about $14,371 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Derby can save about $20,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Derby
Year | Return on Investment |
---|---|
1 years | $-13,403 |
3 years | $-11,466 |
5 years | $-9,530 |
7 years | $-7,594 |
9 years | $-5,658 |
11 years | $-3,722 |
13 years | $-1,785 |
15 years | $151 |
17 years | $2,087 |
19 years | $4,023 |
21 years | $5,960 |
23 years | $7,896 |
25 years | $9,832 |
Top Solar Installers in Derby
When switching to solar energy, many homeowners decide to use a solar installer since putting up solar panels yourself can be a difficult project. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
Working with a professional solar installer can help you make the most of your investment in solar. 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 Derby
Factors that Affect Solar Panel Costs in Derby
The cost of installing a solar system in Derby can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Derby average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Derby homeowners opt to finance their solar panel systems to make going solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Derby, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also fits within your budget.
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 | $13,429 | 14.1 years |
8 kW | $4.06 | $22,734 | $18,351 | 13.8 years |
10 kW | $3.98 | $27,860 | $23,495 | 13.6 years |
12 kW | $3.90 | $32,763 | $28,863 | 13.3 years |
14 kW | $3.82 | $37,444 | $34,454 | 13.0 years |
16 kW | $3.74 | $41,901 | $40,267 | 12.7 years |
18 kW | $3.66 | $46,136 | $46,304 | 12.5 years |
20 kW | $3.58 | $50,148 | $52,563 | 12.2 years |
How to Save on Solar Panels
There are a lot of companies available in Derby, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: An important thing 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 what the project timeline is.
- Reputation: Long-running companies 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.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Derby, CO Solar Cost FAQs
What is the average cost of installing solar panels in Derby?
The average cost of solar panels in Derby 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 kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Derby?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Derby, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 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 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.