Solar Panel Cost Guide in Florence, CO (2024 Update)
- Florence Solar Installation Cost: $14,048
- 25-Year Savings: $27,514
- Payback Period: 9.5 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 Florence
We break down average solar pricing in Florence.
In Florence, solar panels cost about 4 per watt on average.The average solar panel system size in Florence is around 5.0 kilowatts, meaning a cost of about $14,048 for a solar installation, or $20,089 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar system you choose, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $28,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Florence
| 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 Florence
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make switching to solar power much easier. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
Working with a licensed solar installer 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 Florence
Factors that Affect Solar Panel Costs in Florence
There are several factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of solar panels in Florence, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by around $3,980 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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 falls within your budget.
Solar Financing Terms
Most solar companies in Florence offer solar loans, which reduce your upfront costs of installing solar.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Florence, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment 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 | $26,653 | 9.9 years |
| 8 kW | $4.06 | $22,734 | $35,983 | 9.7 years |
| 10 kW | $3.98 | $27,860 | $45,537 | 9.5 years |
| 12 kW | $3.90 | $32,763 | $55,312 | 9.3 years |
| 14 kW | $3.82 | $37,444 | $65,311 | 9.1 years |
| 16 kW | $3.74 | $41,901 | $75,533 | 8.9 years |
| 18 kW | $3.66 | $46,136 | $85,978 | 8.7 years |
| 20 kW | $3.58 | $50,148 | $96,645 | 8.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which company you should go with, since different companies have access to different panels.
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: One of the most important things to understand when adopting solar power 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: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
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 Florence, CO Solar Cost FAQs
What is the average cost of installing solar panels in Florence?
This is a difficult question to answer precisely, because the cost depends on many 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Florence?
Solar panels aren’t free in Florence, but there are some options that can make getting them more feasible, 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 energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.