Solar Panel Cost Guide in Fort Morgan, CO (2024 Update)
- Fort Morgan Solar Installation Cost: $14,350
- 25-Year Savings: $14,648
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Fort Morgan
We break down average solar pricing in Fort Morgan.
The national average cost of solar panels is $2.66 per watt, but in Fort Morgan it’s 4 per watt.To account for the typical energy usage of the average home in Fort Morgan, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $14,350, or $20,520 before the federal solar tax credit of 0 is applied.
The actual price you pay can go above or below the average in Fort Morgan depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Fort Morgan see about $19,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Fort Morgan for a quote for your home.
Solar savings over time in Fort Morgan
| Year | Return on Investment |
|---|---|
| 1 years | $-13,680 |
| 3 years | $-12,339 |
| 5 years | $-10,999 |
| 7 years | $-9,659 |
| 9 years | $-8,319 |
| 11 years | $-6,979 |
| 13 years | $-5,639 |
| 15 years | $-4,298 |
| 17 years | $-2,958 |
| 19 years | $-1,618 |
| 21 years | $-278 |
| 23 years | $1,062 |
| 25 years | $2,402 |
Top Solar Installers in Fort Morgan
When going solar, many homeowners choose to use a solar company since installing solar panels yourself can be a challenging project. Local solar installers 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 vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Fort Morgan
Factors that Affect Solar Panel Costs in Fort Morgan
For many Fort Morgan homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Fort Morgan, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $3,980 per kilowatt in Fort Morgan.There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Fort Morgan have solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also adds to your overall costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you get to install your solar system can influence how much it costs. Fort Morgan’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $10,976 | 15.3 years |
| 8 kW | $4.06 | $22,734 | $15,081 | 15.0 years |
| 10 kW | $3.98 | $27,860 | $19,408 | 14.7 years |
| 12 kW | $3.90 | $32,763 | $23,959 | 14.4 years |
| 14 kW | $3.82 | $37,444 | $28,732 | 14.1 years |
| 16 kW | $3.74 | $41,901 | $33,728 | 13.9 years |
| 18 kW | $3.66 | $46,136 | $38,947 | 13.6 years |
| 20 kW | $3.58 | $50,148 | $44,389 | 13.3 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- 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 likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Warranty: If you’re concerned about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
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 Fort Morgan, CO Solar Cost FAQs
What is the average cost of installing solar panels in Fort Morgan?
The average cost of solar panels in Fort Morgan 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Fort Morgan?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Fort Morgan, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact 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 consumption and the average daily 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 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.