Solar Panel Cost Guide in Golden, CO (2024 Update)
- Golden Solar Installation Cost: $14,622
- 25-Year Savings: $9,581
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Golden
Here’s how much it might cost to install solar panels in Golden.
While the national average of solar panels is $2.66 per watt, solar panels in Golden typically cost around 4.Because a 5.2-kW system is needed to cover the energy costs of a typical home in Golden, the average price of going solar will be about $14,622 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $19,000 over 20 years on power bills.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Golden
| Year | Return on Investment |
|---|---|
| 1 years | $-13,654 |
| 3 years | $-11,718 |
| 5 years | $-9,781 |
| 7 years | $-7,845 |
| 9 years | $-5,909 |
| 11 years | $-3,973 |
| 13 years | $-2,037 |
| 15 years | $-100 |
| 17 years | $1,836 |
| 19 years | $3,772 |
| 21 years | $5,708 |
| 23 years | $7,645 |
| 25 years | $9,581 |
Top Solar Installers in Golden
Putting up solar panels by yourself can be a stressful project, which is why using a solar installation company is a good option for many homeowners. The payback period on a solar system will vary based on factors like your roof configuration and energy usage, but going with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to start using solar energy but still aren’t certain which solar system company to go with, here are our suggestions for providers in Golden:
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 Golden
Factors that Affect Solar Panel Costs in Golden
There are a number of factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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, you can expect your total to increase by about $3,980. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
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 Golden homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Golden, you’ll have many options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $13,214 | 14.2 years |
| 8 kW | $4.06 | $22,734 | $18,065 | 13.9 years |
| 10 kW | $3.98 | $27,860 | $23,138 | 13.7 years |
| 12 kW | $3.90 | $32,763 | $28,435 | 13.4 years |
| 14 kW | $3.82 | $37,444 | $33,954 | 13.1 years |
| 16 kW | $3.74 | $41,901 | $39,696 | 12.8 years |
| 18 kW | $3.66 | $46,136 | $45,661 | 12.6 years |
| 20 kW | $3.58 | $50,148 | $51,849 | 12.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you’d like plays a part in which installer you should choose, since different companies provide different panels.
- Warranty: If you’re concerned about the durability of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
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 Golden, CO Solar Cost FAQs
How much does it cost to install solar panels in Golden?
The average cost of solar panels in Golden 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 model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Golden?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
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 amount of 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 get 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.