Solar Panel Cost Guide in Lafayette, CO (2024 Update)
- Lafayette Solar Installation Cost: $14,732
- 25-Year Savings: $16,777
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Lafayette
Find out what the average cost of a solar system is in Lafayette.
The national average cost of solar panels is $2.66 per watt, but in Lafayette it’s 4 per watt.The average solar panel system size in Lafayette is around 5.3 kilowatts, meaning a cost of about $14,732 for a solar installation, or $21,067 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Lafayette homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high initial cost, the average Lafayette homeowner can save around $19,000 on their energy bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-13,763 |
| 3 years | $-11,827 |
| 5 years | $-9,891 |
| 7 years | $-7,955 |
| 9 years | $-6,019 |
| 11 years | $-4,082 |
| 13 years | $-2,146 |
| 15 years | $-210 |
| 17 years | $1,726 |
| 19 years | $3,663 |
| 21 years | $5,599 |
| 23 years | $7,535 |
| 25 years | $9,471 |
Top Solar Installers in Lafayette
Although it's possible to install solar panels on your own, it takes extra energy and expertise. For that reason, the majority of homeowners choose to go with a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our recommendations for providers in Lafayette:
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 Lafayette
Factors that Affect Solar Panel Costs in Lafayette
For many Lafayette 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 Lafayette, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Lafayette, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $3,980 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Lafayette, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Lafayette offer solar loans, which reduce the initial cost of installing solar panels.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you select will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lafayette know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $12,950 | 14.3 years |
| 8 kW | $4.06 | $22,734 | $17,713 | 14.1 years |
| 10 kW | $3.98 | $27,860 | $22,698 | 13.8 years |
| 12 kW | $3.90 | $32,763 | $27,906 | 13.5 years |
| 14 kW | $3.82 | $37,444 | $33,338 | 13.2 years |
| 16 kW | $3.74 | $41,901 | $38,992 | 12.9 years |
| 18 kW | $3.66 | $46,136 | $44,869 | 12.7 years |
| 20 kW | $3.58 | $50,148 | $50,968 | 12.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
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 Lafayette, CO Solar Cost FAQs
What is the average cost of installing solar panels in Lafayette?
This is a tough question to answer exactly, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Lafayette?
You can’t get solar panels for free in Lafayette. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lafayette is currently $693,705, so you can expect a value of about $28,442 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lafayette is a fruitful investment.
How many solar panels should I get to power 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 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.