Solar Panel Cost Guide in Lochbuie, CO (2024 Update)
- Lochbuie Solar Installation Cost: $14,488
- 25-Year Savings: $17,607
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Lochbuie
We go over average solar pricing in Lochbuie.
The average cost of a solar panel system in Lochbuie is 4 per watt.The average Lochbuie homeowner needs a 5.2-kilowatt system, which would cost about $14,488 with the federal tax credit, or $20,718 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $20,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar installer in Lochbuie for a quote for your home.
Solar savings over time in Lochbuie
| Year | Return on Investment |
|---|---|
| 1 years | $-13,470 |
| 3 years | $-11,434 |
| 5 years | $-9,397 |
| 7 years | $-7,361 |
| 9 years | $-5,324 |
| 11 years | $-3,287 |
| 13 years | $-1,251 |
| 15 years | $786 |
| 17 years | $2,822 |
| 19 years | $4,859 |
| 21 years | $6,895 |
| 23 years | $8,932 |
| 25 years | $10,968 |
Top Solar Installers in Lochbuie
Putting up solar panels on your own can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Lochbuie
Factors that Affect Solar Panel Costs in Lochbuie
There are a number of factors that can affect your 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
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,980.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lochbuie average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Lochbuie, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lochbuie is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Lochbuie know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $14,227 | 13.7 years |
| 8 kW | $4.06 | $22,734 | $19,415 | 13.5 years |
| 10 kW | $3.98 | $27,860 | $24,826 | 13.2 years |
| 12 kW | $3.90 | $32,763 | $30,459 | 13.0 years |
| 14 kW | $3.82 | $37,444 | $36,316 | 12.7 years |
| 16 kW | $3.74 | $41,901 | $42,396 | 12.4 years |
| 18 kW | $3.66 | $46,136 | $48,698 | 12.2 years |
| 20 kW | $3.58 | $50,148 | $55,223 | 11.9 years |
How to Save on Solar Panels
The company that does your 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 a challenge, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Long-standing 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 support, such as part repairs and replacements.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Contract: Look through the contract terms carefully 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 Lochbuie, CO Solar Cost FAQs
What is the average cost of installing solar panels in Lochbuie?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Lochbuie have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Lochbuie?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.