Solar Panel Cost Guide in Lone Tree, CO (2024 Update)
- Lone Tree Solar Installation Cost: $14,333
- 25-Year Savings: $17,355
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Lone Tree
Let’s take a look at the average cost of solar panels in Lone Tree.
While the national average of solar panels is $2.66 per watt, solar panels in Lone Tree generally cost about 4.The average Lone Tree homeowner needs a 5.1-kilowatt system, which would cost about $14,333 with the federal tax credit, or $20,496 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Lone Tree depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire.But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $20,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar company in Lone Tree for a personalized quote.
Solar savings over time in Lone Tree
| Year | Return on Investment |
|---|---|
| 1 years | $-13,365 |
| 3 years | $-11,428 |
| 5 years | $-9,492 |
| 7 years | $-7,556 |
| 9 years | $-5,620 |
| 11 years | $-3,684 |
| 13 years | $-1,747 |
| 15 years | $189 |
| 17 years | $2,125 |
| 19 years | $4,061 |
| 21 years | $5,998 |
| 23 years | $7,934 |
| 25 years | $9,870 |
Top Solar Installers in Lone Tree
When going solar, many homeowners prefer to hire a solar company since putting up solar panels yourself can be a time-consuming project. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Lone Tree:
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 Lone Tree
Factors that Affect Solar Panel Costs in Lone Tree
For many Lone Tree homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Lone Tree, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,980 per kilowatt in Lone Tree.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lone Tree, where sunlight is abundant, efficiency can quickly pay off. Also, 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
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Lone Tree, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Lone Tree is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Lone Tree know more about local solar incentives and can help you take advantage of 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 | $14,153 | 13.8 years |
| 8 kW | $4.06 | $22,734 | $19,317 | 13.5 years |
| 10 kW | $3.98 | $27,860 | $24,704 | 13.3 years |
| 12 kW | $3.90 | $32,763 | $30,313 | 13.0 years |
| 14 kW | $3.82 | $37,444 | $36,145 | 12.7 years |
| 16 kW | $3.74 | $41,901 | $42,200 | 12.5 years |
| 18 kW | $3.66 | $46,136 | $48,478 | 12.2 years |
| 20 kW | $3.58 | $50,148 | $54,979 | 11.9 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. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected 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 install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
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 Lone Tree, CO Solar Cost FAQs
What is the average cost of installing solar panels in Lone Tree?
The average cost of solar panels in Lone Tree 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs 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 install 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.