Solar Panel Cost Guide in Meridian, CO (2024 Update)

  • Meridian Solar Installation Cost: $14,333
  • 25-Year Savings: $17,747
  • Payback Period: 13.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Meridian

We go over average solar pricing in Meridian.

In Meridian, solar panels cost about 4 per watt on average.The average Meridian 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.

Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $20,000 over 20 years on energy bills.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Meridian

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 Meridian

Although you can install solar panels on your own, it requires extra time and expertise. Because of that, most people choose to hire a solar panel installer. Plus, if you aren’t sure what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Meridian

Factors that Affect Solar Panel Costs in Meridian

There are several criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Meridian, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar installers in Meridian have 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 opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Meridian, and each can charge varying amounts for labor and equipment.Additionally, some companies in Meridian have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 $14,611 13.6 years
8 kW $4.06 $22,734 $19,927 13.3 years
10 kW $3.98 $27,860 $25,466 13.1 years
12 kW $3.90 $32,763 $31,228 12.8 years
14 kW $3.82 $37,444 $37,213 12.5 years
16 kW $3.74 $41,901 $43,421 12.3 years
18 kW $3.66 $46,136 $49,851 12.0 years
20 kW $3.58 $50,148 $56,505 11.8 years

How to Save on Solar Panels

The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:

  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
  • Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
  • Reputation: Well-established companies likely have a high 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.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Meridian, CO Solar Cost FAQs

How much does it cost to install solar panels in Meridian?

The average cost of solar panels in Meridian 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 use.

What other factors should I consider apart from cost when buying solar panels?

The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas 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.

How will installing solar panels impact my home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Meridian is currently $789,910, which means you can look forward to a value of about $32,386 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Meridian is a fruitful investment.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy usage 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 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.

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