Solar Panel Cost Guide in Silverthorne, CO (2024 Update)
- Silverthorne Solar Installation Cost: $14,684
- 25-Year Savings: $17,486
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Silverthorne
We go over average solar pricing in Silverthorne.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Silverthorne, the typical cost of a solar system is 4 per watt.Because a 5.3-kW system is needed to cover the energy costs of a typical home in Silverthorne, the average price of going solar will be about $14,684 after claiming the federal solar tax credit of 0.
The true cost of your system can go higher or lower than the average in Silverthorne depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Silverthorne can save about $20,000 on their energy bills over 20 years.
To get a free quote from a highly rated solar installer in Silverthorne, you can click the button below.
Solar savings over time in Silverthorne
| Year | Return on Investment |
|---|---|
| 1 years | $-13,716 |
| 3 years | $-11,780 |
| 5 years | $-9,844 |
| 7 years | $-7,907 |
| 9 years | $-5,971 |
| 11 years | $-4,035 |
| 13 years | $-2,099 |
| 15 years | $-163 |
| 17 years | $1,774 |
| 19 years | $3,710 |
| 21 years | $5,646 |
| 23 years | $7,582 |
| 25 years | $9,518 |
Top Solar Installers in Silverthorne
Putting up solar panels on your own can be a dangerous undertaking, which is why using a solar installer is a good option for many homeowners. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're searching for a solar installer in Silverthorne, the EcoWatch team has compiled a list of our top suggestions here:
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
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
See all of the solar companies in Silverthorne
Factors that Affect Solar Panel Costs in Silverthorne
For many Silverthorne homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Silverthorne, 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
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $3,980 per kilowatt in Silverthorne.There are a lot of different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Silverthorne to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can influence the cost. Silverthorne’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $13,819 | 13.9 years |
| 8 kW | $4.06 | $22,734 | $18,871 | 13.7 years |
| 10 kW | $3.98 | $27,860 | $24,146 | 13.4 years |
| 12 kW | $3.90 | $32,763 | $29,644 | 13.1 years |
| 14 kW | $3.82 | $37,444 | $35,365 | 12.9 years |
| 16 kW | $3.74 | $41,901 | $41,309 | 12.6 years |
| 18 kW | $3.66 | $46,136 | $47,475 | 12.3 years |
| 20 kW | $3.58 | $50,148 | $53,864 | 12.1 years |
How to Save on Solar Panels
There are many companies available in Silverthorne, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
EcoWatch's Silverthorne, CO Solar Cost FAQs
What is the average cost of installing solar panels in Silverthorne?
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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Silverthorne?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.