Solar Panel Cost Guide in Wheat Ridge, CO (2024 Update)
- Wheat Ridge Solar Installation Cost: $14,622
- 25-Year Savings: $16,308
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Wheat Ridge
Find out what the average cost of installing solar panels is in Wheat Ridge.
The national average cost of solar panels is $2.66 per watt, but in Wheat Ridge it’s 4 per watt.Using this figure, a typical 5.2-kW system would cost about $14,622 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Wheat Ridge homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a rewarding investment. The average homeowner in Wheat Ridge can save around $19,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Wheat Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-13,654 |
| 3 years | $-11,718 |
| 5 years | $-9,781 |
| 7 years | $-7,845 |
| 9 years | $-5,909 |
| 11 years | $-3,973 |
| 13 years | $-2,037 |
| 15 years | $-100 |
| 17 years | $1,836 |
| 19 years | $3,772 |
| 21 years | $5,708 |
| 23 years | $7,645 |
| 25 years | $9,581 |
Top Solar Installers in Wheat Ridge
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar company can make switching to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.
If you're searching for a solar installer in Wheat Ridge, we've put together a list of our top suggestions here:
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 Wheat Ridge
Factors that Affect Solar Panel Costs in Wheat Ridge
The cost of installing a solar system in Wheat Ridge can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Wheat Ridge, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over five to seven years on average.It’s wise to add 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Wheat Ridge, and each can charge varying amounts for labor and equipment.Additionally, some companies in Wheat Ridge are more knowledgeable 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 | $12,557 | 14.5 years |
| 8 kW | $4.06 | $22,734 | $17,188 | 14.2 years |
| 10 kW | $3.98 | $27,860 | $22,042 | 14.0 years |
| 12 kW | $3.90 | $32,763 | $27,120 | 13.7 years |
| 14 kW | $3.82 | $37,444 | $32,420 | 13.4 years |
| 16 kW | $3.74 | $41,901 | $37,943 | 13.1 years |
| 18 kW | $3.66 | $46,136 | $43,688 | 12.8 years |
| 20 kW | $3.58 | $50,148 | $49,657 | 12.6 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. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Wheat Ridge, CO Solar Cost FAQs
What is the average cost of installing solar panels in Wheat Ridge?
This is a hard 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Wheat Ridge?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Wheat Ridge, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 how much sunlight your roof gets. You can take a 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 buy 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.