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The Cost of Solar Panels in Colorado

Updated March 4, 2024

The Cost of Solar Panels in Colorado

Colorado is one of the fastest growing solar states in the US! With abundant sunshine and many financial incentives, more than 500,000+ homes and businesses have made the switch to solar energy in The Mile High State.

But how much does it cost to install solar panels in Colorado? See the complete breakdown of the cost of solar panels in Colorado below, or request a customized solar quote for your home, in minutes!

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The Costs of Solar Panels in Colorado

The most recent solar industry data shows that the average costs of solar panels in Colorado is between $13,000 - $19,000, depending on the size of your home and energy needs. The average home size in CO is around 2,400 sq ft., making the average solar system in Colorado around $15,758 before utilizing Colorado solar incentives.

Here’s a more complete breakdown of the cost of solar panels in Connecticut, by home size.

System size* Average cost
(before tax credit)
Average cost
(after tax credit)
5 kW $12,711 $8,897
6 kW $15,091 $10,563
7 kW $17,426 $12,198
8 kW $20,844 $14,590

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Factors That Influence The Costs of Solar in Colorado

Going solar in Colorado isn't just an environmentally-conscious choice; it's also financially rewarding for numerous homeowners and businesses. The savings on monthly energy expenses and the positive contribution towards a greener planet make it a commendable decision. The exact costs associated with the installation of solar panels in Colorado are influenced by a variety of factors. These determinants include your home's energy requirements, the specific type of solar panels you favor, and any additional features you might consider, such as a solar battery or supplementary panels.

Although the initial investment may vary based on individual circumstances, transitioning to solar in Colorado offers tangible benefits. The majority of solar adopters report a 40% - 60% reduction in their electricity bills, with many solar setups paying for themselves in under a decade!

Installation & Labor Costs

In Colorado, transitioning to solar isn't just about purchasing panels. Anticipate other factors like installation charges, permit acquisition, and inspection fees to ensure the entire system functions seamlessly. These elements might seem peripheral but typically account for roughly 10% to 20% of the overall solar expenditure, significantly influencing the comprehensive cost of adopting solar energy.

However, the Silver State offers myriad opportunities to diminish these initial expenses. For a deeper dive, explore our extensive guide on getting free solar panel installations in Colorado!

Equipment Costs

Dissecting the costs further, a significant chunk—around 60-70%—is attributed to the core solar panel system in Colorado. This encompasses the panels themselves, inverters, and essential mounting equipment. These components, pivotal to your solar infrastructure, harmoniously function to consistently deliver clean and renewable energy to your establishment for numerous years.

Solar Taxes

For those considering a solar investment in Colorado, there are tax implications to consider. This includes sales tax during purchase and potential property tax evaluations due to an increase in your home's value.

However, the uplifting news for Colorado homeowners is the state's progressive stance on solar, providing specific tax breaks and incentives to encourage renewable energy adoption. Delve into the nuances of Colorado's solar tax exemptions by entering your zip code below!

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How to Save Money on Solar Panels in Colorado

Great news for Colorado homeowners: The state is offering plenty of financial incentives if you're thinking of going solar. With a push towards more clean energy, Colorado is providing ways to make solar panels more affordable.

Curious about which savings you can get? Talk to the solar pros at EcoGen America. They'll show you all the special solar deals you can get, guide you on how to apply, and help you find out the cost of a solar panel system tailored for your home.

ROI on Solar | Solar Payback Time

Thinking of how fast solar panels can save you money in Colorado? You might be surprised! Given the electricity rates and solar incentives here, many homeowners get their investment back in just 7-9 years. After that period, the money you save from your solar is all yours. This quick return is a big reason why so many in Colorado are choosing solar.

Solar Financing Options

Concerned about the starting costs for solar panels? There are solutions! There are solar financing plans like power agreements (PPAs) and solar loans that help you get started without a big upfront cost. With these, you can begin using solar energy without spending a lot right away.

Want more info on affordable solar in Colorado? Dive into our guide on "How to Get Free Solar Panels in Colorado."

Colorado's Solar Incentives

Colorado is among the top states for solar incentives. You can get tax breaks and avoid extra charges on the added value of your home or on the equipment purchase. There are also local programs that reward you based on the clean energy your system produces. These deals make choosing solar in Colorado a no-brainer.

Check out the full list of Colorado's solar incentives!

Now's the best time to go solar in Colorado. With all these incentives and payment plans, you can be part of the green energy wave, tapping into the sun's power and saving money.

Find out if you qualify for solar savings programs!

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Are Solar Panels Worth it in Colorado?

Yes! For many homeowners in Colorado, solar power is a smart choice. It can greatly reduce your electricity bills and helps our environment. Thanks to Colorado's robust support for solar energy through incentives and tax breaks, a lot of homeowners see their solar panel investment pay off in just 7-9 years.

What comes next? Your solar panels keep generating almost free electricity for you for another 20-30 years or even longer. Think about all those years with reduced electric bills and using clean, renewable energy!

Read Also: The Pros & Cons of Solar Panels in Colorado.

Getting started with solar in Colorado can be simple and even fun, especially with the right experts by your side. In no time, you can ask for a free quote for solar panels tailored for your home. This includes a detailed online review of your home, info on which solar discounts you can get, and an estimate of your solar savings. Take the first step today to discover your solar possibilities, with no pressure to purchase. Become one of the many Colorado homeowners reaping the rewards of solar energy!

How We Gather Our Cost Data

We take a data-driven approach to the collection and analysis of solar costs to provide our readers with the most accurate information. Our methodology incorporates data from a variety of trustworthy sources including:

  • Primary Sources: Every year we survey over 100 Colorado homeowners with solar panels to analyze pricing data based on direct consumer experience. 
  • Trusted Resources: We leverage verified datasets and industry reports from authoritative sources including:
    • U.S. Department of Energy (DOE)
    • National Renewable Energy Laboratory (NREL)
    • U.S. Energy Information Administration (EIA)
    • Solar Energy Industries Association (SEIA)
  • Expert Insights: We regularly consult with dozens of experienced solar professionals across the nation who are familiar with the latest trends, equipment and solar energy pricing in local markets.

 

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Author & Solar Energy Expert

James Kahle, a revered voice in the energy domain, enlightens homeowners about the benefits of solar. Catch James soaking up the sun while playing basketball or immersed in the pages of a book.

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