Solar energy is an investment for any homeowner. However, it is a common misconception that going solar refers strictly to setting up solar panels. In reality, a variety of factors can impact how much it costs for you to adopt a solar power solution for your home.
We present this guide as a way to help you determine the potential cost of a solar energy system in general. To get an accurate estimate, though, it is important to contact a company experienced in solar installation to provide a quote specifically for your home.
If you are wondering how much a solar panel system might cost, please don’t hesitate to contact REenergizeCO today. We serve homeowners in Denver, Fort Collins, and throughout the Front Range of Colorado.
Solar Panel Pricing
The number of solar panels you need will depend on several different factors:
- Your home energy consumption
- The power generated by the system you purchase
- The available square footage of your roof
Energy savings is a major component of the decision to go solar. Over time, the amount you save on electricity needs to exceed the total cost of the equipment and installation.
Understanding What Your Investment Should Cover
Before investing in solar, you need to understand how much electricity you use on average. Making an accurate calculation will tell you how much energy your system needs to generate for your average usage, which in turn will help you determine the amount of energy in kilowatts (kW) the system you choose should produce.
Solar panel systems are priced per watt of electricity they generate. A kilowatt is equal to 1,000 watts. When comparing systems, you can use this measurement to determine the amount of money you will pay for each unit of electricity your system produces. This gives you a baseline metric that will prove helpful when determining how many solar panels you require (and how many you can afford) based on the space you need to cover.
Where you live can also play a role in how much you pay for solar panels and power systems. SolarReviews estimates the average cost for a 6 kW system in Colorado to be $14,129 after you claim the federal tax credit.
View our pricing guide for information on how much a solar panel system may cost you after the federal tax credit and other incentives and rebates.
In addition, the price of solar panels varies by manufacturer. An experienced solar power company can advise you which brands may work best based on your budget, energy needs, and other factors.
Price of the Solar System
Solar panels are the most recognizable feature of solar energy systems, but they don’t work by themselves. Other key components of the system include:
- Mounting racks: Used to attach the solar panels to the roof
- Battery: Holds electricity generated during the day for use at night and other times when sunlight is diminished or the sun has set
- Charge regulator: Controls the amount of energy distributed to the battery to prevent overcharging
- Inverter: Transforms the current generated by solar panels into the type required by your home appliances (DC to AC)
- Breaker box: Connecting the solar panel system to the circuit breaker in your home regulates the amount of electricity distributed to your home fixtures and appliances
- Power meter: If your home is still connected to the power grid, the meter will measure your electricity consumption and how much power your solar system provides back to the grid
As with the cost of solar panels themselves, the price of the system will be dependent on your household needs. In addition, the company you choose, the brands they offer, and prices in your geographic area will also play a role in the overall cost.
Price of Solar Panel Installation
The price for any professional service will be determined by a host of factors. When it comes to installing your solar system, the following elements may impact what you pay:
- The company’s experience
- The knowledge and skill of the installers
- The products they use
- The size of your rooftop
- The solar energy market in your local area
When you calculate the cost of installing solar panels and the electrical system, it is important to take into account the additional costs you will incur. Specifically, this includes the fees for building permits and inspections.
One of the advantages of working with an experienced solar power installer is the company’s knowledge of the local permitting and inspection process. Applying for permits and ensuring your solar energy system complies with local building codes and zoning laws is key to controlling installation costs and ensuring you are ready to go solar.
What About DIY Solar Panel Installation?
You can find a number of DIY solar installation kits online complete with solar panels and other equipment. Although doing it yourself can save you money, many homeowners find the process of installing a solar energy system on their own to be a daunting task.
Getting the most from solar power requires you to know your home energy needs and match those needs to the products on the market. Homeowners generally have less choice of solar panels and equipment than the professionals do. And, in addition to the labor involved in installation, working with electric wiring requires caution.
When you choose professional installation, you are investing in quality products and experienced labor. This might lead to a higher upfront bill, but the long-term cost savings are generally higher.
Tax Credits, Incentives & Rebates
Another way to save money on your solar panel system is to take advantage of available incentives. The federal government offers a 26% tax credit on solar power systems installed in 2020. Public utilities in Denver, For Collins, and other parts of the Front Range also offer rebates on solar, as well as incentives for your system to provide energy back to the grid.
You can find a complete list of tax credits, rebate programs, and other incentives available in Colorado online at the Database of State Incentives for Renewables & Efficiency.
When you work with an experienced solar panel company, the office staff should be able to assist with applying for credits and rebates.
Contact REenergizeCO for Your Solar Panel Project
If you are looking for a solar company in the Front Range with a reputation for skill, knowledge, and experience, REenergizeCO is ready to help! Our team includes qualified installers who handle all aspects of placing, mounting, and wiring solar panels, as well as staff members who can answer your questions and assist you with each aspect of your investment in solar energy for your home.
To schedule your initial consultation, please contact REenergizeCO today. We serve homeowners in Denver, Fort Collins, and nearby areas of Colorado.
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