Solar Panel Cost Guide in Boulder, CO (2024 Update)
- Boulder Solar Installation Cost: $14,732
- 25-Year Savings: $16,212
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Boulder
Let’s take a look at the average cost of solar in Boulder.
In Boulder, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Boulder, most homeowners require a 5.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,732, or $21,067 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and the cost of going solar for you will most likely vary based on factors unique to your home and what company you want to go with.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.
Solar savings over time in Boulder
| Year | Return on Investment |
|---|---|
| 1 years | $-13,760 |
| 3 years | $-11,816 |
| 5 years | $-9,873 |
| 7 years | $-7,929 |
| 9 years | $-5,986 |
| 11 years | $-4,042 |
| 13 years | $-2,099 |
| 15 years | $-155 |
| 17 years | $1,788 |
| 19 years | $3,732 |
| 21 years | $5,675 |
| 23 years | $7,619 |
| 25 years | $9,562 |
Top Solar Installers in Boulder
Although it's possible to install solar panels yourself, it involves extra time and know-how. That's why the majority of homeowners choose to hire a solar panel installer. In addition, if you’d like to maximize your investment in solar power, opting for a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Boulder
Factors that Affect Solar Panel Costs in Boulder
There are several criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,980 per kilowatt in Boulder.The type of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Boulder, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,310 | 14.6 years |
| 8 kW | $4.06 | $22,734 | $16,858 | 14.4 years |
| 10 kW | $3.98 | $27,860 | $21,630 | 14.1 years |
| 12 kW | $3.90 | $32,763 | $26,625 | 13.8 years |
| 14 kW | $3.82 | $37,444 | $31,843 | 13.5 years |
| 16 kW | $3.74 | $41,901 | $37,283 | 13.2 years |
| 18 kW | $3.66 | $46,136 | $42,946 | 12.9 years |
| 20 kW | $3.58 | $50,148 | $48,833 | 12.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component 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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Boulder, CO Solar Cost FAQs
What is the average cost of installing solar panels in Boulder?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Boulder?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 bang for your buck from going solar.
Is going solar worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.