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Solar Panels in Colorado

Jessica PirroOctober 24, 20194150

The State of Colorado has some incredible views. Their mountain tops have some of the best snow in the nation, so it shouldn’t be a surprise that environmental protection is one of the most important considerations of that state. Due to the state being so proactive at protecting the environment, Colorado is among the leaders in the solar energy capacity to this day. Colorado residents have been able to benefit from solar energy for over two decades, with the help of the many solar incentives that Colorado has to offer, including a strong net-metering program with significant tax exemptions.

Solar in Colorado

The average cost of solar in Colorado is going to range from $13,388 to $18,112. The cost of solar on a per watt ($/W) basis, a solar panel installation in Colorado is going to range from $2.68 to $3.62.

A question that a lot of homeowners have while considering a solar panel installation is going to be how long the return of investment for their solar-powered system is going to take. The correct term is going to be the solar panels payback period. For homeowners in Colorado, the average payback period is going to be 10.38 years.

Another choice that perspective solar-powered system customers have is going to be, ‘how will I pay for a solar-powered system?’ Luckily, with the popularity of solar-powered systems rising, there are many financing for solar options that Colorado homeowners have for property owners who are looking to invest in solar power. A popular method of payment for a solar panel installation is going to be cash payments and is often going to lead to the most long-term value for your money. For those who will prefer $0-down options, loans for solar and solar leases are also available to help finance a solar-powered system.

In the table below we will list the cost of solar panels in Colorado’s most prominent counties:

2019 Cost of Solar Panels in Colorado for a 5-kW Solar-Powered System

County

Out-Of-Pocket Costs

Net 20-Year Savings

Payback Period

Electricity Bill Offset

Archuleta County

$13,557 - $18,342

$40,971 - $55,432

8.4 - 11.4 Years

82 - 111 %

Boulder County

$13,515 - $18,285

$16,879 - $22,836

8.8 - 11.8 Years

82 - 111 %

Delta County

$13,940 - $18,860

$20,338 - $27,516

8.6 - 11.6 Years

78 - 105 %

Eagle County

$12,155 - $16,445

$18,298 - $24,756

8.7 - 11.8 Years

79 - 106 %

El Paso County

$13,387 - $18,112

$19,865 - $26,877

8.5 - 11.5 Years

81 - 109 %

Fremont County

$13,940 - $18,860

$22,909 - $30,994

7.6 - 10.3 Years

84 - 114 %

Grand County

$13,982 - $18,917

$16,021 - $21,676

9 - 12.2 Years

74 - 100 %

Gunnison County

$14,662 - $19,837

$29,857 - $40,395

8.4 - 11.4 Years

84 - 114 %

La Plata County

$12,537 - $16,962

$29,318 - $39,666

7.1 - 9.6 Years

80 - 108 %

Mesa County

$14,237 - $19,262

$21,210 - $28,696

8.7 - 11.8 Years

84 - 114 %

Montrose County

$14,237 - $19,262

$20,769 - $28,099

8.7 - 11.7 Years

81 - 110 %

Montezuma County

$12,707 - $17,192

$37,114 - $50,213

7 - 9.5 Years

81 - 110 %

Park County

$14,747 - $19,952

$16,636 - $22,508

9.2 - 12.5 Years

83 - 112 %

Weld County

$13,260 - $17,940

$16,964 - $22,951

8.7 - 11.7 Years

82 - 111 %

Solar Energy in Colorado 

Colorado doesn’t just produce some of the best snow in the nation for snowboarding, solar energy in Colorado is expanding. The state that was ranked 11th nationally in 2018, drop one spot to 12th in 2019. There is currently 1,268.42 MW of solar power installed, which is enough solar power to provide solar electricity for 258,355 homes. The state currently uses solar electricity for 3.04% of its state's electrical needs. The solar energy industry has created 6,847 jobs in the state. There are currently 476 solar companies in Colorado, 49 solar energy manufacturing jobs, 234 solar installers, and 193 other jobs. The state has invested $3,352.10 million in solar power. It’s predicted that in the next 5 years Colorado will add 2,406 MW of solar power, moving the state up three spots in the national rankings 9th. There’s currently 60,193 solar panel installations in Colorado and that number is only expected to grow.

Solar Incentives in Colorado

When it comes to solar panel installations in Colorado, from residential rooftops to community solar power, the state government is doing everything it can to help residents add a solar-powered system on their rooftop.

The Federal Investment Tax Credit (ITC)

The ITC allows you to deduct 30% off the total solar-powered system cost from your federal taxes. If you are interested in getting a solar-powered system that costs $15,000 out of your pocket, you will qualify for a $4,500 tax deduction. But the 30% Federal Investment Tax Credit only lasts until the end of 2019, at the start of 2020, the tax credit is going to drop down to 26%. If you want to see how much solar panel installation will cost you before the end of 2019, you can go to HaHaSmart and use a price checker tool.

The Top Rebates for Solar Power in Colorado

A lot of Colorado utilities and local organizations offering cash rebates for solar to homeowners who are going to wish to get a solar panel installation on their property. There are also local solar incentives are available, to be sure to explore the options available in the area.

- There’s EnergySmart Colorado: Rebates anywhere from $400 to $3,000 (which will depend on where you live) are available for solar panel installations on homes in Eagle Valley, Roaring Fork Valley, and Summit County.

- Holy Cross Energy: Holy Cross as a per-kilowatt (kW) rebates for solar for its customers to reduce the cost of solar. The solar incentive is $750 for the first 6 kW and is stepped down for larger solar-powered systems. Homeowners that are considering getting a solar panel installation can save $4,500 in the cost of solar with this rebate.

Solar system price checker

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Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.

Whoa ! Going solar is definitely a smart decision.

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