Lock in Cheap Electricity Prices
Say goodbye to rising electricity costs when you own your power production and start saving for years to come.
Solar Panel Installation Cost & Savings
Tax Credits, Rebates, Incentives
There are many local incentives, utility rebates, and tax credits available now. Our team knows Colorado solar so you won’t miss a penny.
Own Your Power and Save
Just like owning a home is often a better investment than renting, solar pays you back – not the utility.
What Does Solar Cost?
When compared to the cost of your current electricity bill, solar panels show thousands of dollars in savings over time – sometimes paying for themselves twice over! When you get a free quote, our non-commissioned design specialists will provide you with numbers specific to your home.
In the meantime, let’s look at some average solar panel installation costs:
- Home solar panel installation costs range from $20,000 to $50,000 on average depending on how much electricity you use, your future electrification goals, and other factors.
- The 30% federal tax credit is available now – that’s $6,000 to $15,000 in savings on average.
- Solar allows you to lock in your electricity cost, insulating you from rising electricity prices. Instead of paying the utility, you’ll be putting those savings back in your pocket.
- $0-down financing options make solar more accessible.
Real-World Case Study
Let’s also look at a real example. This comes from a Namaste Solar customer in a 3-bedroom, 2.5-bathroom home built in 2019.
Installation Cost
This customer’s total system cost was $20,000 with a net cost of $14,000 after the tax credit.
New Monthly Electric Bill
In the first year, their electricity bill went from $96 a month to $12 a month. (The $12 represents the basic grid access charges from their utility.)
20-Year Electricity Savings
Their system is estimated to save over $30,000 on electricity in its first 20 years. That’s paying for itself twice over!
Energy Offset
We were able to offset 100% of their home’s electrical usage with a 16-panel system.
20-Year Average Utility Price
As utility prices continue to rise, we estimate that their 20-year average utility price would have been $0.164 per kilowatt hour.
Locked In Price
The price of their electricity is now locked in at $0.086 per kilowatt hour with solar.
SOLAR SAVINGS & INCENTIVES
FEDERAL SOLAR TAX CREDIT
The federal tax credit for home and commercial solar panel installations helps make solar an even better investment right now. The tax credit is 30% off the total cost of your system and will be in place until 2032. Read more about the federal solar tax credit and what it means for you.
COLORADO SOLAR INCENTIVES & REBATES
Many cities and utility companies in Colorado offer incentives or rebates to help bring down the total solar panel installation cost for homeowners. Our local solar experts will make sure you are getting all the available savings for your system when we provide your free quote. Learn more about Colorado solar incentives and rebates.
UNLIMITED CASH REWARDS
When you refer someone who goes solar with Namaste Solar, we’ll send you $250 in gratitude (plus, they’ll get $250 off their new system). This is an unlimited rewards program and a great way to multiply your impact while also earning solar rewards.
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Is Solar Right For You? Let’s Talk!
Get a customized, free solar quote from our team today! We provide no obligation, hassle-free quotes to educate the public and create transparency around the solar process. Our team is non-commissioned, so there is no pressure on you.
Common Solar Questions
What does an average solar electric system cost?
Home solar panel installation costs range from $20,000 to $50,000 on average (without the 30% federal tax credit taken into account). This includes the cost of all materials, labor, freight, permit fees, and sales tax. With a loan, you can go solar with little to no money upfront and lock in a fixed monthly solar electricity payment that is comparable to your current bill. Learn more about the cost and value of home solar.
What is the payback of a solar system?
The payback is typically 10–16 years, depending on if the system was purchased outright or financed. For more details, you can read this blog that explains solar panel payback using a cash flow table.
Do solar panels require maintenance?
Solar panels generally require minimal maintenance. Occasional cleaning and inspections ensure optimal performance and longevity.
What financial incentives are available for me to go solar?
Currently, the financial incentives for Colorado homeowners who go solar are abundant. And most of them can be stacked. For some customers this ends up saving them nearly 50% on their total system costs. You can read about all the solar incentives available here. And all the battery incentives available here.
Maximizing Your Solar Investment
SOLAR PANEL INSTALLATION COST BREAKDOWN
What goes into the cost of home solar? Let’s break it down! The bulk of the cost for a project will be split between the cost for the actual components (solar panels, inverter, mounting system, wiring, conduit, etc.) and labor costs. Additional costs include permit fees and local sales tax. Each of these will be itemized clearly on your personalized quote.
NO HIDDEN COSTS
We want you to be able to access the savings that come with a home solar installation. When you get a quote from Namaste Solar, you can be sure that your total solar panel installation cost will be clearly stated before you decide to say yes or no to solar. No last-minute changes or hidden fees.
FLEXIBLE PAYMENT OPTIONS
We offer multiple financing options through multiple lending partners, including $0-down financing. With a solar loan, homeowners often see fixed monthly payments that are comparable to their previous electric bills, all while building equity in their solar system instead of paying money out to the utility company.
AMICUS SOLAR COOPERATIVE
As a member of the Amicus Solar Cooperative, Namaste Solar is able to offer competitive pricing by pooling the buying power of over 80 independent solar providers from across the country. This is how we keep up with the national companies and maintain competitive solar panel installation costs without sacrificing quality.
SOLAR PANEL INSTALLATION COSTS & BENEFITS
There are many ways to slice and dice the economic benefits of solar. One way to assess the value of solar is calculating the payback period (how long it takes for a solar install to pay for itself) by taking the overall system price and dividing it by the average projected solar savings each year. For example, if your total solar panel installation cost is $28,000 and you’re projected to save about $2,000 a year, then your payback period would be 14 years (an average payback period here in Colorado).
Another way to look at the return on your solar panel installation cost is to calculate your annual rate of return. If you have a 14-year payback period, you are getting 1/14th of your investment back each year or a 7% annual return. That’s excellent for a return on a low-risk investment option! And remember… any solar savings after those 14 years go straight into your pocket! No capital gain taxes, no delay, and low risk.
Read more about solar panels as an investment, calculating solar ROI, or looking at the value of debt and home solar. We also have a blog that shows a customer’s cash flow table and explains how solar pays for itself over time.
WHAT DOES A HOME SOLAR QUOTE LOOK LIKE?
It’s time to stop wondering about solar; find out what a system of your own would look like and how much you could save! When you get a free quote from Namaste Solar, you’ll be able to see the complete solar panel installation costs outlined in detail for your home along with a customized design completed by one of our solar experts. We take a no-pressure approach and instead focus on answering your questions so you can make the right choice for you and your home.
Read more about what goes into your free solar quote and more about our no-pressure approach.
Get Your Free Quote
With the 30% tax credit, flexible financing options, and top technologies available – now is the best time to go solar and add battery storage!
Your free solar quote will include:
- Roof Assessment
- Customized System Design
- Savings Calculation
- No pushy sales pitch—just honest advice
In addition, our solar advisors can discuss home electrification options for your home, including EV chargers, heat pumps, electrical panel upgrades, and more.
Prefer to Call?
Call us anytime at 303.447.0300
Prefer to Call?
Call us anytime at 303.447.0300
