Home solar panel installation costs can range from $20,000 to $50,000 or $14,000 to $35,000 when you factor in the federal tax credit. But even that cost doesn’t tell the whole story because there are other cost saving incentives that help you save thousands over time. Sometimes solar even pays for itself twice over!
Let’s break it down! The bulk of the cost for a project will be split between materials (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 free quote.
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.
We offer a variety of 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.
The federal tax credit isn’t unique to Boulder, but it is the most significant incentive for homeowners who go solar. The tax credit is currently 30% off the total cost of your system.
The City of Boulder’s Solar Rebate Ordinance can rebate approximately 15% of the city sales and use tax paid on materials and permits for the solar installation. To be eligible, taxpayers simply have to file a rebate application within 12 months of the city’s final inspection.
The city offers income-based solar grants to residents who install new rooftop solar systems. Grant applications are first come, first serve rolling acceptance.
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 system 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 1/14 of your investment back each year or a 7% annual return. That’s an excellent for a return on a low-risk investment! Any solar savings after those 14 years go straight into your pocket. No capital gain taxes, no delay, and low risk.
Namaste Solar is locally owned and has been a top solar installer in Boulder since 2005. We’ve helped thousands of our Boulder neighbors go solar and would love to help you too! Our non-commissioned solar advisors will provide you with a free, personalized quote will include a total breakdown of the cost of your solar system plus any available incentives.
As a member of the Amicus Solar Cooperative, Namaste Solar is able to offer competitive pricing by pooling the buying power of over 70 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.
If you’re ready for a quote, simply fill out this form to get started. One of our non-commissioned solar advisors will be happy to assist you.rnrnYour free quote will include: a roof assessment, a customized system design, and a calculation of your savings and return on investment. No sales pitch – just honest advice.
Call us anytime at 303.447.0300
Call us anytime at 303.447.0300
