The cost of solar panels in Florence, CO (2024)

Updated Aug 27, 2024

  • You'll pay an average of $15,680 to install a 5 kilowatt solar panel system in Florence, CO, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

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Written by: Emily Walker

As of August 2024, the average solar panel system costs $3.14/W including installation in Florence, CO. For a 5 kW installation, this comes out to about $15,680 before incentives, though prices range from $13,328 to $18,032. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in Florence, CO

Good Price
$13,328 or less
Market Average
$15,680
High Price
$18,032 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or Florence, CO state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $15,680 in Florence, CO, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in Florence, CO

System Size
System Cost
System Cost (after ITC)
3 kW$9,408$6,586
4 kW$12,544$8,781
5 kW$15,680$10,976
6 kW$18,816$13,171
7 kW$21,952$15,366
8 kW$25,088$17,562
9 kW$28,224$19,757
10 kW$31,360$21,952

Are solar panels worth it in Florence, CO?

Solar panels are worth it in most areas, including Florence, CO. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $32,186 over 20 years on electricity costs with a 5 kW system in Florence, CO. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

Payback Period
8.74 Years
20-Year Savings
$32,186
Cost-per-Watt
$3.14

If you can't shell out $15,680 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. Some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

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The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in CO, here are some popular suggestions:

  • Proud American Electrical and Solar
    Colorado Springs, CO
    Established 2015
    Elite Installer
    We are a full service electrical and solar installation company headquartered in Colorado Springs CO. We speciali...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    23 Reviews

    We are a full service electrical and solar installation company headquartered in Colorado Springs CO. We speciali...
  • Photon Brothers
    Multi-state
    Established 2013
    Elite Installer
    Take control of your energy bill by installing solar and home batteries. Photon Brothers is committed to the high...
    Elite Installer
    Screened & Verified
    4.5 /5.0
    59 Reviews

    Take control of your energy bill by installing solar and home batteries. Photon Brothers is committed to the high...
  • Sunshine Saves Inc.
    Multi-state
    Established 2012
    Approved Installer
    Our main focus is always on quality, both with equipment used and the installation performed. We offer the best w...
    Approved Installer
    Screened & Verified
    5.0 /5.0
    16 Reviews

    Our main focus is always on quality, both with equipment used and the installation performed. We offer the best w...
  • Elevated Independent Energy
    Denver, CO
    Established 2018
    Approved Installer
    We are Colorado's solar experts. We install the highest quality products at competitive prices based on decades o...
    Approved Installer
    Screened & Verified
    5.0 /5.0
    13 Reviews

    We are Colorado's solar experts. We install the highest quality products at competitive prices based on decades o...
  • Pure Energy
    Multi-state
    Established 2014
    Approved Installer
    Our team is driven by a passion for sustainable energy and we go the extra mile to ensure your expectations are m...
    Approved Installer
    Screened & Verified
    4.0 /5.0
    5 Reviews

    Our team is driven by a passion for sustainable energy and we go the extra mile to ensure your expectations are m...

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in Florence, CO.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in Florence, CO. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

Why shop with EnergySage?

Save time & money

Request free quotes from vetted installers in minutes

Unbiased support

Our expert Energy Advisors will help you make the right decision

Trusted, local installers

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