Solar Panel Cost Guide in Holladay, UT (2024 Update)
- Holladay Solar Installation Cost: $12,070
- 25-Year Savings: $14,320
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Holladay
We break down average solar pricing in Holladay.
The average cost of a solar panel system in Holladay is 3 per watt.Using this figure, a typical 5.2-kW system would cost about $12,070 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Holladay homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on utility bills.
To get a free quote from a pre-vetted solar installation company in Holladay, you can click the button below.
Solar savings over time in Holladay
| Year | Return on Investment |
|---|---|
| 1 years | $-11,074 |
| 3 years | $-9,082 |
| 5 years | $-7,090 |
| 7 years | $-5,097 |
| 9 years | $-3,105 |
| 11 years | $-1,113 |
| 13 years | $879 |
| 15 years | $2,872 |
| 17 years | $4,864 |
| 19 years | $6,856 |
| 21 years | $8,848 |
| 23 years | $10,840 |
| 25 years | $12,833 |
Top Solar Installers in Holladay
Although you can install solar panels yourself, it involves extra energy and knowledge. Because of that, most people choose a solar panel installer. Plus, if you aren’t sure what type of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
See all of the solar companies in Holladay
Factors that Affect Solar Panel Costs in Holladay
For many Holladay homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Holladay, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,290. The type of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Holladay, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.42 | $14,371 | $13,279 | 13.0 years |
| 8 kW | $3.36 | $18,792 | $18,073 | 12.7 years |
| 10 kW | $3.29 | $23,030 | $23,052 | 12.5 years |
| 12 kW | $3.22 | $27,083 | $28,216 | 12.2 years |
| 14 kW | $3.16 | $30,952 | $33,563 | 12.0 years |
| 16 kW | $3.09 | $34,637 | $39,095 | 11.7 years |
| 18 kW | $3.03 | $38,138 | $44,811 | 11.5 years |
| 20 kW | $2.96 | $41,454 | $50,711 | 11.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, 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:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: The model of solar panel you need to install plays a role in which company you should choose, since different companies have different panels.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
EcoWatch's Holladay, UT Solar Cost FAQs
How much does it cost to install solar panels in Holladay?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $16,450 for a 5-kW system and $32,900 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 above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Holladay?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Holladay, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 opt to replace them once you've had 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.