Solar Panel Cost Guide in Hyde Park, UT (2024 Update)
- Hyde Park Solar Installation Cost: $11,856
- 25-Year Savings: $15,239
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Hyde Park
We go over average solar pricing in Hyde Park.
The average cost of a solar system in Hyde Park is 3 per watt.The average solar panel system size in Hyde Park is around 5.1 kilowatts, meaning a cost of about $11,856 for a solar installation, or $16,954 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will vary based on your energy needs and what company you want to go with.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Hyde Park find going solar can pay off big.
To get a free estimate from a vetted solar installer in Hyde Park, you can click the button below.
Solar savings over time in Hyde Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,860 |
| 3 years | $-8,868 |
| 5 years | $-6,876 |
| 7 years | $-4,883 |
| 9 years | $-2,891 |
| 11 years | $-899 |
| 13 years | $1,093 |
| 15 years | $3,086 |
| 17 years | $5,078 |
| 19 years | $7,070 |
| 21 years | $9,062 |
| 23 years | $11,054 |
| 25 years | $13,047 |
Top Solar Installers in Hyde Park
Although it's possible to install solar panels by yourself, it involves extra time and knowledge. That's one of the reasons most homeowners choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
If you’d like to start using solar energy but still aren’t certain which solar system installer to go with, here are our suggestions for providers near you:
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 Hyde Park
Factors that Affect Solar Panel Costs in Hyde Park
The cost of installing a solar system in Hyde Park can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hyde Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,290 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Hyde Park to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Hyde Park is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services at different price points.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also is within your budget.
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 | $14,646 | 12.4 years |
| 8 kW | $3.36 | $18,792 | $19,896 | 12.1 years |
| 10 kW | $3.29 | $23,030 | $25,331 | 11.9 years |
| 12 kW | $3.22 | $27,083 | $30,950 | 11.7 years |
| 14 kW | $3.16 | $30,952 | $36,753 | 11.4 years |
| 16 kW | $3.09 | $34,637 | $42,740 | 11.2 years |
| 18 kW | $3.03 | $38,138 | $48,912 | 11.0 years |
| 20 kW | $2.96 | $41,454 | $55,268 | 10.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: If you care about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Hyde Park, UT Solar Cost FAQs
How much does it cost to install solar panels in Hyde Park?
The average cost of solar panels in Hyde Park is about $16,450 for a 5-kW system and $32,900 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Hyde Park?
Leasing solar panels can be an attractive choice, as it usually 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?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $967.22 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.