Solar Panel Cost Guide in Magna, UT (2024 Update)
- Magna Solar Installation Cost: $12,070
- 25-Year Savings: $16,344
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Magna
Find out what the average cost of solar panel installation is in Magna.
The average cost of solar panels in Magna 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.
The true cost of your system can be higher or lower than the average in Magna based on a few factors, such as the brand of solar panels you choose and the solar company you hire.With typical savings of about $19,000 on energy bills over 20 years, many homeowners in Magna find going solar has a decent ROI.
Click the button below to get connected to a vetted solar installer in Magna for a customized estimate.
Solar savings over time in Magna
| 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 Magna
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be hard. Some solar installers, particularly local ones, can help you take advantage of incentives in Magna, therefore optimizing your ROI.
If you're searching for a solar installer in Magna, we've put together a list of our top suggestions here:
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 Magna
Factors that Affect Solar Panel Costs in Magna
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Magna: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,290. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Magna homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact the cost. Magna’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $15,596 | 12.0 years |
| 8 kW | $3.36 | $18,792 | $21,163 | 11.8 years |
| 10 kW | $3.29 | $23,030 | $26,914 | 11.5 years |
| 12 kW | $3.22 | $27,083 | $32,850 | 11.3 years |
| 14 kW | $3.16 | $30,952 | $38,970 | 11.1 years |
| 16 kW | $3.09 | $34,637 | $45,274 | 10.8 years |
| 18 kW | $3.03 | $38,138 | $51,762 | 10.6 years |
| 20 kW | $2.96 | $41,454 | $58,435 | 10.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Magna, UT Solar Cost FAQs
How much does it cost to install solar panels in Magna?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $16,450 for a 5-kW system and $32,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Magna?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.
Is it worth going solar in Magna?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels 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 typically 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.