Solar Panel Cost Guide in Orem, UT (2024 Update)
- Orem Solar Installation Cost: $11,996
- 25-Year Savings: $15,314
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Orem
See how much it might cost to switch to solar power in Orem.
The average cost of a solar system in Orem is 3 per watt.To cover the typical energy needs of the average home in Orem, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $11,996, or $17,154 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with.Despite the high upfront cost, the average Orem homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Orem that can help you get a more accurate cost estimate for your home.
Solar savings over time in Orem
| Year | Return on Investment |
|---|---|
| 1 years | $-10,999 |
| 3 years | $-9,007 |
| 5 years | $-7,015 |
| 7 years | $-5,023 |
| 9 years | $-3,030 |
| 11 years | $-1,038 |
| 13 years | $954 |
| 15 years | $2,946 |
| 17 years | $4,938 |
| 19 years | $6,931 |
| 21 years | $8,923 |
| 23 years | $10,915 |
| 25 years | $12,907 |
Top Solar Installers in Orem
Although it's possible to install solar panels by yourself, it requires extra labor and knowledge. Because of that, the majority of homeowners choose a solar panel installer. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Orem
Factors that Affect Solar Panel Costs in Orem
The cost of installing a solar system in Orem can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,290.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Orem average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Orem homeowners choose to finance their solar panel systems to make paying for solar more affordable.Though solar loans make switching to solar energy more accessible for Orem homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Orem, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.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 cost more. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for 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 | $14,525 | 12.4 years |
| 8 kW | $3.36 | $18,792 | $19,735 | 12.2 years |
| 10 kW | $3.29 | $23,030 | $25,130 | 12.0 years |
| 12 kW | $3.22 | $27,083 | $30,709 | 11.7 years |
| 14 kW | $3.16 | $30,952 | $36,472 | 11.5 years |
| 16 kW | $3.09 | $34,637 | $42,419 | 11.2 years |
| 18 kW | $3.03 | $38,138 | $48,550 | 11.0 years |
| 20 kW | $2.96 | $41,454 | $54,866 | 10.8 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: If you care about the endurance of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Orem, UT Solar Cost FAQs
What is the average cost of installing solar panels in Orem?
The average cost of solar panels in Orem 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Orem?
Solar panels aren’t free in Orem, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will installing solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Orem is currently $481,840, which means you can look forward to a value of about $19,755 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Orem is a rewarding investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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.