Solar Panel Cost Guide in Richfield, UT (2024 Update)
- Richfield Solar Installation Cost: $12,029
- 25-Year Savings: $15,419
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Richfield
We go over average solar pricing in Richfield.
The national average cost of solar panels is $2.66 per watt, but in Richfield it’s 3 per watt.Since a 5.2-kW system is needed to cover the energy costs of a typical home in Richfield, the average price of going solar will be about $12,029 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
To get a free quote from a top solar installation company in Richfield, you can click the button below.
Solar savings over time in Richfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,032 |
| 3 years | $-9,040 |
| 5 years | $-7,048 |
| 7 years | $-5,056 |
| 9 years | $-3,064 |
| 11 years | $-1,071 |
| 13 years | $921 |
| 15 years | $2,913 |
| 17 years | $4,905 |
| 19 years | $6,898 |
| 21 years | $8,890 |
| 23 years | $10,882 |
| 25 years | $12,874 |
Top Solar Installers in Richfield
Although it's possible to install solar panels by yourself, it takes extra labor and know-how. That's why the majority of homeowners choose to hire a solar panel installer. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you're on the hunt for a solar installer in Richfield, the EcoWatch team has organized 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 Richfield
Factors that Affect Solar Panel Costs in Richfield
For many Richfield homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Richfield, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,290 per kilowatt in Richfield.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Richfield is the company you choose to install your PV system. As with choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $14,598 | 12.4 years |
| 8 kW | $3.36 | $18,792 | $19,832 | 12.2 years |
| 10 kW | $3.29 | $23,030 | $25,251 | 11.9 years |
| 12 kW | $3.22 | $27,083 | $30,854 | 11.7 years |
| 14 kW | $3.16 | $30,952 | $36,641 | 11.4 years |
| 16 kW | $3.09 | $34,637 | $42,612 | 11.2 years |
| 18 kW | $3.03 | $38,138 | $48,768 | 11.0 years |
| 20 kW | $2.96 | $41,454 | $55,108 | 10.7 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. Since selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of 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 satisfied reviews from previous customers.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion 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 Richfield, UT Solar Cost FAQs
What is the average cost of installing solar panels in Richfield?
The average cost of solar panels in Richfield 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Richfield?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Richfield?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out 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 house 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.