Solar Panel Cost Guide in Salt Lake City, UT (2024 Update)
- Salt Lake City 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 Salt Lake City
Let’s have a look at the average cost of solar in Salt Lake City.
In Salt Lake City, solar panels cost about 3 per watt on average.The average Salt Lake City homeowner needs a 5.2-kilowatt system, which would cost about $12,070 with the federal tax credit, or $17,260 before the 0 tax credit is applied.
The actual price you pay can be higher or lower than the average in Salt Lake City based on a few factors, such as the type of solar panels you choose and the solar company you hire.With average savings of about $19,000 on utility bills over 20 years, many homeowners in Salt Lake City find going solar has a decent ROI.
To get a free quote from a pre-vetted solar company in Salt Lake City, you can click the button below.
Solar savings over time in Salt Lake City
| 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 Salt Lake City
When making the switch to solar, many homeowners prefer to hire a solar company since installing a solar system yourself can be a challenging project. The payback period on an investment in solar panels will vary depending on factors like your location and energy use, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Salt Lake City:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Salt Lake City
Factors that Affect Solar Panel Costs in Salt Lake City
For many Salt Lake City homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Salt Lake City, with typical prices between $20,000 to $40,000. There are several 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 adopting solar energy 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 around $3,290 per kilowatt in Salt Lake City.There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Salt Lake City provide solar loans, which reduce the initial cost of installing a solar system.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Salt Lake City, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: If you’re worried about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Salt Lake City, UT Solar Cost FAQs
How much does it cost to install solar panels in Salt Lake City?
The average cost of solar panels in Salt Lake City is about $16,450 for a 5-kW system and $32,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Salt Lake City?
You can’t get solar panels for free in Salt Lake City. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Salt Lake City, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Salt Lake City?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.