Solar Panel Cost Guide in Smithfield, UT (2024 Update)
- Smithfield 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 Smithfield
Let’s have a look at the average cost of solar in Smithfield.
The average cost of a solar panel system in Smithfield is 3 per watt.The average solar panel system size in Smithfield 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.
Bear in mind that the figures above are only estimates based on the average Smithfield homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Smithfield see about $18,000 in savings on electricity bills over 20 years.
To receive a free quote from a vetted solar installation company in Smithfield, you can click the button below.
Solar savings over time in Smithfield
| 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 Smithfield
Many homeowners opt for a solar installer since trying to put up solar panels yourself can be hard. The payback period on an investment in solar panels will vary depending on factors like your location and energy usage, but working with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
There are several licensed solar professionals that can help you install your solar panels. 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 Smithfield
Factors that Affect Solar Panel Costs in Smithfield
For many Smithfield homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Smithfield, 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 installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,290 per kilowatt in Smithfield.The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Smithfield homeowners opt to finance their solar panel systems to make paying for solar more affordable.Though solar loans make going solar more accessible for Smithfield homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect how much it costs. Smithfield’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger 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 | $14,646 | 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
Since the brand of solar panels and the installer you choose significantly impacts 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: The model of solar panel you want to install plays a role in which installer you should opt for, since different companies have access to different panels.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Smithfield, UT Solar Cost FAQs
How much does it cost to install solar panels in Smithfield?
The average cost of solar panels in Smithfield 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Smithfield?
A solar panel system isn’t free in Smithfield, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is making the switch to solar worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.