Solar Panel Cost Guide in Park City, TN (2024 Update)
- Park City Solar Installation Cost: $19,697
- 25-Year Savings: $9,525
- Payback Period: 21.2 Years
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Average Cost of Solar Panels in Park City
We go over average solar pricing in Park City.
The average cost of solar panels in Park City is 4 per watt.The average Park City homeowner needs a 7.9-kilowatt system, which would cost about $19,697 with the federal tax credit, or $28,167 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $12,000 over 20 years on power bills.
To get a free estimate from a vetted solar installation company in Park City, you can click the button below.
Solar savings over time in Park City
| Year | Return on Investment |
|---|---|
| 1 years | $-18,132 |
| 3 years | $-15,002 |
| 5 years | $-11,873 |
| 7 years | $-8,743 |
| 9 years | $-5,614 |
| 11 years | $-2,484 |
| 13 years | $645 |
| 15 years | $3,775 |
| 17 years | $6,904 |
| 19 years | $10,034 |
| 21 years | $13,163 |
| 23 years | $16,293 |
| 25 years | $19,422 |
Top Solar Installers in Park City
Many homeowners opt for a solar installation company since trying to install solar panels by yourself can be a labor-intensive endeavor. Another great thing about using a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar company in Park City, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Park City
Factors that Affect Solar Panel Costs in Park City
Even though the average cost of a solar system in Park City is $19,697, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar energy system you need for your home, 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 $3,580. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Park City, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Park City have solar loans, which reduce the initial cost of installing solar.It’s wise to include 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you select will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $3.72 | $15,637 | $2,091 | 22.1 years |
| 8 kW | $3.65 | $20,449 | $3,190 | 21.6 years |
| 10 kW | $3.58 | $25,060 | $4,488 | 21.2 years |
| 12 kW | $3.51 | $29,471 | $5,987 | 20.8 years |
| 14 kW | $3.44 | $33,681 | $7,687 | 20.4 years |
| 16 kW | $3.37 | $37,690 | $9,587 | 19.9 years |
| 18 kW | $3.29 | $41,499 | $11,687 | 19.5 years |
| 20 kW | $3.22 | $45,108 | $13,988 | 19.1 years |
How to Save on Solar Panels
Since the model 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 select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The model of solar panel you need plays a part in which installer you should go with, since different companies have different panels.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
EcoWatch's Park City, TN Solar Cost FAQs
What is the average cost of installing solar panels in Park City?
The average cost of solar panels in Park City is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 cover 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.