Solar Panel Cost Guide in American Fork, UT (Oct 2022)
- American Fork Solar Installation Cost: $9,774
- 25-Year Savings: $13,942
- Payback Period: 10.3 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in American Fork
Here's how much it might cost to install solar panels in American Fork.
Although the national average of solar panels is $2.66 per watt, solar panels in American Fork typically cost around $3. Using this figure, a typical 5.2 would cost about $9,774 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely vary based on the amount of energy your home requires and what company you want to go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in American Fork
| Year | Return on Investment |
|---|---|
| 1 years | $-8,825 |
| 3 years | $-6,928 |
| 5 years | $-5,031 |
| 7 years | $-3,133 |
| 9 years | $-1,236 |
| 11 years | $661 |
| 13 years | $2,558 |
| 15 years | $4,456 |
| 17 years | $6,353 |
| 19 years | $8,250 |
| 21 years | $10,148 |
| 23 years | $12,045 |
| 25 years | $13,942 |
Top Solar Installers in American Fork
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using an installer can make swapping over to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.
If you're looking for a solar company in American Fork, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
See all of the solar companies in American Fork
Factors that Affect Solar Panel Costs in American Fork
There are several criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment Size
System size is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like American Fork, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can influence your pricing. American Fork's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $2.79 | $11,706 | $15,613 | 10.7 years |
| 8 kW | $2.73 | $15,308 | $21,117 | 10.5 years |
| 10 kW | $2.68 | $18,760 | $26,772 | 10.3 years |
| 12 kW | $2.63 | $22,062 | $32,576 | 10.1 years |
| 14 kW | $2.57 | $25,213 | $38,531 | 9.9 years |
| 16 kW | $2.52 | $28,215 | $44,636 | 9.7 years |
| 18 kW | $2.47 | $31,067 | $50,891 | 9.5 years |
| 20 kW | $2.41 | $33,768 | $57,296 | 9.3 years |
Solar Incentives in American Fork
| Name | Renewable Energy Systems Tax Credit (Corporate) |
| Website | Visit here |
| More Info | Click here |
| Name | Renewable Energy Systems Tax Credit (Personal) |
| Website | Visit here |
| More Info | Click here |
| Name | Rocky Mountain Power - wattsmart Residential Efficiency Program |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: When making the switch to solar energy, it's essential to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's American Fork, UT Solar Cost FAQs
What is the average cost of installing solar panels in American Fork?
The average cost of solar panels in American Fork is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in American Fork?
You can't get solar panels for free in American Fork. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in American Fork?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.
