Solar Panel Cost Guide in American Fork, UT (2023 Update)
- American Fork Solar Installation Cost: $9,774
- 25-Year Savings: $13,942
- Payback Period: 10.3 Years
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Updated May 04, 2023
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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.
In American Fork, solar panels cost about 2.68 per watt on average. Using this figure, a typical 5.2-kW system would cost about $9,774 before the 30% federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will differ 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 personalized quote from a local solar company that has been pre-vetted by EcoWatch, 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
Many homeowners opt for a solar panel company since installing solar panels yourself can be a labor-intensive endeavor. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 American Fork
Factors that Affect Solar Panel Costs in American Fork
For many American Fork homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in American Fork, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the American Fork average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in American Fork, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. 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
A final consideration when trying to figure out the cost of solar for your home or business in American Fork is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for example, you'll have many options for solar installers that provide a range of services for different budgets. 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 |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- 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.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's American Fork, UT Solar Cost FAQs
How much does it cost to install solar panels in American Fork?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
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 get 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't go 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 many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.