Solar Panel Cost Guide in Beaver, UT (2023 Update)
- Beaver Solar Installation Cost: $9,455
- 25-Year Savings: $16,721
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Beaver
Let's take a look at the average cost of solar in Beaver.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Beaver, the typical cost of a solar system is 2.68 per watt. Using this figure, a typical 5.0-kW system would cost about $9,455 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what company you go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $20,000 over 20 years on electricity bills.
Click the button below to get connected to a reputable solar panel company in Beaver for a personalized estimate.
Solar savings over time in Beaver
| Year | Return on Investment |
|---|---|
| 1 years | $-8,408 |
| 3 years | $-6,314 |
| 5 years | $-4,220 |
| 7 years | $-2,126 |
| 9 years | $-32 |
| 11 years | $2,063 |
| 13 years | $4,157 |
| 15 years | $6,251 |
| 17 years | $8,345 |
| 19 years | $10,439 |
| 21 years | $12,533 |
| 23 years | $14,627 |
| 25 years | $16,721 |
Top Solar Installers in Beaver
When going solar, many homeowners decide to go with a solar installation company since DIY solar panel installation can be a time-consuming project. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
If you're looking for a solar company in Beaver, the EcoWatch team has 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
See all of the solar companies in Beaver
Factors that Affect Solar Panel Costs in Beaver
For many Beaver homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Beaver, with typical prices between $20,000 to $40,000. There are a number of 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 spend around $2,680 per kilowatt in Beaver. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Beaver, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. Although solar loans make switching to solar energy more accessible for Beaver homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Beaver, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Beaver are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $19,459 | 9.4 years |
| 8 kW | $2.73 | $15,308 | $26,245 | 9.2 years |
| 10 kW | $2.68 | $18,760 | $33,182 | 9.0 years |
| 12 kW | $2.63 | $22,062 | $40,269 | 8.8 years |
| 14 kW | $2.57 | $25,213 | $47,505 | 8.7 years |
| 16 kW | $2.52 | $28,215 | $54,892 | 8.5 years |
| 18 kW | $2.47 | $31,067 | $62,429 | 8.3 years |
| 20 kW | $2.41 | $33,768 | $70,116 | 8.1 years |
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. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability 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.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Beaver, UT Solar Cost FAQs
What is the average cost of installing solar panels in Beaver?
The average cost of solar panels in Beaver is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Beaver?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,038.84 per year.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.