Solar Panel Cost Guide in Cottonwood Heights, UT (Aug 2022)
- Cottonwood Heights Solar Installation Cost: $10,392
- 25-Year Savings: $14,098
- Payback Period: 10.6 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Cottonwood Heights
Find out what the average cost of installing solar panels is in Cottonwood Heights.
Although the national average of solar panels is $2.66 per watt, solar panels in Cottonwood Heights generally cost about $3. The average Cottonwood Heights homeowner needs a 5.2-kilowatt system, which would cost about $10,392, or $7,690 after the federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Cottonwood Heights homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Even with the high upfront cost, the average Cottonwood Heights homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a highly rated solar panel company in Cottonwood Heights for a custom quote.
Solar savings over time in Cottonwood Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-9,412 |
| 3 years | $-7,453 |
| 5 years | $-5,494 |
| 7 years | $-3,535 |
| 9 years | $-1,576 |
| 11 years | $384 |
| 13 years | $2,343 |
| 15 years | $4,302 |
| 17 years | $6,261 |
| 19 years | $8,220 |
| 21 years | $10,179 |
| 23 years | $12,139 |
| 25 years | $14,098 |
Top Solar Installers in Cottonwood Heights
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make your switch to solar much easier. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Cottonwood Heights
Factors that Affect Solar Panel Costs in Cottonwood Heights
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Cottonwood Heights: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment Size
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size. Solar power systems with greater 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 brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cottonwood Heights to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Cottonwood Heights, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Cottonwood Heights have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $12,375 | $15,660 | 11.0 years |
| 8 kW | $2.73 | $16,183 | $21,198 | 10.8 years |
| 10 kW | $2.68 | $19,832 | $26,894 | 10.6 years |
| 12 kW | $2.63 | $23,322 | $32,749 | 10.4 years |
| 14 kW | $2.57 | $26,654 | $38,762 | 10.2 years |
| 16 kW | $2.52 | $29,827 | $44,934 | 10.0 years |
| 18 kW | $2.47 | $32,842 | $51,265 | 9.8 years |
| 20 kW | $2.41 | $35,698 | $57,755 | 9.5 years |
Solar Incentives in Cottonwood Heights
| Name | Renewable Energy Systems Tax Credit (Corporate) |
| Incentive Amount | Commercial wind, geothermal electric, and biomass systems 660 kW or greater, and solar PV systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years Other commercial technologies and commercial wind, geothermal electric, solar PV, and biomass systems smaller than 600 kW: 10% of installed cost Photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost |
| Incentive Max | Residential: $2,000 Commercial Production Tax Credit: No limit Commercial Investment Tax Credit: $50,000 |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Renewable Energy Systems Tax Credit (Personal) |
| Incentive Amount | Residential: 25% Commercial wind, geothermal electric, and biomass systems 660 kW or greater 0.35¢/kWh ($0.0035/kWh) for 4 years Other commercial technologies and commercial wind, geothermal electric, and biomass systems smaller than 660 kW: 10% of installed cost Solar photovoltaic systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years Solar photovoltaic systems smaller than 660 kW: 10% of installed costSolar photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost |
| Incentive Max | Residential: $2,000 (phases down for PV systems beginning in 2018) Commercial Production Tax Credit: No limit Commercial Investment Tax Credit: $50,000 |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are a large number of companies to choose from in Cottonwood Heights, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: When making the switch to solar, it's necessary to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar 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 (coming 2022)
EcoWatch's Cottonwood Heights, UT Solar Cost FAQs
What is the average cost of installing solar panels in Cottonwood Heights?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
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 $934.52 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.
