Solar Panel Cost Guide in Draper, UT (Feb 2023)
- Draper Solar Installation Cost: $9,793
- 25-Year Savings: $13,924
- Payback Period: 10.3 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Draper
Find out how much it might cost to go solar in Draper.
In Draper, solar panels cost about $3 per watt on average. The average Draper homeowner needs a 5.2-kilowatt system, which would cost about $9,793, or $7,247 after the federal solar tax credit of 30% is applied.
These figures are just estimates, and your own solar costs may differ based on your specific situation and what company you choose to go with. With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Draper find going solar can be quite rewarding.
To receive a free quote from a vetted solar company in Draper, you can click the button below.
Solar savings over time in Draper
| Year | Return on Investment |
|---|---|
| 1 years | $-8,844 |
| 3 years | $-6,947 |
| 5 years | $-5,049 |
| 7 years | $-3,152 |
| 9 years | $-1,255 |
| 11 years | $642 |
| 13 years | $2,540 |
| 15 years | $4,437 |
| 17 years | $6,334 |
| 19 years | $8,232 |
| 21 years | $10,129 |
| 23 years | $12,026 |
| 25 years | $13,924 |
Top Solar Installers in Draper
When making the switch to solar, many homeowners decide to use a solar company since handling can be a challenging project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're on the hunt for a solar installer in Draper, 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 (coming 2022)
See all of the solar companies in Draper
Factors that Affect Solar Panel Costs in Draper
For many Draper homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Draper, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The kind of 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. On the other hand, higher efficiency 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 Draper average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Draper, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Draper, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $15,528 | 10.7 years |
| 8 kW | $2.73 | $15,308 | $21,005 | 10.5 years |
| 10 kW | $2.68 | $18,760 | $26,631 | 10.3 years |
| 12 kW | $2.63 | $22,062 | $32,407 | 10.1 years |
| 14 kW | $2.57 | $25,213 | $38,334 | 9.9 years |
| 16 kW | $2.52 | $28,215 | $44,410 | 9.7 years |
| 18 kW | $2.47 | $31,067 | $50,637 | 9.5 years |
| 20 kW | $2.41 | $33,768 | $57,014 | 9.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Long-running companies 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 quality aftercare and customer support, such as part repairs and replacements.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on 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 Draper, UT Solar Cost FAQs
How much does it cost to install solar panels in Draper?
The average cost of solar panels in Draper 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Draper?
You can't get solar panels for free in Draper. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Solar panels can increase your property's value considerably 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."
What solar power system size is right for 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 typically produce about 250 to 400 watt-hours per hour, the average household 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.