Solar Panel Cost Guide in Draper, UT (Aug 2022)
- Draper Solar Installation Cost: $10,352
- 25-Year Savings: $13,364
- Payback Period: 10.9 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Draper
Here's how much it might cost to go solar in Draper.
The national average cost of solar panels is $2.66 per watt, but in Draper it's $3 per watt. To cover the typical energy needs of the average home in Draper, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $10,352, or $7,660 after the federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Draper homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Draper can save about $17,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Draper that can help you get a more accurate cost estimate for your home.
Solar savings over time in Draper
| Year | Return on Investment |
|---|---|
| 1 years | $-9,404 |
| 3 years | $-7,506 |
| 5 years | $-5,609 |
| 7 years | $-3,712 |
| 9 years | $-1,814 |
| 11 years | $83 |
| 13 years | $1,980 |
| 15 years | $3,877 |
| 17 years | $5,775 |
| 19 years | $7,672 |
| 21 years | $9,569 |
| 23 years | $11,467 |
| 25 years | $13,364 |
Top Solar Installers in Draper
Installing solar panels yourself can be a challenging task, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Draper:
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 go solar 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 significantly influence the price you'll pay, which we'll go over below.
Solar Equipment Size
Size is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Draper, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increase your total costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Draper is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, you'll have many options for solar installers that offer a range of services at different costs. 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 access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $12,375 | $14,859 | 11.4 years |
| 8 kW | $2.73 | $16,183 | $20,130 | 11.1 years |
| 10 kW | $2.68 | $19,832 | $25,559 | 10.9 years |
| 12 kW | $2.63 | $23,322 | $31,147 | 10.7 years |
| 14 kW | $2.57 | $26,654 | $36,893 | 10.5 years |
| 16 kW | $2.52 | $29,827 | $42,798 | 10.3 years |
| 18 kW | $2.47 | $32,842 | $48,862 | 10.0 years |
| 20 kW | $2.41 | $35,698 | $55,084 | 9.8 years |
Solar Incentives in Draper
| 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 many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Reputation: Well-established companies likely have a good 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.
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 actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Draper?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.
