Solar Panel Cost Guide in Eagle Mountain, UT (2023 Update)
- Eagle Mountain Solar Installation Cost: $9,774
- 25-Year Savings: $14,352
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Eagle Mountain
Find out what the average cost of installing solar panels is in Eagle Mountain.
The national average cost of solar panels is $2.66 per watt, but in Eagle Mountain it's 2.68 per watt. To account for the typical energy usage of the average home in Eagle Mountain, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,774, or $13,977 before the federal solar tax credit of 30% is applied.
These figures are only averages, and how much solar costs for you may look different based on your specific situation and what company you want to go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Eagle Mountain can save around $18,000 on their electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Eagle Mountain
| Year | Return on Investment |
|---|---|
| 1 years | $-8,809 |
| 3 years | $-6,879 |
| 5 years | $-4,949 |
| 7 years | $-3,019 |
| 9 years | $-1,089 |
| 11 years | $842 |
| 13 years | $2,772 |
| 15 years | $4,702 |
| 17 years | $6,632 |
| 19 years | $8,562 |
| 21 years | $10,492 |
| 23 years | $12,422 |
| 25 years | $14,352 |
Top Solar Installers in Eagle Mountain
When switching to solar energy, many homeowners decide to go with a solar installation company since installing solar panels yourself can be a time-consuming project. Some solar companies, particularly local ones, can help you better understand incentives in Eagle Mountain, therefore optimizing your ROI.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Eagle Mountain
Factors that Affect Solar Panel Costs in Eagle Mountain
There are several factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different 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 use 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 type of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on 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
Many homeowners find the average cost of solar in Eagle Mountain to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. It's wise to include 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
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Eagle Mountain, and each can charge different amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 | $16,085 | 10.5 years |
| 8 kW | $2.73 | $15,308 | $21,747 | 10.3 years |
| 10 kW | $2.68 | $18,760 | $27,559 | 10.1 years |
| 12 kW | $2.63 | $22,062 | $33,521 | 9.9 years |
| 14 kW | $2.57 | $25,213 | $39,633 | 9.7 years |
| 16 kW | $2.52 | $28,215 | $45,896 | 9.5 years |
| 18 kW | $2.47 | $31,067 | $52,308 | 9.3 years |
| 20 kW | $2.41 | $33,768 | $58,870 | 9.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Warranty: If you're worried about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Long-running 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
EcoWatch's Eagle Mountain, UT Solar Cost FAQs
How much does it cost to install solar panels in Eagle Mountain?
This is a hard question to answer precisely, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Eagle Mountain is currently $331,451, so you could be looking at a value of about $13,589 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Eagle Mountain is a worthwhile investment.
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 level 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.