Solar Panel Cost Guide in Elk Ridge, UT (2024 Update)
- Elk Ridge Solar Installation Cost: $11,996
- 25-Year Savings: $16,237
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Elk Ridge
Find out what the average cost of installing solar panels is in Elk Ridge.
Although the national average of solar panels is $2.66 per watt, solar panels in Elk Ridge typically cost around 3.The average Elk Ridge homeowner needs a 5.2-kilowatt system, which would cost about $11,996 with the federal tax credit, or $17,154 before the 0 tax credit is applied.
The true price you pay can go higher or lower than the average in Elk Ridge depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Elk Ridge see about $19,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Elk Ridge that can help you get a more accurate cost estimate for your home.
Solar savings over time in Elk Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,999 |
| 3 years | $-9,007 |
| 5 years | $-7,015 |
| 7 years | $-5,023 |
| 9 years | $-3,030 |
| 11 years | $-1,038 |
| 13 years | $954 |
| 15 years | $2,946 |
| 17 years | $4,938 |
| 19 years | $6,931 |
| 21 years | $8,923 |
| 23 years | $10,915 |
| 25 years | $12,907 |
Top Solar Installers in Elk Ridge
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with an installer can make converting to solar power much easier. Another perk of going with a solar company is that they can help you make the most of your investment by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Elk Ridge
Factors that Affect Solar Panel Costs in Elk Ridge
The cost of installing a solar system in Elk Ridge can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
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 power your household uses, the larger your system will likely need to be. You can expect to spend around $3,290 per kilowatt in Elk Ridge.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Elk Ridge average.
Solar Financing Terms
Most solar companies in Elk Ridge have solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also increases your overall costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Elk Ridge, and each can charge different amounts for labor and equipment.Additionally, some companies in Elk Ridge know more 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 | $3.42 | $14,371 | $15,588 | 12.0 years |
| 8 kW | $3.36 | $18,792 | $21,153 | 11.8 years |
| 10 kW | $3.29 | $23,030 | $26,902 | 11.5 years |
| 12 kW | $3.22 | $27,083 | $32,835 | 11.3 years |
| 14 kW | $3.16 | $30,952 | $38,952 | 11.1 years |
| 16 kW | $3.09 | $34,637 | $45,254 | 10.8 years |
| 18 kW | $3.03 | $38,138 | $51,740 | 10.6 years |
| 20 kW | $2.96 | $41,454 | $58,410 | 10.4 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Elk Ridge, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- 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 quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Elk Ridge, UT Solar Cost FAQs
What is the average cost of installing solar panels in Elk Ridge?
The average cost of solar panels in Elk Ridge is about $16,450 for a 5-kW system and $32,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Elk Ridge?
You can’t get solar panels for free in Elk Ridge. However, you may still be able to install 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.
Can solar panels eliminate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Elk Ridge, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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.