Solar Panel Cost Guide in Ephraim, UT (2023 Update)
- Ephraim Solar Installation Cost: $9,811
- 25-Year Savings: $16,365
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ephraim
Let's have a look at the average cost of solar panels in Ephraim.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ephraim, the typical cost of a solar system is 2.68 per watt. Since a 5.2-kW system is needed to cover the energy costs of a typical home in Ephraim, the average price of going solar will be about $9,811 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary based on several factors, such as how many panels you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
Click the button below to get connected to a highly rated solar panel company in your area for a custom estimate.
Solar savings over time in Ephraim
| Year | Return on Investment |
|---|---|
| 1 years | $-8,764 |
| 3 years | $-6,670 |
| 5 years | $-4,576 |
| 7 years | $-2,482 |
| 9 years | $-388 |
| 11 years | $1,706 |
| 13 years | $3,800 |
| 15 years | $5,894 |
| 17 years | $7,989 |
| 19 years | $10,083 |
| 21 years | $12,177 |
| 23 years | $14,271 |
| 25 years | $16,365 |
Top Solar Installers in Ephraim
Many homeowners choose to hire a solar installer since trying to put up solar panels yourself can be a lot of work. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for your family.
If you're on the hunt for a solar company in Ephraim, 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 Ephraim
Factors that Affect Solar Panel Costs in Ephraim
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Ephraim: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Ephraim, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,680 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Ephraim is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Ephraim are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $2.79 | $11,706 | $18,346 | 9.7 years |
| 8 kW | $2.73 | $15,308 | $24,762 | 9.6 years |
| 10 kW | $2.68 | $18,760 | $31,328 | 9.4 years |
| 12 kW | $2.63 | $22,062 | $38,043 | 9.2 years |
| 14 kW | $2.57 | $25,213 | $44,909 | 9.0 years |
| 16 kW | $2.52 | $28,215 | $51,925 | 8.8 years |
| 18 kW | $2.47 | $31,067 | $59,091 | 8.6 years |
| 20 kW | $2.41 | $33,768 | $66,407 | 8.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the completion timeline.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Ephraim, UT Solar Cost FAQs
What is the average cost of installing solar panels in Ephraim?
This is a tough 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Ephraim?
You can't get solar panels for free in Ephraim. However, you may still be able to get 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 completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,001.75 per year.
How long do solar panels last in Ephraim?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.