Solar Panel Cost Guide in Herriman, UT (2024 Update)
- Herriman Solar Installation Cost: $12,070
- 25-Year Savings: $14,294
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Herriman
Here’s how much it might cost to switch to solar power in Herriman.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Herriman, the average cost of a solar system is 3 per watt.To cover the typical energy usage of the average home in Herriman, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,070, or $17,260 before the federal solar tax credit of 0 is applied.
These figures are just averages, and your own solar costs may vary based on factors unique to your home and what company you go with.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Herriman can save about $17,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Herriman
| Year | Return on Investment |
|---|---|
| 1 years | $-11,074 |
| 3 years | $-9,082 |
| 5 years | $-7,090 |
| 7 years | $-5,097 |
| 9 years | $-3,105 |
| 11 years | $-1,113 |
| 13 years | $879 |
| 15 years | $2,872 |
| 17 years | $4,864 |
| 19 years | $6,856 |
| 21 years | $8,848 |
| 23 years | $10,840 |
| 25 years | $12,833 |
Top Solar Installers in Herriman
Many homeowners opt for a solar panel installer since installing solar panels by yourself can be time-consuming. Some solar installers, especially local ones, can help you take advantage of incentives in Herriman, therefore optimizing your ROI.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Herriman:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Herriman
Factors that Affect Solar Panel Costs in Herriman
The cost of installing a solar system in Herriman can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond 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 looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Herriman to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can influence your pricing. Herriman’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that has the products, warranties and services you want and also fits within your budget.
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 | $13,249 | 13.0 years |
| 8 kW | $3.36 | $18,792 | $18,033 | 12.8 years |
| 10 kW | $3.29 | $23,030 | $23,002 | 12.5 years |
| 12 kW | $3.22 | $27,083 | $28,156 | 12.3 years |
| 14 kW | $3.16 | $30,952 | $33,493 | 12.0 years |
| 16 kW | $3.09 | $34,637 | $39,015 | 11.8 years |
| 18 kW | $3.03 | $38,138 | $44,721 | 11.5 years |
| 20 kW | $2.96 | $41,454 | $50,611 | 11.3 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project timeline.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Herriman, UT Solar Cost FAQs
What is the average cost of installing solar panels in Herriman?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $16,450 for a 5-kW system and $32,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Herriman?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Herriman is currently $579,867, so you could be looking at a value of about $23,775 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Herriman is a fruitful investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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 house 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.