Solar Panel Cost Guide in Herriman, UT (2023 Update)
- Herriman Solar Installation Cost: $9,832
- 25-Year Savings: $14,294
- Payback Period: 10.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Herriman
Let's have a look at the average cost of solar in Herriman.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Herriman, the typical cost of a solar system is 2.68 per watt. Since a 5.2-kW system is needed to cover the energy consumption of a typical home in Herriman, the average price of going solar will be about $9,830 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on electricity bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Herriman
| Year | Return on Investment |
|---|---|
| 1 years | $-9,752 |
| 3 years | $-9,591 |
| 5 years | $-9,430 |
| 7 years | $-9,269 |
| 9 years | $-9,109 |
| 11 years | $-8,948 |
| 13 years | $-8,787 |
| 15 years | $-8,626 |
| 17 years | $-8,465 |
| 19 years | $-8,304 |
| 21 years | $-8,143 |
| 23 years | $-7,983 |
| 25 years | $-7,822 |
Top Solar Installers in Herriman
Although you can install solar panels on your own, it takes extra time and know-how. Because of that, most homeowners choose to hire a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't certain which solar company to go with, here are our suggestions for providers near you:
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 Herriman
Factors that Affect Solar Panel Costs in Herriman
For many Herriman homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Herriman, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Herriman, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Herriman homeowners choose to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can play a part in determining your pricing. Herriman's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Herriman are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $15,913 | 10.6 years |
| 8 kW | $2.73 | $15,308 | $21,518 | 10.4 years |
| 10 kW | $2.68 | $18,760 | $27,272 | 10.2 years |
| 12 kW | $2.63 | $22,062 | $33,177 | 10.0 years |
| 14 kW | $2.57 | $25,213 | $39,232 | 9.8 years |
| 16 kW | $2.52 | $28,215 | $45,437 | 9.6 years |
| 18 kW | $2.47 | $31,067 | $51,792 | 9.4 years |
| 20 kW | $2.41 | $33,768 | $58,297 | 9.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Herriman, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Herriman, UT Solar Cost FAQs
How much does it cost to install solar panels in Herriman?
The average cost of solar panels in Herriman 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 stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Herriman?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 savings from going solar.
Does Herriman have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 household 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.