Solar Panel Cost Guide in Holladay, UT (2023 Update)
- Holladay Solar Installation Cost: $9,832
- 25-Year Savings: $14,320
- Payback Period: 10.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Holladay
Let's take a look at the average cost of solar panels in Holladay.
In Holladay, solar panels cost about 2.68 per watt on average. The average Holladay homeowner needs a 5.2-kilowatt system, which would cost about $9,830 with the federal tax credit, or $14,057 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more. With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Holladay find going solar can pay off big.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Holladay
| Year | Return on Investment |
|---|---|
| 1 years | $-8,836 |
| 3 years | $-6,844 |
| 5 years | $-4,852 |
| 7 years | $-2,859 |
| 9 years | $-867 |
| 11 years | $1,125 |
| 13 years | $3,117 |
| 15 years | $5,109 |
| 17 years | $7,102 |
| 19 years | $9,094 |
| 21 years | $11,086 |
| 23 years | $13,078 |
| 25 years | $15,071 |
Top Solar Installers in Holladay
Although you can install solar panels by yourself, it involves extra time and knowledge. For that reason, the majority of homeowners choose to go with a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be best for your family.
If you're looking for a solar company in Holladay, we've organized 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
See all of the solar companies in Holladay
Factors that Affect Solar Panel Costs in Holladay
There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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 a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Holladay, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Holladay, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $15,943 | 10.6 years |
| 8 kW | $2.73 | $15,308 | $21,558 | 10.4 years |
| 10 kW | $2.68 | $18,760 | $27,322 | 10.2 years |
| 12 kW | $2.63 | $22,062 | $33,237 | 10.0 years |
| 14 kW | $2.57 | $25,213 | $39,302 | 9.8 years |
| 16 kW | $2.52 | $28,215 | $45,517 | 9.6 years |
| 18 kW | $2.47 | $31,067 | $51,882 | 9.4 years |
| 20 kW | $2.41 | $33,768 | $58,397 | 9.2 years |
How to Save on Solar Panels
The solar panel company you choose 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 a few important things you should take into account, such as:
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Installation Process: Make sure you're on the same page with the company regarding 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: Homeowners will have different preferences for panels based on their roof configurations 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 offerings before deciding.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Holladay, UT Solar Cost FAQs
How much does it cost to install solar panels in Holladay?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
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 Holladay is currently $391,420, which means you could be looking at a value of about $16,048 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Holladay is a rewarding investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.