Solar Panel Cost Guide in Holladay, UT (2024 Update)
- Holladay Solar Installation Cost: $12,070
- 25-Year Savings: $14,320
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Holladay
We break down average solar pricing in Holladay.
The average cost of solar panels in Holladay is 3 per watt.The average Holladay homeowner needs a 5.2-kilowatt system, which would cost about $12,070 with the federal tax credit, or $17,260 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Holladay homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Even with the large initial cost, the average Holladay homeowner can save about $18,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Holladay
| 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 Holladay
Many homeowners choose to hire a solar installer since figuring out how to install solar panels yourself can be hard. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a licensed solar company can help you make the most of your investment in solar. 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 Holladay
Factors that Affect Solar Panel Costs in Holladay
The cost of installing a solar system in Holladay can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Holladay, 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 figure out by looking at past power bills. Your overall cost can increase by around $3,290 for each additional kilowatt you need.The brand of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to think 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 researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make going solar more accessible for Holladay homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Holladay, and each can charge varying amounts for labor and equipment.Some companies 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 | $13,279 | 13.0 years |
| 8 kW | $3.36 | $18,792 | $18,073 | 12.7 years |
| 10 kW | $3.29 | $23,030 | $23,052 | 12.5 years |
| 12 kW | $3.22 | $27,083 | $28,216 | 12.2 years |
| 14 kW | $3.16 | $30,952 | $33,563 | 12.0 years |
| 16 kW | $3.09 | $34,637 | $39,095 | 11.7 years |
| 18 kW | $3.03 | $38,138 | $44,811 | 11.5 years |
| 20 kW | $2.96 | $41,454 | $50,711 | 11.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- 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 large role in the company you choose.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 tough 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 other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Holladay?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels completely eradicate my power 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 $921.65 per year.
How often do you have to replace solar panels?
Even 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.