Solar Panel Cost Guide in Holladay, UT (Aug 2022)

  • Holladay Solar Installation Cost: $10,392
  • 25-Year Savings: $13,761
  • Payback Period: 10.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Holladay

Find out how much it might cost to go solar in Holladay.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Holladay, the average cost of a solar system is $3 per watt. The average solar panel system size in Holladay is around 5.2 kilowatts, meaning a cost of about $10,392 for a solar installation, or $7,690 after the federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on utility bills.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Holladay

Year Return on Investment
1 years $-9,426
3 years $-7,494
5 years $-5,561
7 years $-3,629
9 years $-1,697
11 years $235
13 years $2,167
15 years $4,100
17 years $6,032
19 years $7,964
21 years $9,896
23 years $11,828
25 years $13,761

Top Solar Installers in Holladay

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar company can make switching to solar much easier. The payback period of solar panels will vary depending on factors like your location and energy needs, but going with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.

If you're on the hunt for a solar company in Holladay, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

See all of the solar companies in Holladay

Factors that Affect Solar Panel Costs in Holladay

Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Holladay: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size. Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,680. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for solar panels out of pocket is difficult, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Holladay is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services for different budgets. 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 extra 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 $12,375 $15,274 11.2 years
8 kW $2.73 $16,183 $20,683 11.0 years
10 kW $2.68 $19,832 $26,250 10.8 years
12 kW $2.63 $23,322 $31,976 10.5 years
14 kW $2.57 $26,654 $37,861 10.3 years
16 kW $2.52 $29,827 $43,905 10.1 years
18 kW $2.47 $32,842 $50,107 9.9 years
20 kW $2.41 $35,698 $56,467 9.7 years

Solar Incentives in Holladay

Name Renewable Energy Systems Tax Credit (Corporate)
Incentive Amount Commercial wind, geothermal electric, and biomass systems 660 kW or greater, and solar PV systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years
Other commercial technologies and commercial wind, geothermal electric, solar PV, and biomass systems smaller than 600 kW: 10% of installed cost
Photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost
Incentive Max Residential: $2,000
Commercial Production Tax Credit: No limit
Commercial Investment Tax Credit: $50,000
Website Visit here
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Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Renewable Energy Systems Tax Credit (Personal)
Incentive Amount Residential: 25%
Commercial wind, geothermal electric, and biomass systems 660 kW or greater 0.35¢/kWh ($0.0035/kWh) for 4 years
Other commercial technologies and commercial wind, geothermal electric, and biomass systems smaller than 660 kW: 10% of installed cost
Solar photovoltaic systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years
Solar photovoltaic systems smaller than 660 kW: 10% of installed costSolar photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost
Incentive Max Residential: $2,000 (phases down for PV systems beginning in 2018)
Commercial Production Tax Credit: No limit
Commercial Investment Tax Credit: $50,000
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:

  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
  • Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

EcoWatch's Holladay, UT Solar Cost FAQs

What is the average cost of installing solar panels in Holladay?

The average cost of solar panels in Holladay 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 things such as the type of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can solar panels eliminate 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?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

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