Solar Panel Cost Guide in Holladay, UT (2023 Update)
- Holladay Solar Installation Cost: $9,830
- 25-Year Savings: $14,322
- Payback Period: 10.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Holladay
We break down average solar pricing in Holladay.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Holladay, the typical cost of a solar system is 2.68 per watt. The average solar panel system size in Holladay is around 5.2 kilowatts, meaning a cost of about $9,830 for a solar installation, or $14,057 before the 30% federal solar 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 your situation, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar is worth paying. On average Holladay homeowners see about $18,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a custom quote.
Solar savings over time in Holladay
| Year | Return on Investment |
|---|---|
| 1 years | $-8,864 |
| 3 years | $-6,932 |
| 5 years | $-5,000 |
| 7 years | $-3,068 |
| 9 years | $-1,135 |
| 11 years | $797 |
| 13 years | $2,729 |
| 15 years | $4,661 |
| 17 years | $6,593 |
| 19 years | $8,526 |
| 21 years | $10,458 |
| 23 years | $12,390 |
| 25 years | $14,322 |
Top Solar Installers in Holladay
Installing solar panels by yourself can be a dangerous task, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
See all of the solar companies in Holladay
Factors that Affect Solar Panel Costs in Holladay
Even though the average cost of a solar system in Holladay is $9,830, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,680 per kilowatt in Holladay. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Holladay, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Holladay, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's important to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
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 get to install your solar system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
There are numerous companies available in Holladay, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- 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.
- Warranty: If you're concerned about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Holladay, UT Solar Cost FAQs
What is the average cost of installing solar panels in Holladay?
This is a tough 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Holladay?
Leasing solar panels can be an option if you can't 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 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 savings from going solar.
Can you sell solar power back to the grid in Holladay?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.