Solar Panel Cost Guide in Hyde Park, UT (2023 Update)
- Hyde Park Solar Installation Cost: $11,856
- 25-Year Savings: $15,239
- Payback Period: 11.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated October 25, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hyde Park
Find out what the average cost of solar panels are in Hyde Park.
In Hyde Park, solar panels cost about 2.68 per watt on average.To cover the typical energy needs of the average home in Hyde Park, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $9,661, or $13,815 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Hyde Park find going solar can be quite rewarding.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hyde Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,860 |
| 3 years | $-8,868 |
| 5 years | $-6,876 |
| 7 years | $-4,883 |
| 9 years | $-2,891 |
| 11 years | $-899 |
| 13 years | $1,093 |
| 15 years | $3,086 |
| 17 years | $5,078 |
| 19 years | $7,070 |
| 21 years | $9,062 |
| 23 years | $11,054 |
| 25 years | $13,047 |
Top Solar Installers in Hyde Park
Although it's possible to install solar panels by yourself, it requires extra energy and expertise. That's why most people choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Hyde Park
Factors that Affect Solar Panel Costs in Hyde Park
The cost of installing a solar system in Hyde Park can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home 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 solar panels in Hyde Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,680 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond 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 looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies in Hyde Park, and each can charge varying amounts for labor and equipment.The company's size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $14,646 | 12.4 years |
| 8 kW | $3.36 | $18,792 | $19,896 | 12.1 years |
| 10 kW | $3.29 | $23,030 | $25,331 | 11.9 years |
| 12 kW | $3.22 | $27,083 | $30,950 | 11.7 years |
| 14 kW | $3.16 | $30,952 | $36,753 | 11.4 years |
| 16 kW | $3.09 | $34,637 | $42,740 | 11.2 years |
| 18 kW | $3.03 | $38,138 | $48,912 | 11.0 years |
| 20 kW | $2.96 | $41,454 | $55,268 | 10.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hyde Park, UT Solar Cost FAQs
How much does it cost to install solar panels in Hyde Park?
The average cost of solar panels in Hyde Park is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Hyde Park?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
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 are completely unusable 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 keep using 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.