Solar Panel Cost Guide in Hyde Park, UT (Sep 2022)

  • Hyde Park Solar Installation Cost: $9,661
  • 25-Year Savings: $15,236
  • Payback Period: 9.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Hyde Park

We go over average solar pricing in Hyde Park.

The average cost of solar panels in Hyde Park is $3 per watt. Using this figure, a typical 5.2 would cost about $9,661 before the 30% federal solar tax credit is applied.

How much you pay can be higher or lower than the average in Hyde Park depending on several factors, such as the kind of solar panels you choose and the solar contractor you hire. With average savings of about $18,000 on energy bills over 20 years, many homeowners in Hyde Park find installing solar panels can be quite rewarding.

Click the button below to get connected to a reputable solar panel company in Hyde Park for a personalized estimate.

Solar savings over time in Hyde Park

Year Return on Investment
1 years $-8,666
3 years $-6,674
5 years $-4,682
7 years $-2,690
9 years $-698
11 years $1,293
13 years $3,285
15 years $5,277
17 years $7,269
19 years $9,260
21 years $11,252
23 years $13,244
25 years $15,236

Top Solar Installers in Hyde Park

Although you can install solar panels by yourself, it requires extra labor and know-how. That's one of the reasons most people choose a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.

If you're looking for a solar installer in Hyde Park, the EcoWatch team has put together 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 Hyde Park

Factors that Affect Solar Panel Costs in Hyde Park

Though the average cost of solar panels in Hyde Park is $9,661, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,680 per kilowatt in Hyde Park. The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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 searching for a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Hyde Park to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. It's a good idea 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 back the loan.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Hyde Park is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services at different costs. Larger national companies typically 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 additional services like electric vehicle 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 $17,310 10.1 years
8 kW $2.73 $15,308 $23,380 9.9 years
10 kW $2.68 $18,760 $29,601 9.7 years
12 kW $2.63 $22,062 $35,971 9.5 years
14 kW $2.57 $25,213 $42,492 9.3 years
16 kW $2.52 $28,215 $49,162 9.1 years
18 kW $2.47 $31,067 $55,983 8.9 years
20 kW $2.41 $33,768 $62,954 8.7 years

Solar Incentives in Hyde Park

Name Renewable Energy Systems Tax Credit (Corporate)
Website Visit here
More Info Click here

Name Renewable Energy Systems Tax Credit (Personal)
Website Visit here
More Info Click here

Name Rocky Mountain Power - wattsmart Residential Efficiency Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • 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 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 Hyde Park, UT Solar Cost FAQs

How much does it cost to install solar panels in Hyde Park?

This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Are solar panels free in Hyde Park?

Solar panels aren't free in Hyde Park, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

How much can I save on power bills after installing solar panels?

It is possible to erase your electricity bills with solar panels, but for most homeowners in Hyde Park, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Hyde Park?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of 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 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.

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