Solar Panel Cost Guide in Hyde Park, UT (2025 Update)
- Hyde Park Solar Installation Cost: $11,856
- 25-Year Savings: $15,239
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Hyde Park
We go over average solar pricing in Hyde Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hyde Park, the typical cost of a solar system is 3 per watt.The average solar panel system size in Hyde Park is around 5.1 kilowatts, meaning a cost of about $11,856 for a solar installation, or $16,954 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer 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 pay off big.
To get a free estimate from a vetted solar installer in Hyde Park, you can 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
When switching to solar energy, many homeowners decide to hire a solar company since installing solar panels yourself can be a challenging project. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over time.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Hyde Park
Factors that Affect Solar Panel Costs in Hyde Park
There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,290.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Hyde Park, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Hyde Park, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $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
There are many companies available in Hyde Park, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- 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 hire.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
EcoWatch's Hyde Park, UT Solar Cost FAQs
What is the average cost of installing solar panels in Hyde Park?
The average cost of solar panels in Hyde Park is about $16,450 for a 5-kW system and $32,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Hyde Park?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 financial benefits from going solar.
Can solar panels significantly reduce my electricity bills?
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 check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.