Solar Panel Cost Guide in Midway, UT (2024 Update)
- Midway Solar Installation Cost: $11,813
- 25-Year Savings: $16,554
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Midway
Let’s take a look at the average cost of solar in Midway.
Although the national average of solar panels is $2.66 per watt, solar panels in Midway generally cost about 3.The average Midway homeowner needs a 5.1-kilowatt system, which would cost about $11,813 with the federal tax credit, or $16,893 before the 0 tax credit is applied.
The true price you pay can be higher or lower than the average in Midway based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a solid investment. The average homeowner in Midway can save about $19,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Midway
| Year | Return on Investment |
|---|---|
| 1 years | $-10,817 |
| 3 years | $-8,825 |
| 5 years | $-6,833 |
| 7 years | $-4,840 |
| 9 years | $-2,848 |
| 11 years | $-856 |
| 13 years | $1,136 |
| 15 years | $3,129 |
| 17 years | $5,121 |
| 19 years | $7,113 |
| 21 years | $9,105 |
| 23 years | $11,097 |
| 25 years | $13,090 |
Top Solar Installers in Midway
Many homeowners decide to hire a solar installer since trying to install solar panels by yourself can be a labor-intensive endeavor. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for your home.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- 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 Midway
Factors that Affect Solar Panel Costs in Midway
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of solar panels in Midway, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $3,290 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Midway average.
Solar Financing Terms
Many homeowners find the average cost of solar in Midway to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.While solar loans make switching to solar energy more accessible for Midway homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies operating in Midway, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better 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 promotion can bring their pricing lower to compete with bigger companies.
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 | $16,248 | 11.7 years |
| 8 kW | $3.36 | $18,792 | $22,032 | 11.5 years |
| 10 kW | $3.29 | $23,030 | $28,001 | 11.3 years |
| 12 kW | $3.22 | $27,083 | $34,154 | 11.1 years |
| 14 kW | $3.16 | $30,952 | $40,491 | 10.8 years |
| 16 kW | $3.09 | $34,637 | $47,012 | 10.6 years |
| 18 kW | $3.03 | $38,138 | $53,718 | 10.4 years |
| 20 kW | $2.96 | $41,454 | $60,608 | 10.2 years |
How to Save on Solar Panels
There are numerous companies to choose from in Midway, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you’re worried about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Different companies have various brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- 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 Midway, UT Solar Cost FAQs
What is the average cost of installing solar panels in Midway?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $16,450 for a 5-kW system and $32,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Midway?
A solar panel system isn’t free in Midway, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Midway?
On average, solar panels can last 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.