Solar Panel Cost Guide in Millcreek, UT (Oct 2022)
- Millcreek Solar Installation Cost: $9,830
- 25-Year Savings: $14,660
- Payback Period: 10.0 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Millcreek
We break down average solar pricing in Millcreek.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Millcreek, the typical cost of a solar system is $3 per watt. Using this figure, a typical 5.2 would cost about $9,830 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Millcreek 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. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $18,000 over 20 years on power bills.
To get a free estimate from a highly rated solar installer in Millcreek, you can click the button below.
Solar savings over time in Millcreek
| Year | Return on Investment |
|---|---|
| 1 years | $-8,851 |
| 3 years | $-6,891 |
| 5 years | $-4,932 |
| 7 years | $-2,973 |
| 9 years | $-1,014 |
| 11 years | $945 |
| 13 years | $2,904 |
| 15 years | $4,864 |
| 17 years | $6,823 |
| 19 years | $8,782 |
| 21 years | $10,741 |
| 23 years | $12,700 |
| 25 years | $14,660 |
Top Solar Installers in Millcreek
Installing solar panels by yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. Plus, if you're not certain what type of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Millcreek:
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 Millcreek
Factors that Affect Solar Panel Costs in Millcreek
Though the average cost of solar panels in Millcreek is $9,830, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment Size
One of the most significant 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 consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Millcreek. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Millcreek to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Millcreek is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fit into your budget.
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 | $16,329 | 10.4 years |
| 8 kW | $2.73 | $15,308 | $22,073 | 10.2 years |
| 10 kW | $2.68 | $18,760 | $27,966 | 10.0 years |
| 12 kW | $2.63 | $22,062 | $34,010 | 9.8 years |
| 14 kW | $2.57 | $25,213 | $40,203 | 9.6 years |
| 16 kW | $2.52 | $28,215 | $46,547 | 9.4 years |
| 18 kW | $2.47 | $31,067 | $53,040 | 9.2 years |
| 20 kW | $2.41 | $33,768 | $59,684 | 9.0 years |
Solar Incentives in Millcreek
| 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 numerous companies to choose from in Millcreek, 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:
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: The kind of solar panel you want plays a role in which installer you should choose, since different companies offer different panels.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Millcreek, UT Solar Cost FAQs
How much does it cost to install solar panels in Millcreek?
This is a tough question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Millcreek?
A solar panel system isn't free in Millcreek, 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 can further reduce the cost.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Millcreek, that will require at least a 10-kW system. Not all homes 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 many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 install 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.
