Solar Panel Cost Guide in Millcreek, UT (2023 Update)
- Millcreek Solar Installation Cost: $9,832
- 25-Year Savings: $14,657
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Millcreek
We break down average solar pricing in Millcreek.
In Millcreek, solar panels cost about 2.68 per watt on average. The average solar panel system size in Millcreek is around 5.2 kilowatts, meaning a cost of about $9,830 for a solar installation, or $14,057 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Millcreek
| Year | Return on Investment |
|---|---|
| 1 years | $-8,836 |
| 3 years | $-6,844 |
| 5 years | $-4,852 |
| 7 years | $-2,859 |
| 9 years | $-867 |
| 11 years | $1,125 |
| 13 years | $3,117 |
| 15 years | $5,109 |
| 17 years | $7,102 |
| 19 years | $9,094 |
| 21 years | $11,086 |
| 23 years | $13,078 |
| 25 years | $15,071 |
Top Solar Installers in Millcreek
Installing solar panels on your own can be a difficult undertaking, which is why getting a solar installation company is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:
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 Millcreek
Factors that Affect Solar Panel Costs in Millcreek
The cost of installing a solar system in Millcreek can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,680. The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than 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 researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Millcreek have solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also adds to your overall costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Millcreek, and each can charge different amounts for labor and equipment. Companies that 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 cost more. It's best to do some research and choose a company that provides 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 |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Millcreek, UT Solar Cost FAQs
What is the average cost of installing solar panels in Millcreek?
This is a tough question to answer precisely, because the cost depends on many 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
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 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 many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.
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.