Solar Panel Cost Guide in Morgan, UT (2023 Update)
- Morgan Solar Installation Cost: $9,568
- 25-Year Savings: $16,609
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Morgan
We break down average solar pricing in Morgan.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Morgan, the average cost of a solar system is 2.68 per watt. Since a 5.1-kW system is needed to cover the energy usage of a typical home in Morgan, the average price of going solar will be about $9,568 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more. With typical savings of about $20,000 on power bills over 20 years, many homeowners in Morgan find installing solar panels can pay off big.
To get a free quote from a top solar company in Morgan, you can click the button below.
Solar savings over time in Morgan
| Year | Return on Investment |
|---|---|
| 1 years | $-8,521 |
| 3 years | $-6,426 |
| 5 years | $-4,332 |
| 7 years | $-2,238 |
| 9 years | $-144 |
| 11 years | $1,950 |
| 13 years | $4,044 |
| 15 years | $6,138 |
| 17 years | $8,232 |
| 19 years | $10,327 |
| 21 years | $12,421 |
| 23 years | $14,515 |
| 25 years | $16,609 |
Top Solar Installers in Morgan
Many homeowners choose to hire a solar panel company since trying to install solar panels on your own can be time-consuming. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
If you'd like to go solar but still aren't sure which solar 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 Morgan
Factors that Affect Solar Panel Costs in Morgan
There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,680 per kilowatt in Morgan. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Even though solar loans make going solar more accessible for Morgan homeowners, they can also add to the total you pay for your system, depending on your interest rate. 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 final major cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Morgan, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Morgan have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $19,092 | 9.5 years |
| 8 kW | $2.73 | $15,308 | $25,756 | 9.3 years |
| 10 kW | $2.68 | $18,760 | $32,570 | 9.1 years |
| 12 kW | $2.63 | $22,062 | $39,534 | 9.0 years |
| 14 kW | $2.57 | $25,213 | $46,648 | 8.8 years |
| 16 kW | $2.52 | $28,215 | $53,913 | 8.6 years |
| 18 kW | $2.47 | $31,067 | $61,327 | 8.4 years |
| 20 kW | $2.41 | $33,768 | $68,892 | 8.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: Make sure you're aligned with the installer with regard to 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: Look through the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Morgan, UT Solar Cost FAQs
How much does it cost to install solar panels in Morgan?
The average cost of solar panels in Morgan is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Morgan?
You can't get solar panels for free in Morgan. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't opt for 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."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.