Solar Panel Cost Guide in Nibley, UT (2023 Update)
- Nibley Solar Installation Cost: $9,661
- 25-Year Savings: $14,773
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Nibley
Find out what the average cost of solar panel installation is in Nibley.
In Nibley, solar panels cost about 2.68 per watt on average. To cover the typical energy needs of the average home in Nibley, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,661, or $13,815 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar system you want to get, your solar contractor and more. Despite the significant initial cost, the average Nibley homeowner can save around $18,000 on their power bills over 20 years, which is one of the advantages of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Nibley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,684 |
| 3 years | $-6,729 |
| 5 years | $-4,775 |
| 7 years | $-2,820 |
| 9 years | $-865 |
| 11 years | $1,090 |
| 13 years | $3,044 |
| 15 years | $4,999 |
| 17 years | $6,954 |
| 19 years | $8,908 |
| 21 years | $10,863 |
| 23 years | $12,818 |
| 25 years | $14,773 |
Top Solar Installers in Nibley
Although it's possible to install solar panels by yourself, it requires extra energy and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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 Nibley
Factors that Affect Solar Panel Costs in Nibley
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Nibley: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Nibley, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Nibley, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Nibley homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Nibley, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have 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 | $2.79 | $11,706 | $16,771 | 10.3 years |
| 8 kW | $2.73 | $15,308 | $22,661 | 10.1 years |
| 10 kW | $2.68 | $18,760 | $28,701 | 9.9 years |
| 12 kW | $2.63 | $22,062 | $34,892 | 9.7 years |
| 14 kW | $2.57 | $25,213 | $41,232 | 9.5 years |
| 16 kW | $2.52 | $28,215 | $47,723 | 9.3 years |
| 18 kW | $2.47 | $31,067 | $54,364 | 9.1 years |
| 20 kW | $2.41 | $33,768 | $61,154 | 8.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the endurance of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Nibley, UT Solar Cost FAQs
How much does it cost to install solar panels in Nibley?
The average cost of solar panels in Nibley is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff 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 Nibley?
You can't get solar panels for free in Nibley. 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 want to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Nibley, 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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.