Solar Panel Cost Guide in Nibley, UT (2023 Update)
- Nibley Solar Installation Cost: $9,658
- 25-Year Savings: $14,776
- Payback Period: 9.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Nibley
Find out what the average cost of installing solar panels is in Nibley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Nibley, the average cost of a solar system is 2.68 per watt. Since a 5.2-kW system is needed to cover the energy needs of a typical home in Nibley, the average price of going solar will be about $9,661 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Nibley homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Nibley that can help you get a more accurate cost estimate for your home.
Solar savings over time in Nibley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,662 |
| 3 years | $-6,670 |
| 5 years | $-4,677 |
| 7 years | $-2,685 |
| 9 years | $-693 |
| 11 years | $1,299 |
| 13 years | $3,292 |
| 15 years | $5,284 |
| 17 years | $7,276 |
| 19 years | $9,268 |
| 21 years | $11,261 |
| 23 years | $13,253 |
| 25 years | $15,245 |
Top Solar Installers in Nibley
Installing solar panels on your own can be a challenging task, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be helpful as well, particularly if you aren't sure what kind of solar equipment you need.
If you're searching for a solar company in Nibley, we've compiled a list of our top suggestions here:
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 Nibley
Factors that Affect Solar Panel Costs in Nibley
There are many factors that can determine your solar panel 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
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you want to install 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 out of reach, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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
Since the kind of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Nibley, UT Solar Cost FAQs
What is the average cost of installing 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Nibley?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power 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 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 account for 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.