Solar Panel Cost Guide in North Salt Lake, UT (2023 Update)
- North Salt Lake Solar Installation Cost: $9,873
- 25-Year Savings: $14,792
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North Salt Lake
Let's take a look at the average cost of solar panels in North Salt Lake.
In North Salt Lake, solar panels cost about 2.68 per watt on average. To account for the typical energy needs of the average home in North Salt Lake, most homeowners require a 5.3-kilowatt system. Using the figure above, a solar installation costs around $9,868, or $14,111 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average North Salt Lake homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on power bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in North Salt Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-8,877 |
| 3 years | $-6,885 |
| 5 years | $-4,892 |
| 7 years | $-2,900 |
| 9 years | $-908 |
| 11 years | $1,084 |
| 13 years | $3,077 |
| 15 years | $5,069 |
| 17 years | $7,061 |
| 19 years | $9,053 |
| 21 years | $11,046 |
| 23 years | $13,038 |
| 25 years | $15,030 |
Top Solar Installers in North Salt Lake
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be time-consuming. The expertise that solar installers offer can be helpful as well, especially if you aren't sure what type of solar equipment would be right for your home.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 North Salt Lake
Factors that Affect Solar Panel Costs in North Salt Lake
Even though the average cost of a solar system in North Salt Lake is $9,868, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in North Salt Lake, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,680 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in North Salt Lake have solar loans, which reduce your upfront costs of installing a solar system. Although solar loans make switching to solar energy more accessible for North Salt Lake 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 solar panel installation company you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $16,413 | 10.4 years |
| 8 kW | $2.73 | $15,308 | $22,184 | 10.2 years |
| 10 kW | $2.68 | $18,760 | $28,106 | 10.0 years |
| 12 kW | $2.63 | $22,062 | $34,177 | 9.8 years |
| 14 kW | $2.57 | $25,213 | $40,399 | 9.6 years |
| 16 kW | $2.52 | $28,215 | $46,770 | 9.4 years |
| 18 kW | $2.47 | $31,067 | $53,292 | 9.2 years |
| 20 kW | $2.41 | $33,768 | $59,964 | 9.0 years |
How to Save on Solar Panels
There are many companies to choose from in North Salt Lake, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Warranty: If you're worried about the durability of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's North Salt Lake, UT Solar Cost FAQs
What is the average cost of installing solar panels in North Salt Lake?
The average cost of solar panels in North Salt Lake 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.