Solar Panel Cost Guide in Park City, UT (Oct 2022)

  • Park City Solar Installation Cost: $9,680
  • 25-Year Savings: $16,496
  • Payback Period: 9.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Park City

Find out what the average cost of solar panel installation is in Park City.

In Park City, solar panels cost about $3 per watt on average. To account for the typical energy needs of the average home in Park City, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,680, or $7,163 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar system you want to get, your solar contractor and more. For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a pre-vetted solar company in Park City for a quote for your home.

Solar savings over time in Park City

Year Return on Investment
1 years $-8,633
3 years $-6,539
5 years $-4,445
7 years $-2,351
9 years $-257
11 years $1,838
13 years $3,932
15 years $6,026
17 years $8,120
19 years $10,214
21 years $12,308
23 years $14,402
25 years $16,496

Top Solar Installers in Park City

Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be a lot of work. Companies can also offer access to a large variety of the best solar panels and help you choose which one will be right for your home.

There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

See all of the solar companies in Park City

Factors that Affect Solar Panel Costs in Park City

Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Park City: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment Size

The size of the solar energy system you need to offset your energy usage is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,680. There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for solar panels out of pocket is difficult, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can affect the cost. Park City's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Park City have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 $18,718 9.6 years
8 kW $2.73 $15,308 $25,258 9.4 years
10 kW $2.68 $18,760 $31,947 9.2 years
12 kW $2.63 $22,062 $38,787 9.1 years
14 kW $2.57 $25,213 $45,777 8.9 years
16 kW $2.52 $28,215 $52,916 8.7 years
18 kW $2.47 $31,067 $60,206 8.5 years
20 kW $2.41 $33,768 $67,646 8.3 years

Solar Incentives in Park City

Name Renewable Energy Systems Tax Credit (Corporate)
Website Visit here
More Info Click here

Name Renewable Energy Systems Tax Credit (Personal)
Website Visit here
More Info Click here

Name Rocky Mountain Power - wattsmart Residential Efficiency Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the brand of solar panels and the company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Contract: When looking 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 such as a system part breaking or if the company goes out of business.
  • 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 substantial role in the company you go with.
  • Reputation: Your solar installer should have a good 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 past customers.
  • Warranty: If you care about the longevity of your solar panel system, checking your company offers a 25-year, all-inclusive warranty can give you some peace of mind.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

EcoWatch's Park City, UT Solar Cost FAQs

How much does it cost to install solar panels in Park City?

This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Park City?

Leasing solar panels can be an option if you can't 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 bang for your buck from going solar.

Do solar panels increase how much your home is worth?

Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't go 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."

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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