Solar Panel Cost Guide in Payson, UT (Jan 2023)
- Payson Solar Installation Cost: $9,774
- 25-Year Savings: $14,863
- Payback Period: 9.9 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Payson
Find out what the average cost of solar panels are in Payson.
Although the national average of solar panels is $2.66 per watt, solar panels in Payson typically cost about $3. Using this figure, a typical 5.2 would cost about $9,774 before the 30% federal solar tax credit 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 consumption, the type of solar panels you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on utility bills.
To get a free quote from a highly rated solar installer in Payson, you can click the button below.
Solar savings over time in Payson
| Year | Return on Investment |
|---|---|
| 1 years | $-8,788 |
| 3 years | $-6,818 |
| 5 years | $-4,847 |
| 7 years | $-2,876 |
| 9 years | $-905 |
| 11 years | $1,066 |
| 13 years | $3,037 |
| 15 years | $5,008 |
| 17 years | $6,979 |
| 19 years | $8,950 |
| 21 years | $10,921 |
| 23 years | $12,892 |
| 25 years | $14,863 |
Top Solar Installers in Payson
When making the switch to solar, many homeowners prefer to hire a solar installation company since installing solar panels yourself can be a challenging project. Local solar companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
If you'd like to start using solar energy but still aren't sure which solar system installer to go with, here are our suggestions for providers in Payson:
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 Payson
Factors that Affect Solar Panel Costs in Payson
For many Payson homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Payson, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use 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. The kind of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in Payson, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $16,674 | 10.3 years |
| 8 kW | $2.73 | $15,308 | $22,532 | 10.1 years |
| 10 kW | $2.68 | $18,760 | $28,540 | 9.9 years |
| 12 kW | $2.63 | $22,062 | $34,698 | 9.7 years |
| 14 kW | $2.57 | $25,213 | $41,006 | 9.5 years |
| 16 kW | $2.52 | $28,215 | $47,465 | 9.3 years |
| 18 kW | $2.47 | $31,067 | $54,073 | 9.1 years |
| 20 kW | $2.41 | $33,768 | $60,832 | 8.9 years |
How to Save on Solar Panels
There are many companies to choose from in Payson, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which installer you should opt for, since different companies have access to different panels.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Payson, UT Solar Cost FAQs
What is the average cost of installing solar panels in Payson?
The average cost of solar panels in Payson 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Payson?
You can't get solar panels for free in Payson. However, you may still be able to afford 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.
Do solar panels increase your property value?
Solar panels can increase your home value 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% after installing solar panels."
How long do solar panels last in Payson?
On average, solar panels can last 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 higher level 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.