Solar Panel Cost Guide in Provo, UT (2023 Update)
- Provo Solar Installation Cost: $9,771
- 25-Year Savings: $14,346
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Provo
Let's have a look at the average cost of solar panels in Provo.
While the national average of solar panels is $2.66 per watt, solar panels in Provo typically cost around 2.68. Since a 5.2-kW system is needed to cover the energy costs of a typical home in Provo, the average price of going solar will be about $9,774 after claiming the federal solar tax credit of 30%.
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 equipment you want, your solar contractor and more. For many homeowners, the upfront investment in solar power is worth paying. On average Provo homeowners see about $18,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Provo
| Year | Return on Investment |
|---|---|
| 1 years | $-8,757 |
| 3 years | $-6,727 |
| 5 years | $-4,698 |
| 7 years | $-2,668 |
| 9 years | $-639 |
| 11 years | $1,391 |
| 13 years | $3,420 |
| 15 years | $5,450 |
| 17 years | $7,479 |
| 19 years | $9,509 |
| 21 years | $11,538 |
| 23 years | $13,568 |
| 25 years | $15,597 |
Top Solar Installers in Provo
Many homeowners opt for a solar panel installer since installing solar panels yourself can be challenging. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
If you're on the hunt for a solar installer in Provo, we've organized 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 Provo
Factors that Affect Solar Panel Costs in Provo
For many Provo homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Provo, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Provo. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Provo, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. Even though solar loans make switching to solar energy more accessible for Provo homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Provo is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that provide a range of services at different price points. Additionally, some companies in Provo have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $16,076 | 10.5 years |
| 8 kW | $2.73 | $15,308 | $21,734 | 10.3 years |
| 10 kW | $2.68 | $18,760 | $27,543 | 10.1 years |
| 12 kW | $2.63 | $22,062 | $33,502 | 9.9 years |
| 14 kW | $2.57 | $25,213 | $39,611 | 9.7 years |
| 16 kW | $2.52 | $28,215 | $45,870 | 9.5 years |
| 18 kW | $2.47 | $31,067 | $52,279 | 9.3 years |
| 20 kW | $2.41 | $33,768 | $58,838 | 9.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: The kind of solar panel you need to install plays a role in which installer you should go with, since different companies offer different panels.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done 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 Provo, UT Solar Cost FAQs
How much does it cost to install solar panels in Provo?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Provo?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Provo, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.