Solar Panel Cost Guide in Richfield, UT (2024 Update)
- Richfield Solar Installation Cost: $12,029
- 25-Year Savings: $15,419
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Richfield
We go over average solar pricing in Richfield.
Although the national average of solar panels is $2.66 per watt, solar panels in Richfield typically cost around 3.Since a 5.2-kW system is needed to cover the energy costs of a typical home in Richfield, the average price of going solar will be about $12,029 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.Even with the significant initial cost, the average Richfield homeowner can save about $18,000 on their power bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Richfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,032 |
| 3 years | $-9,040 |
| 5 years | $-7,048 |
| 7 years | $-5,056 |
| 9 years | $-3,064 |
| 11 years | $-1,071 |
| 13 years | $921 |
| 15 years | $2,913 |
| 17 years | $4,905 |
| 19 years | $6,898 |
| 21 years | $8,890 |
| 23 years | $10,882 |
| 25 years | $12,874 |
Top Solar Installers in Richfield
Although you can install solar panels on your own, it takes extra effort and expertise. That's why most people choose to go with a solar panel installer. Another benefit of going with a solar company is that they can help you optimize your return of investment by bringing down your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Richfield
Factors that Affect Solar Panel Costs in Richfield
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Richfield: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly 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 $3,290 per kilowatt in Richfield.There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking 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
Many homeowners find the average cost of solar in Richfield to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.Even though solar loans make switching to solar energy more accessible for Richfield homeowners, they can also add to the total you pay for your system due to interest. 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
The remaining major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Richfield, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $3.42 | $14,371 | $14,598 | 12.4 years |
| 8 kW | $3.36 | $18,792 | $19,832 | 12.2 years |
| 10 kW | $3.29 | $23,030 | $25,251 | 11.9 years |
| 12 kW | $3.22 | $27,083 | $30,854 | 11.7 years |
| 14 kW | $3.16 | $30,952 | $36,641 | 11.4 years |
| 16 kW | $3.09 | $34,637 | $42,612 | 11.2 years |
| 18 kW | $3.03 | $38,138 | $48,768 | 11.0 years |
| 20 kW | $2.96 | $41,454 | $55,108 | 10.7 years |
How to Save on Solar Panels
There are a lot of companies available in Richfield, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- 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
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Richfield, UT Solar Cost FAQs
How much does it cost to install solar panels in Richfield?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $16,450 for a 5-kW system and $32,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Richfield?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside 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 option if you want to maximize your savings.
Can you sell solar power back to the grid in Richfield?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.