Solar Panel Cost Guide in Richfield, UT (Sep 2022)

  • Richfield Solar Installation Cost: $9,793
  • 25-Year Savings: $15,425
  • Payback Period: 9.7 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 Richfield

Here's how much it might cost to switch to solar power in Richfield.

The average cost of solar panels in Richfield is $3 per watt. To account for the typical energy usage of the average home in Richfield, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $9,793, or $7,247 after the federal solar tax credit of 30% is applied.

These figures are just averages, and your own solar costs may look different based on your energy needs and what company you want to go with. Despite the high upfront cost, the average Richfield homeowner can save about $18,000 on their power bills over 20 years, which is one of the advantages of solar.

Click the button below to get connected to a reputable solar installer in Richfield for a personalized estimate.

Solar savings over time in Richfield

Year Return on Investment
1 years $-8,784
3 years $-6,767
5 years $-4,749
7 years $-2,732
9 years $-715
11 years $1,303
13 years $3,320
15 years $5,338
17 years $7,355
19 years $9,372
21 years $11,390
23 years $13,407
25 years $15,425

Top Solar Installers in Richfield

When going solar, many homeowners choose to go with a solar installer since DIY solar panel installation can be a time-consuming project. Companies can also provide access to quality options of the best solar panels and help you choose which one will be best for your home.

If you're looking for a solar installer in Richfield, we've put together a list of our top suggestions here:

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 Richfield

Factors that Affect Solar Panel Costs in Richfield

Though the average cost of solar panels in Richfield is $9,793, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size. Solar power systems with greater efficiency or power production require 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 brand and kind of equipment you want for your solar system can raise or lower 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for solar panels out of pocket is difficult, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your total costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

Finally, the company you get to install your solar panel system can affect how much it costs. Richfield's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Richfield know more 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 $17,262 10.1 years
8 kW $2.73 $15,308 $23,317 9.9 years
10 kW $2.68 $18,760 $29,521 9.7 years
12 kW $2.63 $22,062 $35,875 9.5 years
14 kW $2.57 $25,213 $42,380 9.3 years
16 kW $2.52 $28,215 $49,034 9.1 years
18 kW $2.47 $31,067 $55,839 8.9 years
20 kW $2.41 $33,768 $62,794 8.7 years

Solar Incentives in Richfield

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

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. Since selecting a company can be difficult, we have some tips to help you, such as:

  • Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
  • Reputation: Your solar installer should have a good reputation as a company and have verifiable 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 positive reviews from past customers.
  • Solar Panel Brands: Not all solar installers carry 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.

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 Richfield, UT Solar Cost FAQs

What is the average cost of installing solar panels in Richfield?

The average cost of solar panels in Richfield is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Richfield?

Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 savings from going solar.

How much can I save on power bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $965.62 per year.

How long do solar panels last in Richfield?

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.

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