Solar Panel Cost Guide in Riverton, UT (2023 Update)
- Riverton Solar Installation Cost: $9,830
- 25-Year Savings: $14,296
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Riverton
Let's have a look at the average cost of solar in Riverton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Riverton, the typical cost of a solar system is 2.68 per watt. Since a 5.2-kW system is needed to cover the energy costs of a typical home in Riverton, the average price of going solar will be about $9,830 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of equipment you want, your solar contractor and more. For most homeowners, the upfront cost of solar panels is worth paying. On average Riverton homeowners see about $17,000 in savings on electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Riverton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,865 |
| 3 years | $-6,935 |
| 5 years | $-5,005 |
| 7 years | $-3,075 |
| 9 years | $-1,145 |
| 11 years | $785 |
| 13 years | $2,715 |
| 15 years | $4,646 |
| 17 years | $6,576 |
| 19 years | $8,506 |
| 21 years | $10,436 |
| 23 years | $12,366 |
| 25 years | $14,296 |
Top Solar Installers in Riverton
Although you can install solar panels yourself, it involves extra labor and knowledge. Because of that, the majority of homeowners choose to go with a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Riverton
Factors that Affect Solar Panel Costs in Riverton
Though the average cost of a solar system in Riverton is $9,830, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher 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. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Riverton, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Riverton provide solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your all-in costs, so it's important to take that into consideration 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
Lastly, the company you hire to install your solar system can play a role in determining the cost. Riverton's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Riverton 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 | $15,913 | 10.6 years |
| 8 kW | $2.73 | $15,308 | $21,518 | 10.4 years |
| 10 kW | $2.68 | $18,760 | $27,272 | 10.2 years |
| 12 kW | $2.63 | $22,062 | $33,177 | 10.0 years |
| 14 kW | $2.57 | $25,213 | $39,232 | 9.8 years |
| 16 kW | $2.52 | $28,215 | $45,437 | 9.6 years |
| 18 kW | $2.47 | $31,067 | $51,792 | 9.4 years |
| 20 kW | $2.41 | $33,768 | $58,297 | 9.2 years |
How to Save on Solar Panels
There are a lot of companies available in Riverton, 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:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Solar Panel Brands: The type of solar panel you'd like plays a role in which installer you should opt for, since different companies have access to different panels.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure 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 Riverton, UT Solar Cost FAQs
How much does it cost to install solar panels in Riverton?
The average cost of solar panels in Riverton 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 model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Riverton?
You can't get solar panels for free in Riverton. However, you may still be able to get 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.
How will solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Riverton is currently $371,554, which means you could be looking at a value of about $15,234 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Riverton is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.