Solar Panel Cost Guide in Riverton, UT (2024 Update)
- Riverton Solar Installation Cost: $12,070
- 25-Year Savings: $14,294
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Riverton
We break down average solar pricing 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 3 per watt.The average Riverton homeowner needs a 5.2-kilowatt system, which would cost about $12,070 with the federal tax credit, or $17,260 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs will most likely look different based on the amount of energy your home requires and what company you go with.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized estimate.
Solar savings over time in Riverton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,074 |
| 3 years | $-9,082 |
| 5 years | $-7,090 |
| 7 years | $-5,097 |
| 9 years | $-3,105 |
| 11 years | $-1,113 |
| 13 years | $879 |
| 15 years | $2,872 |
| 17 years | $4,864 |
| 19 years | $6,856 |
| 21 years | $8,848 |
| 23 years | $10,840 |
| 25 years | $12,833 |
Top Solar Installers in Riverton
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using an installer can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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
Although the average cost of a solar system in Riverton is $12,070, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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 $3,290.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Riverton to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Riverton, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.The company’s size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $13,249 | 13.0 years |
| 8 kW | $3.36 | $18,792 | $18,033 | 12.8 years |
| 10 kW | $3.29 | $23,030 | $23,002 | 12.5 years |
| 12 kW | $3.22 | $27,083 | $28,156 | 12.3 years |
| 14 kW | $3.16 | $30,952 | $33,493 | 12.0 years |
| 16 kW | $3.09 | $34,637 | $39,015 | 11.8 years |
| 18 kW | $3.03 | $38,138 | $44,721 | 11.5 years |
| 20 kW | $2.96 | $41,454 | $50,611 | 11.3 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Solar Panel Brands: Different companies carry various brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: If you’re worried about the durability of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including 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 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 $16,450 for a 5-kW system and $32,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Riverton have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces 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?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 get between 20 and 35 panels to cover 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.