Solar Panel Cost Guide in Roy, UT (2023 Update)
- Roy Solar Installation Cost: $9,736
- 25-Year Savings: $16,440
- Payback Period: 9.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Roy
Let's have a look at the average cost of solar panels in Roy.
The national average cost of solar panels is $2.66 per watt, but in Roy it's 2.68 per watt. Using this figure, a typical 5.2-kW system would cost about $9,736 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Roy depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find installing solar panels is a solid investment. The average homeowner in Roy can save around $19,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a custom estimate.
Solar savings over time in Roy
| Year | Return on Investment |
|---|---|
| 1 years | $-8,689 |
| 3 years | $-6,595 |
| 5 years | $-4,501 |
| 7 years | $-2,407 |
| 9 years | $-313 |
| 11 years | $1,781 |
| 13 years | $3,875 |
| 15 years | $5,969 |
| 17 years | $8,064 |
| 19 years | $10,158 |
| 21 years | $12,252 |
| 23 years | $14,346 |
| 25 years | $16,440 |
Top Solar Installers in Roy
Putting up solar panels yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
If you're searching for a solar installer in Roy, 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 Roy
Factors that Affect Solar Panel Costs in Roy
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Roy: 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 significant 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 spend about $2,680 per kilowatt in Roy. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 a small roof 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 raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Roy homeowners opt to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also adds to your total costs, so it's crucial to consider that 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
A final consideration when trying to estimate the cost of solar for your home or business in Roy is the company you get to install your PV system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services at different price points. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $18,583 | 9.7 years |
| 8 kW | $2.73 | $15,308 | $25,078 | 9.5 years |
| 10 kW | $2.68 | $18,760 | $31,722 | 9.3 years |
| 12 kW | $2.63 | $22,062 | $38,517 | 9.1 years |
| 14 kW | $2.57 | $25,213 | $45,461 | 8.9 years |
| 16 kW | $2.52 | $28,215 | $52,556 | 8.7 years |
| 18 kW | $2.47 | $31,067 | $59,801 | 8.5 years |
| 20 kW | $2.41 | $33,768 | $67,196 | 8.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Roy, UT Solar Cost FAQs
What is the average cost of installing solar panels in Roy?
This is a difficult question to answer exactly, because the cost depends on many 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Roy?
Solar panels aren't free in Roy, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for 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 generally 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.