Solar Panel Cost Guide in Salem, UT (Mar 2023)
- Salem Solar Installation Cost: $9,774
- 25-Year Savings: $14,863
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Salem
Find out what the average cost of solar panel installation is in Salem.
While the national average of solar panels is $2.66 per watt, solar panels in Salem typically cost around 2.68. To account for the typical energy usage of the average home in Salem, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $9,774, or $13,977 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs may vary based on your energy needs and what company you go with. With typical savings of about $18,000 on energy bills over 20 years, many homeowners in Salem find investing in solar can be quite rewarding.
To receive a free estimate from a pre-vetted solar installation company in Salem, you can click the button below.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-8,788 |
| 3 years | $-6,818 |
| 5 years | $-4,847 |
| 7 years | $-2,876 |
| 9 years | $-905 |
| 11 years | $1,066 |
| 13 years | $3,037 |
| 15 years | $5,008 |
| 17 years | $6,979 |
| 19 years | $8,950 |
| 21 years | $10,921 |
| 23 years | $12,892 |
| 25 years | $14,863 |
Top Solar Installers in Salem
When switching to solar energy, many homeowners decide to go with a solar installer since putting up solar panels yourself can be a difficult project. The expertise that solar companies provide can be valuable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
See all of the solar companies in Salem
Factors that Affect Solar Panel Costs in Salem
Even though the average cost of a solar system in Salem is $9,774, your actual cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,680. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Salem average.
Solar Financing Terms
Most solar companies in Salem have solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you select will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $16,674 | 10.3 years |
| 8 kW | $2.73 | $15,308 | $22,532 | 10.1 years |
| 10 kW | $2.68 | $18,760 | $28,540 | 9.9 years |
| 12 kW | $2.63 | $22,062 | $34,698 | 9.7 years |
| 14 kW | $2.57 | $25,213 | $41,006 | 9.5 years |
| 16 kW | $2.52 | $28,215 | $47,465 | 9.3 years |
| 18 kW | $2.47 | $31,067 | $54,073 | 9.1 years |
| 20 kW | $2.41 | $33,768 | $60,832 | 8.9 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Salem, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
- 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.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Salem, UT Solar Cost FAQs
What is the average cost of installing solar panels in Salem?
The average cost of solar panels in Salem 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will having solar panels impact my property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Salem?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.