Solar Panel Cost Guide in Salt Lake City, UT (2023 Update)
- Salt Lake City Solar Installation Cost: $9,830
- 25-Year Savings: $16,346
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Salt Lake City
We go over average solar pricing in Salt Lake City.
The average cost of a solar panel system in Salt Lake City is 2.68 per watt. The average Salt Lake City homeowner needs a 5.2-kilowatt system, which would cost about $9,830 with the federal tax credit, or $14,057 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy usage and what company you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Salt Lake City see about $19,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in Salt Lake City for a customized quote.
Solar savings over time in Salt Lake City
| Year | Return on Investment |
|---|---|
| 1 years | $-8,783 |
| 3 years | $-6,689 |
| 5 years | $-4,595 |
| 7 years | $-2,501 |
| 9 years | $-407 |
| 11 years | $1,687 |
| 13 years | $3,782 |
| 15 years | $5,876 |
| 17 years | $7,970 |
| 19 years | $10,064 |
| 21 years | $12,158 |
| 23 years | $14,252 |
| 25 years | $16,346 |
Top Solar Installers in Salt Lake City
Although it's possible to install solar panels by yourself, it requires extra effort and handiness. Because of that, almost all homeowners choose a solar panel installer. The expertise that solar companies offer can be invaluable as well, especially if you aren't sure what brand of solar equipment you need.
You can get a free quote from a local solar installer on how much your investment in solar 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 Salt Lake City
Factors that Affect Solar Panel Costs in Salt Lake City
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Salt Lake City: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Salt Lake City, you'll have many options to choose from, but each comes at various price points for labor and equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount 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 | $2.79 | $11,706 | $18,260 | 9.8 years |
| 8 kW | $2.73 | $15,308 | $24,647 | 9.6 years |
| 10 kW | $2.68 | $18,760 | $31,184 | 9.4 years |
| 12 kW | $2.63 | $22,062 | $37,872 | 9.2 years |
| 14 kW | $2.57 | $25,213 | $44,709 | 9.0 years |
| 16 kW | $2.52 | $28,215 | $51,696 | 8.8 years |
| 18 kW | $2.47 | $31,067 | $58,833 | 8.6 years |
| 20 kW | $2.41 | $33,768 | $66,121 | 8.5 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Salt Lake City, UT Solar Cost FAQs
How much does it cost to install solar panels in Salt Lake City?
The average cost of solar panels in Salt Lake City 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 type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Salt Lake City, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Salt Lake City?
On average, the lifespan of solar panels is 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 larger amount 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.