Solar Panel Cost Guide in Santaquin, UT (2023 Update)
- Santaquin Solar Installation Cost: $9,774
- 25-Year Savings: $16,071
- Payback Period: 9.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Santaquin
Let's take a look at the average cost of solar panels in Santaquin.
The national average cost of solar panels is $2.66 per watt, but in Santaquin it's 2.68 per watt. Using this figure, a typical 5.2-kW system would cost about $9,774 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $19,000 over 20 years on electricity bills.
To get a free estimate from a vetted solar installer in Santaquin, you can click the button below.
Solar savings over time in Santaquin
| Year | Return on Investment |
|---|---|
| 1 years | $-8,740 |
| 3 years | $-6,673 |
| 5 years | $-4,605 |
| 7 years | $-2,537 |
| 9 years | $-470 |
| 11 years | $1,598 |
| 13 years | $3,665 |
| 15 years | $5,733 |
| 17 years | $7,800 |
| 19 years | $9,868 |
| 21 years | $11,936 |
| 23 years | $14,003 |
| 25 years | $16,071 |
Top Solar Installers in Santaquin
Although it's possible to install solar panels by yourself, it involves extra effort and handiness. For that reason, almost all homeowners choose a solar panel installer. The payback period of solar panels will vary depending on factors like your location and energy usage, but working with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Santaquin
Factors that Affect Solar Panel Costs in Santaquin
Even though the average cost of a solar system in Santaquin is $9,774, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Santaquin, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $2,680 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Santaquin, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Santaquin homeowners choose to finance their solar panel systems to offset upfront costs. Though solar loans make adopting solar energy more accessible for Santaquin homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can influence the cost. Santaquin's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $18,055 | 9.8 years |
| 8 kW | $2.73 | $15,308 | $24,373 | 9.6 years |
| 10 kW | $2.68 | $18,760 | $30,842 | 9.5 years |
| 12 kW | $2.63 | $22,062 | $37,460 | 9.3 years |
| 14 kW | $2.57 | $25,213 | $44,229 | 9.1 years |
| 16 kW | $2.52 | $28,215 | $51,147 | 8.9 years |
| 18 kW | $2.47 | $31,067 | $58,216 | 8.7 years |
| 20 kW | $2.41 | $33,768 | $65,435 | 8.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Santaquin, UT Solar Cost FAQs
What is the average cost of installing solar panels in Santaquin?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $992.03 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 once you've had 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.