Solar Panel Cost Guide in Silver Summit, UT (Mar 2023)
- Silver Summit Solar Installation Cost: $9,755
- 25-Year Savings: $16,421
- Payback Period: 9.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Silver Summit
Find out what the average cost of a solar system is in Silver Summit.
The national average cost of solar panels is $2.66 per watt, but in Silver Summit it's 2.68 per watt. The average solar panel system size in Silver Summit is around 5.2 kilowatts, meaning a cost of about $9,755 for a solar installation, or $13,950 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Silver Summit homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Silver Summit
| Year | Return on Investment |
|---|---|
| 1 years | $-8,708 |
| 3 years | $-6,614 |
| 5 years | $-4,520 |
| 7 years | $-2,426 |
| 9 years | $-332 |
| 11 years | $1,762 |
| 13 years | $3,857 |
| 15 years | $5,951 |
| 17 years | $8,045 |
| 19 years | $10,139 |
| 21 years | $12,233 |
| 23 years | $14,327 |
| 25 years | $16,421 |
Top Solar Installers in Silver Summit
Installing solar panels yourself can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for you.
There are several licensed solar professionals that can take care of your solar installation project. 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 Silver Summit
Factors that Affect Solar Panel Costs in Silver Summit
There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Silver Summit offer solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of loans, 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you get to install your solar system can influence the cost. Silver Summit's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $18,524 | 9.7 years |
| 8 kW | $2.73 | $15,308 | $24,999 | 9.5 years |
| 10 kW | $2.68 | $18,760 | $31,623 | 9.3 years |
| 12 kW | $2.63 | $22,062 | $38,398 | 9.1 years |
| 14 kW | $2.57 | $25,213 | $45,323 | 8.9 years |
| 16 kW | $2.52 | $28,215 | $52,398 | 8.8 years |
| 18 kW | $2.47 | $31,067 | $59,624 | 8.6 years |
| 20 kW | $2.41 | $33,768 | $66,999 | 8.4 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. 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 offerings before making your decision.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Silver Summit, UT Solar Cost FAQs
What is the average cost of installing solar panels in Silver Summit?
This is a tough question to answer precisely, 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Silver Summit?
A solar panel system isn't free in Silver Summit, 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 can further reduce the cost.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.