Solar Panel Cost Guide in Smithfield, UT (2024 Update)
- Smithfield Solar Installation Cost: $11,856
- 25-Year Savings: $15,239
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Smithfield
Let’s have a look at the average cost of solar in Smithfield.
In Smithfield, solar panels cost about 3 per watt on average.The average solar panel system size in Smithfield is around 5.1 kilowatts, meaning a cost of about $11,856 for a solar installation, or $16,954 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.With typical savings of about $18,000 on power bills over 20 years, many homeowners in Smithfield find going solar has a decent ROI.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Smithfield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,860 |
| 3 years | $-8,868 |
| 5 years | $-6,876 |
| 7 years | $-4,883 |
| 9 years | $-2,891 |
| 11 years | $-899 |
| 13 years | $1,093 |
| 15 years | $3,086 |
| 17 years | $5,078 |
| 19 years | $7,070 |
| 21 years | $9,062 |
| 23 years | $11,054 |
| 25 years | $13,047 |
Top Solar Installers in Smithfield
When switching to solar energy, many homeowners prefer to hire a solar installer since DIY solar panel installation can be a difficult project. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy needs, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
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 in Smithfield:
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 Smithfield
Factors that Affect Solar Panel Costs in Smithfield
There are several criteria 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 installs your solar panels.
Solar Equipment
The size of the solar panel system you need, 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 nearly $3,290. There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, 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
Many homeowners find the average cost of solar in Smithfield to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.However, the interest on solar loans also adds to your total costs, so it’s vital 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 key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Smithfield, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.The company’s size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better 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 promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.42 | $14,371 | $14,646 | 12.4 years |
| 8 kW | $3.36 | $18,792 | $19,896 | 12.1 years |
| 10 kW | $3.29 | $23,030 | $25,331 | 11.9 years |
| 12 kW | $3.22 | $27,083 | $30,950 | 11.7 years |
| 14 kW | $3.16 | $30,952 | $36,753 | 11.4 years |
| 16 kW | $3.09 | $34,637 | $42,740 | 11.2 years |
| 18 kW | $3.03 | $38,138 | $48,912 | 11.0 years |
| 20 kW | $2.96 | $41,454 | $55,268 | 10.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which model 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.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Contract: Although 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 the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Smithfield, UT Solar Cost FAQs
What is the average cost of installing solar panels in Smithfield?
The average cost of solar panels in Smithfield is about $16,450 for a 5-kW system and $32,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Smithfield?
A solar panel system isn’t free in Smithfield, but there are some options that can make getting them more viable, 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 going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires 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 house 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.