Solar Panel Cost Guide in Springville, UT (Mar 2023)
- Springville Solar Installation Cost: $9,774
- 25-Year Savings: $14,155
- Payback Period: 10.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Springville
Find out what the average cost of installing solar panels is in Springville.
The average cost of a solar panel system in Springville is 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 how much solar panels could cost. The true cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what installation company you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $17,000 over 20 years on utility bills.
To receive a free estimate from a pre-vetted solar company in Springville, you can click the button below.
Solar savings over time in Springville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,817 |
| 3 years | $-6,902 |
| 5 years | $-4,988 |
| 7 years | $-3,074 |
| 9 years | $-1,160 |
| 11 years | $755 |
| 13 years | $2,669 |
| 15 years | $4,583 |
| 17 years | $6,498 |
| 19 years | $8,412 |
| 21 years | $10,326 |
| 23 years | $12,241 |
| 25 years | $14,155 |
Top Solar Installers in Springville
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar company can make swapping over to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
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 nearby:
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 Springville
Factors that Affect Solar Panel Costs in Springville
For many Springville homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Springville, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Springville. The type of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Springville, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact your pricing. Springville's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $2.79 | $11,706 | $15,858 | 10.6 years |
| 8 kW | $2.73 | $15,308 | $21,444 | 10.4 years |
| 10 kW | $2.68 | $18,760 | $27,180 | 10.2 years |
| 12 kW | $2.63 | $22,062 | $33,067 | 10.0 years |
| 14 kW | $2.57 | $25,213 | $39,103 | 9.8 years |
| 16 kW | $2.52 | $28,215 | $45,290 | 9.6 years |
| 18 kW | $2.47 | $31,067 | $51,626 | 9.4 years |
| 20 kW | $2.41 | $33,768 | $58,113 | 9.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Warranty: If you care about the endurance of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When looking through your solar company'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 part breaking or if the company goes out of business.
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Springville, UT Solar Cost FAQs
What is the average cost of installing solar panels in Springville?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Springville?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $918.81 per year.
What solar power system size is right for 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.