Solar Panel Cost Guide in Springville, UT (2023 Update)
- Springville Solar Installation Cost: $9,771
- 25-Year Savings: $14,157
- Payback Period: 10.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Springville
Let's take a look at the average cost of solar in Springville.
The national average cost of solar panels is $2.66 per watt, but in Springville it's 2.68 per watt. To cover the typical energy needs of the average home in Springville, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $9,774, or $13,977 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
To receive a free estimate from a highly rated solar installation company in Springville, you can click the button below.
Solar savings over time in Springville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,775 |
| 3 years | $-6,783 |
| 5 years | $-4,791 |
| 7 years | $-2,799 |
| 9 years | $-806 |
| 11 years | $1,186 |
| 13 years | $3,178 |
| 15 years | $5,170 |
| 17 years | $7,163 |
| 19 years | $9,155 |
| 21 years | $11,147 |
| 23 years | $13,139 |
| 25 years | $15,131 |
Top Solar Installers in Springville
When going solar, many homeowners choose to use a solar installer since installing solar panels yourself can be a challenging project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 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 a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Springville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,680 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you only 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 companies in Springville have solar loans, which reduce your upfront costs of installing solar panels. Although solar loans make adopting solar energy more accessible for Springville homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Springville, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Springville have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 a lot of companies to choose from in Springville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. 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: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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.