Solar Panel Cost Guide in Summit Park, UT (2023 Update)
- Summit Park Solar Installation Cost: $9,747
- 25-Year Savings: $16,430
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Summit Park
Let's have a look at the average cost of solar in Summit Park.
In Summit Park, solar panels cost about 2.68 per watt on average. To account for the typical energy needs of the average home in Summit Park, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,755, or $13,950 before the federal solar tax credit of 30% is applied.
The true price you pay can be above or below the average in Summit Park depending on a few factors, such as the brand of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar power is worth paying. On average Summit Park homeowners see about $19,000 in savings on utility bills over 20 years.
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Solar savings over time in Summit Park
| Year | Return on Investment |
|---|---|
| 1 years | $-8,751 |
| 3 years | $-6,758 |
| 5 years | $-4,766 |
| 7 years | $-2,774 |
| 9 years | $-782 |
| 11 years | $1,211 |
| 13 years | $3,203 |
| 15 years | $5,195 |
| 17 years | $7,187 |
| 19 years | $9,180 |
| 21 years | $11,172 |
| 23 years | $13,164 |
| 25 years | $15,156 |
Top Solar Installers in Summit Park
Although it's possible to install solar panels yourself, it involves extra labor and knowledge. That's why almost all homeowners choose to hire a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and component replacements.
If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers near you:
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 Summit Park
Factors that Affect Solar Panel Costs in Summit Park
There are several factors that can determine your solar system 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 cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Summit Park provide solar loans, which reduce the initial cost of installing solar panels. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Summit Park is the company you hire to install your PV system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services at different price points. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also fits within your budget.
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
There are numerous companies to choose from in Summit Park, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Summit Park, UT Solar Cost FAQs
How much does it cost to install solar panels in Summit Park?
This is a difficult 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Summit Park?
You can't get solar panels for free in Summit Park. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Does Summit Park have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.