Solar Panel Cost Guide in Summit Park, UT (2024 Update)
- Summit Park Solar Installation Cost: $11,965
- 25-Year Savings: $16,430
- Payback Period: 11.4 Years
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Average Cost of Solar Panels in Summit Park
Find out what the average cost of solar panel installation is in Summit Park.
In Summit Park, solar panels cost about 3 per watt on average.Since a 5.2-kW system is needed to cover the energy costs of a typical home in Summit Park, the average price of going solar will be about $11,965 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Summit Park see about $19,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar company in Summit Park for a quote for your home.
Solar savings over time in Summit Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,969 |
| 3 years | $-8,977 |
| 5 years | $-6,984 |
| 7 years | $-4,992 |
| 9 years | $-3,000 |
| 11 years | $-1,008 |
| 13 years | $984 |
| 15 years | $2,977 |
| 17 years | $4,969 |
| 19 years | $6,961 |
| 21 years | $8,953 |
| 23 years | $10,946 |
| 25 years | $12,938 |
Top Solar Installers in Summit Park
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make swapping over to solar power much easier. Some solar companies, especially local ones, can help you make the most of incentives in Summit Park, thereby optimizing your ROI.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Summit Park
Factors that Affect Solar Panel Costs in Summit Park
For many Summit Park homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Summit Park, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 $3,290 per kilowatt in Summit Park.There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency 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 far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, 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 remarkably.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Summit Park, and each can charge varying amounts for labor and equipment.Additionally, some companies in Summit Park have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.42 | $14,371 | $15,859 | 11.9 years |
| 8 kW | $3.36 | $18,792 | $21,514 | 11.7 years |
| 10 kW | $3.29 | $23,030 | $27,353 | 11.4 years |
| 12 kW | $3.22 | $27,083 | $33,377 | 11.2 years |
| 14 kW | $3.16 | $30,952 | $39,584 | 11.0 years |
| 16 kW | $3.09 | $34,637 | $45,976 | 10.7 years |
| 18 kW | $3.03 | $38,138 | $52,552 | 10.5 years |
| 20 kW | $2.96 | $41,454 | $59,313 | 10.3 years |
How to Save on Solar Panels
There are a lot of companies available in Summit Park, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Summit Park, UT Solar Cost FAQs
How much does it cost to install solar panels in Summit Park?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $16,450 for a 5-kW system and $32,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Summit Park have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Summit Park?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.