Solar Panel Cost Guide in Vineyard, UT (2023 Update)
- Vineyard Solar Installation Cost: $9,771
- 25-Year Savings: $15,791
- Payback Period: 9.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Vineyard
Let's take a look at the average cost of solar in Vineyard.
The average cost of solar panels in Vineyard is 2.68 per watt. Since a 5.2-kW system is needed to cover the energy needs of a typical home in Vineyard, the average price of going solar will be about $9,774 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what solar installer you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Vineyard homeowners see about $19,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in Vineyard for a customized estimate.
Solar savings over time in Vineyard
| Year | Return on Investment |
|---|---|
| 1 years | $-9,686 |
| 3 years | $-9,516 |
| 5 years | $-9,345 |
| 7 years | $-9,175 |
| 9 years | $-9,005 |
| 11 years | $-8,834 |
| 13 years | $-8,664 |
| 15 years | $-8,493 |
| 17 years | $-8,323 |
| 19 years | $-8,152 |
| 21 years | $-7,982 |
| 23 years | $-7,812 |
| 25 years | $-7,641 |
Top Solar Installers in Vineyard
Installing solar panels on your own can be a stressful project, which is why using a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you choose which one will be best for your home.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Vineyard:
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 Vineyard
Factors that Affect Solar Panel Costs in Vineyard
There are a number of factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar system in Vineyard, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,680 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Vineyard average.
Solar Financing Terms
Many homeowners find the average cost of solar in Vineyard to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Vineyard have more knowledge about local solar incentives and can help you learn about 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 | $17,740 | 9.9 years |
| 8 kW | $2.73 | $15,308 | $23,953 | 9.7 years |
| 10 kW | $2.68 | $18,760 | $30,317 | 9.6 years |
| 12 kW | $2.63 | $22,062 | $36,830 | 9.4 years |
| 14 kW | $2.57 | $25,213 | $43,494 | 9.2 years |
| 16 kW | $2.52 | $28,215 | $50,308 | 9.0 years |
| 18 kW | $2.47 | $31,067 | $57,271 | 8.8 years |
| 20 kW | $2.41 | $33,768 | $64,385 | 8.6 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although 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 make sure you take a look at their list of offerings before making your decision.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Vineyard, UT Solar Cost FAQs
What is the average cost of installing solar panels in Vineyard?
The average cost of solar panels in Vineyard is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Vineyard?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.