Solar Panel Cost Guide in Vineyard, UT (Mar 2023)
- Vineyard Solar Installation Cost: $9,774
- 25-Year Savings: $15,789
- Payback Period: 9.6 Years
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Updated March 14, 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 national average cost of solar panels is $2.66 per watt, but in Vineyard it's 2.68 per watt. To cover the typical energy needs of the average home in Vineyard, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $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 installing solar panels can vary depending on several factors, such as what size system you need, your energy consumption 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 $19,000 over 20 years on utility bills.
To receive a free quote from a top solar company in Vineyard, you can click the button below.
Solar savings over time in Vineyard
| Year | Return on Investment |
|---|---|
| 1 years | $-8,751 |
| 3 years | $-6,706 |
| 5 years | $-4,661 |
| 7 years | $-2,616 |
| 9 years | $-571 |
| 11 years | $1,474 |
| 13 years | $3,519 |
| 15 years | $5,564 |
| 17 years | $7,609 |
| 19 years | $9,654 |
| 21 years | $11,699 |
| 23 years | $13,744 |
| 25 years | $15,789 |
Top Solar Installers in Vineyard
Although it's possible to install solar panels by yourself, it requires extra labor and handiness. That's one of the reasons most people choose a solar panel installer. The expertise that solar companies offer can be valuable as well, especially if you don't quite know what kind of solar equipment would be right for your home.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Vineyard
Factors that Affect Solar Panel Costs in Vineyard
For many Vineyard homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Vineyard, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Vineyard, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Vineyard homeowners choose to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Vineyard, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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
There are many companies to choose from in Vineyard, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Installation Process: An important thing to understand when going solar 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.
- Contract: Look through the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 things like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Vineyard?
You can't get solar panels for free in Vineyard. However, you may still be able to get 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.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Vineyard is currently $283,333, so you can look forward to a value of about $11,617 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Vineyard is a fruitful investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.