How Much Do Utah Solar Panels Cost in 2022?

Utah Solar Costs
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How Much Do Solar Panels Cost in Utah in 2022?

The price of installing fluctuates year by year and also will vary based on where you live. Keeping an eye on the prices of solar on a year-by-year basis is a good way to determine whether it’s right for you to go solar in Utah. While some want solar solely for environmental reasons, this isn’t the case for everyone. The savings associated with residential solar have made it popular. However, solar also comes with a high initial price tag, which means you have to be prepared to pay in cash or look into financing options. The price and savings of a Utah solar array depend on the solar array size.

How Are the Solar Installation Prices Calculated in Utah?

Solar installation prices will combine several factors into one single purchase. The factors include soft costs such as labor and paperwork alongside the cost of the actual products being installed. To help homeowners understand the total cost of their solar installation, these prices are bundled together as “cost per watt.” 

The Average Utah System Size

On average, Utah homeowners use 769 kWh per month. This average comes to 9,228 kWh a year. Slightly less than a 6 kW system would deliver with an average of five peak sun hours a day. While Utah’s average tilt at latitude produces 5.51 kWh/m2/day with a peak sun hour range between 6 and 7 across the state, the correct system size for your home varies because you may not use the average amount of electricity.

Panel Price by System Size

Depending on the array size, a Utah system can range anywhere from $8,460 for a 3 kW system to $28,200 for a 10kW array before the solar Investment Tax Credit (ITC). Most homes need an array somewhere in the middle, but you should still make sure.

Average Solar Panel Cost by System Size in Utah

Determining Energy Usage for Your Utah Home

To determine how much energy your Utah home will need, you need to find the monthly usage over a year. The combination of monthly and annual usage will give the solar installer an idea of how much solar power you need to meet your annual energy use. Weather, home size, and AC preferences all play a part in the electricity used each month.

What Is Cost Per Watt?

Cost per watt is exactly what it implies — it’s the cost of your solar per watt of power that you install. Because solar installations differ in size and product, it can be difficult to price out exactly how much a system will cost. Cost per watt provides a building block for pricing solar installations. Much like building a castle out of blocks, one can add or subtract watts to the total as necessary, all the while utilizing an easy pricing tool.

Why Cost Per Watt Matters for Utah Solar

When pricing a solar array in Utah, you’re going to look at the cost per watt. Most solar companies are not going to sell you a standard number of solar panels. Instead, they will look at your annual energy consumption to determine what the size of your solar array should be. 

Once the solar company knows your energy consumption, they can give you an estimated cost of installing solar. The estimate will be based on how many watts of solar need to be installed to cover your home’s energy usage. 

What Are the Main Factors in Solar Installation Prices in Utah?

Now that we’ve covered how solar installations are priced, what are the prices themselves? Let’s take a look at Utah solar prices to get a better idea. There are a couple of different price and savings terms in solar. Some of these terms include out-of-pocket cost, net 20-year savings payback period, and electricity bill offset. Understanding these terms and what they are in Utah gives a fuller picture of solar in Utah.

Out-of-Pocket Cost

Out-of-pocket cost is the price that customers pay before incentives like the ITC. In Utah, the out-of-pocket cost for a 5kW system ranges between $13,515 and $18,285.

Net 20-Year Savings

Net 20-year savings is the savings homeowners experience 20 years after they purchased solar minus the cost of the system. These savings range from $23,186 – $31,369 in Utah.

Pay-back Period

The payback period is the time it takes for the savings from solar to match the amount it costs to purchase it. The Utah payback period ranges between 8 – 10.9 years.

Electricity Bill Offset

Electricity bill offset is the percentage of your electricity use that your solar array produces. Depending on where you live in Utah, the amount of unshaded space you have, and your budget, the offset in Utah ranges between 81 – 110 percent.

Cost Per Watt of Solar in Utah

In Utah, the cost per watt of solar has dropped from a couple of years ago. As of February of 2022, the cost per watt of solar ranged from $2.39 to $2.92. That is a fairly low price compared to the national average. Part of the low price comes from the dropping price of solar materials in general. Another part comes from the incentives available to Utah homeowners. 

Average Price of a Full Utah Solar Installation

A solar array in Utah will cost $10,617 to $12, 977 on average. In comparison, the national average for a solar array is $20,498. A Utah solar installation can go for as low as half of the price of an installation elsewhere in the country. 

What to Consider Before Purchasing Solar For Your Utah Home

Before you decide to purchase solar for your Utah home, you need to determine if you qualify for solar and whether the timing is right. These will help you decide if your Utah home should have residential solar.

Residential Solar Qualifications

To qualify for residential solar, you need a good credit score so you can apply for a loan and get a low-interest rate. Interested parties also need taxable income so they can use the ITC. They also need enough unshaded space for the system size necessary for the energy needs.

Timing Your Utah Solar Installation

Some timing issues might come up with solar. You might need to wait until you can get your roof replaced or until your credit score has risen. Your current house might not have the necessary space to meet your needs, which means you would have to wait until your next home. However, because the ITC is phasing down and every year with solar is a year without an electricity bill, it’s smart to add residential solar as soon as possible if you don’t have these hurdles in your way.

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