Solar Energy in Utah
Utah continues to be a strong performer in the residential solar sector, despite having some of the lowest power prices in the nation.
Net metering and the state tax credit combined with the federal tax credit provide great savings when it comes to installing solar for Utah homeowners.
Utah Solar Power Facts
$2.73 watt
Average cost: 5kW solar power system.
Average Payback time
On average it takes 8 Years 5 Months to pay back the system.
Average Lifetime Savings
On average, solar power can save you $51,208 over your lifetime.
5¢ kWh
This is the levelized cost of solar energy.
21¢ kWh
This is the levelized cost of energy without solar panels.
14,564 kWh
Annual power production of home solar panels.
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How much do solar panels cost in Utah?
Before 26% solar tax credit
Before 26% solar tax credit
Ave 15 year term, 2.5% price escalator
What are the pros and cons of installing solar panels in Utah?
The advantage of installing solar panels in Utah is that there is both a statewide tax credit and federal tax credit. Utah also has some of the highest levels of solar irradiation in the country, meaning a solar system installed on your home in Utah will produce more power than solar systems in other parts of the country.
The disadvantage of installing solar panels in Utah is that power prices are much lower in the state than they are in other parts of the country. That means for each kilowatt hour of solar power your system produces, you receive less back than you would in other states. Utah also does not have much in the realm of incentives and rebates.
However, the state tax credit, high solar production, and a general decrease in the cost of solar more than make up for the low electric prices and lacking incentives. Homeowners in Utah will be kicking themselves if they don’t install solar panels while these generous incentives are still around.