Want to reduce your utility bill?
Turn up the AC in the summer without a huge bill?
Help the environment by switching to clean energy?
Great! These are all reasons that homeowners in Payson, UT have been going solar.
We understand – solar can be complicated at first, but it doesn’t have to be.
The research team at Ohmhome has compiled this guide to solar panels in Payson, UT to help you through the process. The good news for homeowners in Payson, UT thinking about going solar is that there is a lot of data available on cost, system sizes and financing options.
Table of Contents
Cost of Solar Panels in Payson, UT
The cost of solar in Payson, UT has dropped significantly in recent years due to the increase in module supplies and other supply chain efficiency improvements. According to the U.S. Department of Energy’s Q4-16 Sunshot report, the median price of residential solar in major markets was $4.20 per watt with the lowest 20% at approximately $3.50 per watt.
Solar Savings in Payson, UT
|$17,500||Estimated Panel Cost (5kW * $3.50)|
|($5,250)||Less: Federal Tax Credit|
|$12,250||Final Cost After Federal Tax Credit|
|$1,060||Estimated Annual Savings|
|$31,800||Total 30 Year Savings|
Solar Incentives in Payson, UT
State and federal incentives can significantly reduce the net cost of a solar system.
In addition to the Federal Tax Credit (30% of the cost of the system after state rebates and credits), homeowners can take advantage of state and local tax incentives. The most definitive source for state incentives in Payson, UT, is the DSIRE database for Utah, which is managed by the N.C. Clean Energy Technology Center.
Payson, UT has been graded a A for net metering policies and A for interconnection policies and procedures by freeingthegrid.org.
The IRS form 5695, Residential Energy Credits can be found here .
Solar Financing in Payson, UT
Solar financing is simple, right?!
Savings Calculations and Methodology (Per Month)
|Month||Available kW / m2 / day||Max savings / month|
The savings above are calculated using average utility rates in Payson, UT from the U.S. Energy Information Administration and solar radiation data from the National Renewable Energy Laboratory . The supporting calculations are (using August as an example):
|7.43||kWh per day per square meter based on solar radiation data|
|x 25||Square meters of a 5 kW solar system|
|x 18%||Solar panel efficiency (% of solar radiation converted to energy)|
|33.44||kWh of electricity produced per day|
|x $0.1074||Average kWh price of electricity in Payson, UT|
|x 31||Days in August|
|$111||Estimated savings in August|
Best Solar Companies in Payson, UT
Choosing a solar installer is arguably the most important step of going solar for homeowners looking for the best solar companies in Payson, UT and we recommend reading our guide on how to choose a solar company. An important consideration is whether to use a large national installer or a local installer. In many cases, a local installer that does not have high customer acquisition costs can offer you a better deal.