Utah Solar Power
Utah has great solar power potential. Homeowners and businesses throughout the state are harnessing power from the sun and slashing their energy costs — and that’s not the only advantage that comes with solar panel installation
A high-quality photovoltaic system is a low-risk investment, one that can provide you with decades of impressive returns. The benefits are undeniable, and with the financial incentives available in Utah, the cost of going solar is probably much less than you think.
Solar Facts in Utah
Utah is a prime location for residential and commercial solar installation, with abundant sunshine two out of every three days of the year. Today, Utah ranks among the top states for solar installations with a growing volume of solar panels used to power homes and businesses.
Utah ranked 11th among all the states for solar installations, up from 20th in 2019
Utah solar panels generate enough power to provide electricity to over 350,000 homes
Over 7% of the state’s electricity comes from solar energy
Prices for solar installations have dropped about 40% in the last 5 years, making it an affordable option for many homes and businesses
Solar power does more than just benefit your home and lower your energy bills, though. It also plays a major role in the economy, providing jobs for thousands of Utahns.
There are more than 7,100 solar-related jobs in Utah
Utah is home to 114 solar companies, including 17 manufacturers and 55 installers, among others
The state has invested almost $3 billion in solar infrastructure
Utah has seen more than 39,500 solar installations
Solar usage in the state is projected to grow by 1,456 MW over 5 years, ranking 16th in the nation
Utah offers several incentives for installing solar, which you can find on the Database of State Incentives for Renewables & Efficiency (DSIRE) website by zip code. You can also check the Utah Office of Energy Development for information on energy policy and programs throughout the state and in your local area.
Is it Worth Going Solar in Utah?
Utah ranks ninth in the nation for average savings when installing solar panels, which makes it a great place to consider solar energy. The average system installed for residential solar is 4 kW, providing 6,641.9 kWh (kilowatt hours) of energy every year. Currently electricity costs about 10 cents per kWh, but that is forecast to go up to 22 cents/kWh over the next 25 years – a solar energy system installed today could last as many as 40 years or more, helping you avoid those increases.
Before going solar, it’s important to weigh the pros and cons, including the following considerations.
Pros of Going Solar in Utah
Short payback period: most Utah businesses or homeowners who choose to install solar panels are able to recoup the cost in just a few short years, providing significant savings over the life of the solar system.
Free electricity after payback period: once you reach your break-even point (the payback period), your electricity is free as long as you have a system large enough to meet all your power needs.
Net metering available: all the major utility companies in Utah offer net metering, which gives you the chance to sell excess solar power to the grid and get credit toward any energy you use overnight or on days when there is no sunlight. Depending on your own energy usage, you may have enough excess energy to make a profit from the energy your solar panels generate.
Immediate benefits: once your solar system is installed, you will see the immediate benefit of a lower monthly electric bill. Most Utah homes save about $80 to $90 a month with a solar system.
Low maintenance and warranty protection: solar panels from PRVL Energy require very little maintenance and are designed to last for decades, so you get the benefits of solar for years to come without worrying about excessive upkeep costs. Plus our panels come with a manufacturer’s warranty and our own guarantee that we’ll stand behind the quality of our equipment for up to 25 years.
Lower your carbon footprint: solar panels benefit the environment by eliminating your need for fossil fuels to generate energy. It’s a clean, sustainable, and renewable resource that produces no greenhouse gases or carbon emissions.
Tax incentives: through 2021 there are tax incentives available from federal and state governments, which can help reduce the up-front costs of installing a solar system.
Property values: your solar panels can add value to your property. The Appraisal Institute published research showing that homes with solar sell quicker and at a higher value than those without.
Potential Drawbacks of Solar
While solar offers homeowners many benefits, there are some reasons it may not be right for your home.
Up-front costs: you pay up front for the costs to install solar panels, which can be several thousand dollars when you include the panels, battery, inverter, and accessories. Tax credits can offset some of these costs, but usually not all of them, and credits are declining each year.
Space requirements: you must have a large roof or other area without obstructions to capture enough solar energy to power your home. Systems can be mounted on the ground if you don’t have enough roof space.
Only available to homeowners: renters generally cannot install solar panels. However, your landlord may be interested, so you can share information with him/her about solar energy and its benefits.
Financial Benefits of Switching to Solar Power
Protecting the environment is one reason to adopt photovoltaic power, but a better argument for making the switch may be that a PV system can save you money.
How, exactly? Install solar panels at your Utah home or business, and you can look forward to the following significant financial advantages.
Low or No Energy Costs
The average residential electricity price in Utah is 10.42 cents per kilowatt-hour, and most homeowners pay just under $100 every month. As for businesses, monthly energy costs can reach into the tens of thousands. By installing solar panels, you can drastically reduce or even eliminate your monthly electric bill.
Stabilized Energy Costs
Utility rates in Utah are on the rise, as they have been across the country for the last 30 years. Once you install a residential or commercial solar power system, you will no longer be subjected to the ever-increasing costs of electricity. Instead, you’ll lock in your rates for the next several decades, and every time the prices go up, your savings will increase.
Increased Property Value
Solar panel installation adds value and marketability to any Utah property. Homes with photovoltaic power systems typically sell up to 20 percent faster — and for up to 17 percent more money — than comparable homes without solar panels. The average homeowner sees their property value rise by $15,000, which is quite a bit more than the boost offered by some other home improvement projects.
Commercial solar power systems can also provide a big increase in property value — an important factor for many Utah business owners.
Financial Incentives for Solar Panel Installation
Installing a photovoltaic system can clearly benefit your budget, and going solar in Utah is surprisingly affordable.
A range of financing options, including loans and leases, are available for both homeowners and business owners in Utah. And to bring down your costs and see a quicker return on investment, you can take advantage of lucrative financial incentives.
Federal Solar Tax Credit
The federal investment tax credit allows you to reduce your income tax liability by 26 percent of your solar power system costs — if you begin your residential or commercial photovoltaic project by the end of 2020.
Utah Solar Tax Credit
In Utah, homeowners who install solar panels in 2020 can claim 25 percent of their total photovoltaic system costs on their income taxes, up to $1,600. Business owners can claim 10 percent of their overall costs, up to $50,000. And yes, you can claim both the federal and Utah state solar tax credits.
Net Metering in Utah
Under Utah law, utility providers are required to credit residential customers for any solar electricity their photovoltaic systems send to the grid. Known as net metering, the program can be financially beneficial if your solar panels create more energy than your household needs.
Solar Power System Payback Time
You’ve no doubt heard that solar panels can pay for themselves over time, but how long will it take to get your investment costs back?
The exact time varies, but most Utah residents who invest in solar power reach the point of payback within about 8 to 10 years. To calculate your payback time, take the total cost of your Utah photovoltaic project — including the solar panels, inverters, mounting hardware, and installation charges — and subtract the financial incentives you’ll receive. That’s your overall cost.
Now, add up your yearly energy costs — that’s how much you can save by installing a solar power system. Finally, take your overall costs, and divide by your annual energy savings. The answer is the number of years it will take for your Utah photovoltaic project to pay for itself.
Planning Solar Panel Installation in Utah
If you’re ready to save money by switching to solar power, make the process easy — turn to the professional team at PRVL Energy.
Professional solar analysis and calculations to show you how much you can save
Multiple options for purchasing and leasing solar panel systems
Qualified sales representatives with extensive solar knowledge and experience
Individualized design plans for your home and your solar system to maximize energy capture
Speedy solar installations by a trained solar panel installer to get you up and running with a new solar system as quickly as possible
Premium solar equipment as a SunPower solar panels dealer
Contact Us Today
A locally owned and operated SunPower Elite Dealer — one of the few in the state of Utah, PRVL Energy has the skill, knowledge, and expertise to design and install a solar panel system that meets your energy needs and fits your budget. We have extensive experience completing both residential and commercial solar power projects, and we’re known for providing highly efficient and reliable photovoltaic energy systems.
Put your project in the hands of the PRVL Energy team, and you’ll be more than pleased with the installation. We handle every step, leaving you to sit back and wait for the impressive returns. We strive to provide a superior level of customer care, and with us, going solar is an enjoyable experience. To get the ball rolling on your Utah solar power system installation, contact us today!