President Biden had barely set foot in the White House before he signed the Paris Agreement.
This international accord aims to cut global emissions dramatically over the next 20 years by reducing the use of non-sustainable energy sources. These include the coal and gas used to create electricity.
That means solar power’s a top priority across the globe right now, and the USA’s completely on board with it.
So, if you live in Utah and you’re considering doing your part to stop global warming, you’re probably wondering how much it’s going to cost you.
Keep reading to discover the cost of solar panels in this part of the world.
The Average Cost of Solar Panels
Currently, the cheapest 3kW solar installation works out to around $8,850 in Salt Lake City. You’ll need at least double that to meet the energy needs of the average home though.
The good news is that larger installations cost less per kWh than smaller ones, although you’ll still pay more upfront for these systems. Plus you can benefit from bigger tax credits when you opt for more solar panels.
That means the cost of solar panels per kWh in Utah works out to $2.67, or $11,836 for a 6kW system once you take the federal savings into account. These prices include the cost of the solar panels, batteries, inverter, and labor to get everything up and running.
With dozens of installers to choose from in Salt Lake City, it’s worth shopping around to find the cheapest installation prices before you commit.
How You Save With Solar Panels in Salt Lake City
Currently, you’ll enjoy a 26% federal solar tax credit when you install a solar power system in the USA. The state of Utah also offers a 25% state tax credit, capped at $1,200.
What’s more, according to this website, blueravensolar.com/utah/salt-lake-city/, the cost of solar panels per square inch is now 55% cheaper than 5 years ago and prices continue to decline.
Don’t let that cause you to stall your installation though, the Utah tax cap will decrease to $800 in 2022 and won’t apply after that.
What’s more, when your home or business has solar power, you’ll experience massive savings on electricity. If you go completely off the grid, you can look forward to paying nothing towards your energy needs in years to come.
If you opt for a grid-locked system, you’ll benefit from reduced electricity bills as well as extra savings. When you feed your excess solar power back into the grid, your power company gives you a credit in return.
In this way, you can save up to $22,836 over twenty years.
Are Solar Panels Worth It?
There’s no doubt that the cost of solar panels pales in comparison to what you’ll pay for electricity over the years of service you’ll get out of them once they’re installed.
Add to that all the tax incentives, and environmental benefits and you’ll never look back when you opt for a solar installation.
Browse our blog for useful tips on how to run your home and business more efficiently.