The average cost to install solar is around $4.20 a watt so a 1kW system would cost around $4,800 depending on other factors. A typical home can fit and needs anywhere from a 3-5kW system. Your initial cost would normally run you around $12-21K. You would then deduct all of your tax incentives to bring your out of pocket expense down to around $6-12K.
A 1kW system in Utah will create an average of 1,400kWh's which could save you around $203 a year on your power bill at todays rates. A typical size system of 4kW would save you over $800 per year. Break that down monthly and it would reduce your monthly bill an average of $67 a month.
A typical payback period in Utah after incentives on a solar installation should around 7-10 years depending on rate hikes. That seems like a long time but most solar panels have a 25 year warranty and can last 30 years plus. Solar is an investment just like any other investment, it takes time but well worth the wait.
Utah does have different pricing when you use more energy. Going solar can cut your costs even more if you get your bill below the additional tiered pricing costs.
There are many factors that we look at when sizing a system? First is your electrical usage over 1 or 2 years. You will also want to look at how energy efficient your home is. Small changes can lower your electrical usage.