Solar power in Syracuse, Utah
RMP do offer some okay incentives for their solar customers, although their net metering plan is a bit below average, a state tax credit is available and if you're lucky a rebate.
At the start of each year RMP does offer a $1,100 per kW rebate up to $4,400 however, only enough funding is provided to offer 125 $4,400 rebates so the program ends quick!
Utah does offer a 25% of the system cost tax credit up to $2,000. There is also the federal solar tax credit — worth 26% in 2020, or 22% in 2021 — which can be applied regardless of system size. You may also spread the tax credit over several years.
Incentives are excellent in making solar a must have home investment in Syracuse.
Net Metering Broken Down
Under RMP's net metering customers are credited at the retail rate for power for their unused solar generation and after covering the cost of power drawn from the grid credit is given at the retail power rate and can be carried forward to be used on bills within the same 12 month cycle. Sadly if more power is exported than consumed at the end of the year, no compensation is offered; however just being able to wipe out your bill is nice.
The average cost of installing residential solar panels in Syracuse,
Utah in 2020 is
$2.67 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Syracuse, UT
is $13,350.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in Utah is only 793kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Syracuse solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our Utah solar savings calculator can do this because it contains a database of the electric rates charged by City of Bountiful, Kaysville City Corporation, PacifiCorp
How much can solar panels save you in Syracuse
What does the cost of a real solar system look like?
Facts about installing a 10.26kW solar system in Syracuse, UT
This system would offset 100% of your energy usage if your typical monthly bill is $158, however your situation may vary so try our Syracuse solar calculator to get a result tailored to you.
$17,038
Net cost of system
7 Years 8 Months
Average payback time
14,584 kWh
Annual power production
5¢/kWh
Levelized cost of solar energy
23¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 10.26kW system
Life-time savings on this system over the next 25 years
$59,738
(Prices shown after repayments of capital)
60
Solar companies in Syracuse, UT that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Syracuse
| System Size |
Cash purchase After 26% solar tax credit |
Financed purchase After 26% solar tax credit |
|---|---|---|
| 3kw | $6,371 | $6,881 |
| 4kw | $8,288 | $8,951 |
| 5kw | $10,101 | $10,909 |
| 6kw | $11,855 | $12,803 |
| 7kw | $13,468 | $14,545 |
| 8kw | $14,978 | $16,176 |
| 9kw | $16,450 | $17,766 |
| 10kw | $17,760 | $19,181 |
Find out what system size you need for your home
Going solar in Utah
Check out all of the ways energy providers of Utah can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Renewable Energy Systems State Tax Credit | State | Personal Tax Credit |
| Net Billing | State | Net Metering |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
