If you live in the Beehive State, you’ll know that you get plenty of great sunlight. This makes living in Utah ideal for generating solar power. With this in mind, you may be considering investing in residential solar panels.
But before you leap in and get solar in Utah, you should do some research. You’ll need to know the cost of installing solar panels, what type of tax credits and rebates are available, and which are the best solar companies in Salt Lake City.
So, how do you find out all of this information?
We’ve compiled this handy guide to Utah solar that makes it far easier to make decisions relating to your switch to this wonderful source of renewable energy.
1. The Solar Energy Market Is Rapidly Growing
There are currently 119 solar companies in Utah. These companies work across manufacturing, installation, and development. It’s estimated that there will be a production growth of 1,447 MW over the next five years as more homes and businesses adopt solar PV technology.
Part of this growth is down to the drop in the cost of installing solar panels. Going back just a few short years, you’ll see that getting panels fitted to your home was over double the price that it is now.
Solar power is becoming more accessible, get an estimate here to find out how much an installation will cost you.
2. External Policies Impact On Everything Solar Companies in Salt Lake City Do
With local and federal governments running initiatives aimed at getting more homes and businesses to use renewable energy such as solar power, external policies play a big part in everything that solar companies do.
At the moment in Utah, you’ll be eligible for the federal tax credit scheme, the net metering law, and the Utah State tax credit. In all, this amounts to a considerable saving on the cost of your solar panel installation.
3. You Can Get Tax Credits to Reduce the Costs Charged By Solar Companies
While the costs of solar panels in Salt Lake City are dropping every year, it is possible to lower the price you pay for your installations by claiming one or all of the generous solar incentives.
At the moment, the federal tax credit scheme will help you save as much as 26% on the cost of your installation. It’s important that you act fast if you want to benefit from this discount, as the amount you’ll save will drop to 22% for installations getting fitted in 2023.
Get Solar Energy Today
The number of solar companies in Salt Lake City is on the rise, and the prices of solar are dropping. With plenty of choice in a growing market, there has never been a better time to switch to generating your own renewable energy than right now.
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