Solar Guide for Spanish Fork City Corporation Customers

If you're a Spanish Fork City Corporation customer considering solar energy, you're making a smart financial decision. With residential electricity rates averaging 10.1 cents per kWh, solar panels can dramatically reduce or even eliminate your monthly electric bill. The typical Spanish Fork City Corporation customer spends approximately $81 per month on electricity — money that could be working for you instead of going to the utility.

Utah service area

Spanish Fork City Corporation has a reduced rate net metering policy. While the buyback rate of 7.07¢/kWh is lower than the 10.1¢/kWh retail rate, solar remains highly economical. The key is to size your system to match your daytime consumption as closely as possible, maximizing direct savings at the retail rate. Any excess generation still earns you credits, just at the reduced buyback rate.

An 8kW solar system for a Spanish Fork City Corporation customer costs approximately $21,200 before the 30% federal Investment Tax Credit. After the ITC, your net cost drops to about $14,840. This system produces enough clean energy to save you approximately $1,379 per year, resulting in a payback period of roughly 7.1 years.

After your system pays for itself, you'll enjoy 14+ years of dramatically reduced electricity costs. Over a 25-year period, total savings for Spanish Fork City Corporation customers are estimated at $34,475 — and that's without accounting for the likely 2-3% annual increase in electricity rates that would make your savings even greater.