Solar Panel Cost Guide in Murraysville, NC (2023 Update)
- Murraysville Solar Installation Cost: $11,329
- 25-Year Savings: $18,616
- Payback Period: 9.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Murraysville
Let's take a look at the average cost of solar in Murraysville.
The national average cost of solar panels is $2.66 per watt, but in Murraysville it's 2.54 per watt. The average Murraysville homeowner needs a 6.4-kilowatt system, which would cost about $11,326 with the federal tax credit, or $16,196 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more. With average savings of about $18,000 on energy bills over 20 years, many homeowners in Murraysville find installing solar panels can pay off big.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Murraysville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,858 |
| 3 years | $-6,916 |
| 5 years | $-3,974 |
| 7 years | $-1,031 |
| 9 years | $1,911 |
| 11 years | $4,853 |
| 13 years | $7,795 |
| 15 years | $10,737 |
| 17 years | $13,680 |
| 19 years | $16,622 |
| 21 years | $19,564 |
| 23 years | $22,506 |
| 25 years | $25,448 |
Top Solar Installers in Murraysville
Although it's possible to install solar panels on your own, it involves extra effort and know-how. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Local solar installers can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Murraysville
Factors that Affect Solar Panel Costs in Murraysville
Even though the average cost of a solar system in Murraysville is $11,326, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Murraysville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,540 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Murraysville, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Murraysville, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $17,103 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,088 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,215 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,485 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,897 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,452 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,148 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $61,987 | 8.5 years |
How to Save on Solar Panels
There are a large number of companies available in Murraysville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Murraysville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Murraysville?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Murraysville?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.