Solar Panel Cost Guide in Murraysville, NC (Jan 2023)

  • Murraysville Solar Installation Cost: $11,326
  • 25-Year Savings: $18,619
  • Payback Period: 9.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Murraysville

Find out what the average cost of installing solar panels is in Murraysville.

The national average cost of solar panels is $2.66 per watt, but in Murraysville it's $3 per watt. The average Murraysville homeowner needs a 6.4-kilowatt system, which would cost about $11,326, or $8,381 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Murraysville can save around $18,000 on their electricity bills over 20 years.

To get a free quote from a pre-vetted solar company in Murraysville, you can click the button below.

Solar savings over time in Murraysville

Year Return on Investment
1 years $-10,128
3 years $-7,733
5 years $-5,337
7 years $-2,941
9 years $-546
11 years $1,850
13 years $4,245
15 years $6,641
17 years $9,036
19 years $11,432
21 years $13,828
23 years $16,223
25 years $18,619

Top Solar Installers in Murraysville

When making the switch to solar, many homeowners decide to hire a solar installer since putting up solar panels yourself can be a time-consuming project. Some solar companies, particularly local ones, can help you better understand incentives in Murraysville, optimizing your ROI.

If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our suggestions for providers in Murraysville:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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

Though the average cost of a solar system in Murraysville is $11,326, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Murraysville, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

Lastly, the company you hire to install your solar panels can affect the cost. Murraysville's solar companies all have different labor costs and add varying upcharges to 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

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:

  • Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
  • Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Murraysville, NC Solar Cost FAQs

How much does it cost to install solar panels in Murraysville?

This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Murraysville?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Does Murraysville have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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.

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