Solar Panel Cost Guide in Murraysville, NC (2024 Update)
- Murraysville Solar Installation Cost: $15,655
- 25-Year Savings: $18,616
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Murraysville
Find out what the average cost of solar panels are in Murraysville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Murraysville, the average cost of solar panels is 4 per watt.To cover the typical energy usage of the average home in Murraysville, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $15,655, or $22,387 before the federal solar tax credit of 0 is applied.
How much you pay can go higher or lower than the average in Murraysville based on a few factors, such as the brand of solar panels you choose and the solar installer you hire.Despite the large initial cost, the average Murraysville homeowner can save about $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a top solar installer in your area for a personalized quote.
Solar savings over time in Murraysville
Year | Return on Investment |
---|---|
1 years | $-14,184 |
3 years | $-11,242 |
5 years | $-8,300 |
7 years | $-5,358 |
9 years | $-2,416 |
11 years | $527 |
13 years | $3,469 |
15 years | $6,411 |
17 years | $9,353 |
19 years | $12,295 |
21 years | $15,238 |
23 years | $18,180 |
25 years | $21,122 |
Top Solar Installers in Murraysville
Although you can install solar panels yourself, it involves extra energy and knowledge. Because of that, most homeowners choose to go with a solar panel installer. In addition, if you’d like to maximize your investment in solar power, using a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
If you're searching for a solar company in Murraysville, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Murraysville
Factors that Affect Solar Panel Costs in Murraysville
Although the average cost of a solar system in Murraysville is $15,655, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Murraysville homeowners choose to finance their solar panel systems to make paying for solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can influence your pricing. Murraysville’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.65 | $15,332 | $12,866 | 13.6 years |
8 kW | $3.58 | $20,049 | $17,547 | 13.3 years |
10 kW | $3.51 | $24,570 | $22,425 | 13.1 years |
12 kW | $3.44 | $28,894 | $27,500 | 12.8 years |
14 kW | $3.37 | $33,022 | $32,772 | 12.5 years |
16 kW | $3.30 | $36,953 | $38,239 | 12.3 years |
18 kW | $3.23 | $40,688 | $43,904 | 12.0 years |
20 kW | $3.16 | $44,226 | $49,765 | 11.8 years |
How to Save on Solar Panels
The solar company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Murraysville, NC Solar Cost FAQs
How much does it cost to install solar panels in Murraysville?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Murraysville?
You can’t get solar panels for free in Murraysville. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Murraysville have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy 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 needs and how much 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 get 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.