Solar Panel Cost Guide in Murphy, TX (Oct 2022)

  • Murphy Solar Installation Cost: $14,556
  • 25-Year Savings: $24,909
  • Payback Period: 9.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Murphy

We break down average solar pricing in Murphy.

In Murphy, solar panels cost about $3 per watt on average. Using this figure, a typical 7.7 would cost about $14,556 before the 30% federal solar tax credit is applied.

These figures are just averages, and the cost of going solar for you will vary based on factors unique to your home and what company you go with. With typical savings of about $19,000 on power bills over 20 years, many homeowners in Murphy find investing in solar can pay off big.

For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Murphy

Year Return on Investment
1 years $-12,977
3 years $-9,820
5 years $-6,663
7 years $-3,506
9 years $-348
11 years $2,809
13 years $5,966
15 years $9,123
17 years $12,280
19 years $15,437
21 years $18,594
23 years $21,752
25 years $24,909

Top Solar Installers in Murphy

Many homeowners decide to hire a solar panel company since trying to install solar panels by yourself can be a labor-intensive endeavor. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.

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

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)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

See all of the solar companies in Murphy

Factors that Affect Solar Panel Costs in Murphy

Even though the average cost of solar panels in Murphy is $14,556, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

System size is one of the largest factors that influences the overall cost of going solar. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Murphy to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. While solar loans make going solar more accessible for Murphy homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panel system can affect your pricing. Murphy's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you want and also fit into your budget.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.80 $11,750 $18,866 9.6 years
8 kW $2.74 $15,365 $25,456 9.4 years
10 kW $2.69 $18,830 $32,196 9.2 years
12 kW $2.64 $22,144 $39,087 9.0 years
14 kW $2.58 $25,308 $46,129 8.9 years
16 kW $2.53 $28,320 $53,322 8.7 years
18 kW $2.47 $31,182 $60,665 8.5 years
20 kW $2.42 $33,894 $68,159 8.3 years

Solar Incentives in Murphy

Name Renewable Energy Systems Property Tax Exemption
Incentive Amount 100%
Website Visit here
More Info Click here

Name Texas Gas Service - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a lot of companies to choose from in Murphy, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: If you're concerned about the endurance of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Solar Panel Brands: The type of solar panel you want plays a part in which company you should opt for, since different companies offer different panels.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer 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)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Murphy, TX Solar Cost FAQs

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

This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Is cost the most important thing to think about when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is switching to solar power worth it?

Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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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