Solar Panel Cost Guide in Murray, UT (Oct 2022)

  • Murray Solar Installation Cost: $9,830
  • 25-Year Savings: $13,816
  • Payback Period: 10.4 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 Murray

See how much it might cost to install solar panels in Murray.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Murray, the typical cost of a solar system is $3 per watt. Because a 5.2-kW system is needed to cover the energy costs of a typical home in Murray, the average price of going solar will be about $9,830 before claiming the federal solar tax credit of 30%.

These figures are just averages, and your own solar costs will most likely differ based on your energy needs and what company you want to go with. With average savings of about $17,000 on power bills over 20 years, many homeowners in Murray find investing in solar can pay off big.

Click the button below to get connected to a reputable solar panel company in Murray for a custom quote.

Solar savings over time in Murray

Year Return on Investment
1 years $-8,884
3 years $-6,993
5 years $-5,101
7 years $-3,209
9 years $-1,318
11 years $574
13 years $2,466
15 years $4,358
17 years $6,249
19 years $8,141
21 years $10,033
23 years $11,925
25 years $13,816

Top Solar Installers in Murray

Installing solar panels yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.

If you'd like to go solar but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:

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 Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

See all of the solar companies in Murray

Factors that Affect Solar Panel Costs in Murray

The cost of installing a solar system in Murray can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment Size

Size is one of the largest factors that determines the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Murray homeowners decide to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Murray, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk 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 promotion 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 $2.79 $11,706 $15,364 10.8 years
8 kW $2.73 $15,308 $20,785 10.6 years
10 kW $2.68 $18,760 $26,357 10.4 years
12 kW $2.63 $22,062 $32,079 10.2 years
14 kW $2.57 $25,213 $37,950 10.0 years
16 kW $2.52 $28,215 $43,972 9.8 years
18 kW $2.47 $31,067 $50,144 9.6 years
20 kW $2.41 $33,768 $56,466 9.4 years

Solar Incentives in Murray

Name Renewable Energy Systems Tax Credit (Corporate)
Website Visit here
More Info Click here

Name Renewable Energy Systems Tax Credit (Personal)
Website Visit here
More Info Click here

Name Rocky Mountain Power - wattsmart Residential Efficiency 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

Since the model of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
  • Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.

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 Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

EcoWatch's Murray, UT Solar Cost FAQs

What is the average cost of installing solar panels in Murray?

The average cost of solar panels in Murray is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Murray?

Solar panels aren't free in Murray, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Do solar panels increase your home value?

Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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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