Solar Panel Cost Guide in Murray, UT (Mar 2023)
- Murray Solar Installation Cost: $9,830
- 25-Year Savings: $13,816
- Payback Period: 10.4 Years
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Updated March 14, 2023
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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 2.68 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 after 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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately ascertain 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 big investment. That's why many Murray homeowners choose to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence the cost. Murray's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk 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 | $2.79 | $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 |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Installation Process: When making the switch to solar, it's essential to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project timeline.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points 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 (coming 2022)
EcoWatch's Murray, UT Solar Cost FAQs
How much does it cost to install 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 real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Murray?
A solar panel system isn'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 can help lower the cost.
Can you sell solar power back to the grid in Murray?
Most states have net metering programs of some kind. Through these, you can either 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.
How long do solar panels last in Murray?
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 higher 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.