Solar Panel Cost Guide in Murray, UT (2024 Update)
- Murray Solar Installation Cost: $12,070
- 25-Year Savings: $13,814
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Murray
Let’s have a look at the average cost of solar panels in Murray.
In Murray, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Murray, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,070, or $17,260 before the federal solar tax credit of 0 is applied.
These figures are only averages, and the cost of going solar for you may look different based on the amount of energy your home requires and what company you go with.Many homeowners find installing solar panels is a sound investment. The average homeowner in Murray can save around $17,000 on their energy bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Murray
| Year | Return on Investment |
|---|---|
| 1 years | $-11,097 |
| 3 years | $-9,149 |
| 5 years | $-7,202 |
| 7 years | $-5,255 |
| 9 years | $-3,308 |
| 11 years | $-1,361 |
| 13 years | $587 |
| 15 years | $2,534 |
| 17 years | $4,481 |
| 19 years | $6,428 |
| 21 years | $8,375 |
| 23 years | $10,323 |
| 25 years | $12,270 |
Top Solar Installers in Murray
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar company can make switching to solar power much easier. Local solar companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Murray
Factors that Affect Solar Panel Costs in Murray
Although the average cost of a solar system in Murray is $12,070, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,290.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Murray average.
Solar Financing Terms
Many homeowners find the average cost of solar in Murray to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s vital to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Murray, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $3.42 | $14,371 | $12,699 | 13.3 years |
| 8 kW | $3.36 | $18,792 | $17,301 | 13.0 years |
| 10 kW | $3.29 | $23,030 | $22,087 | 12.8 years |
| 12 kW | $3.22 | $27,083 | $27,057 | 12.5 years |
| 14 kW | $3.16 | $30,952 | $32,211 | 12.3 years |
| 16 kW | $3.09 | $34,637 | $37,550 | 12.0 years |
| 18 kW | $3.03 | $38,138 | $43,073 | 11.7 years |
| 20 kW | $2.96 | $41,454 | $48,780 | 11.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Murray, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 $16,450 for a 5-kW system and $32,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Murray?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.