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.
The national average cost of solar panels is $2.66 per watt, but in Murray it’s 3 per watt.The average solar panel system size in Murray is around 5.2 kilowatts, meaning a cost of about $12,070 for a solar installation, or $17,260 before the 0 federal solar tax credit 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 about $17,000 on their electricity bills over 20 years.
To receive a free quote from a vetted solar installer in Murray, you can 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
Putting up solar panels on your own can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. In addition, if you’d like to maximize your investment in solar, using a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- 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
There are many factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar system in Murray, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $3,290 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about 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 energy 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 make paying for solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can influence the cost. Murray’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Murray have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable 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 check your installer’s reputation is by reading reviews.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Local Installer
ES Solar
- 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
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 actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is going solar worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 buy 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.