Solar Panel Cost Guide in Murraysville, NC (2024 Update)
- Murraysville Solar Installation Cost: $15,655
- 25-Year Savings: $18,616
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Murraysville
Find out what the average cost of solar panels are in Murraysville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Murraysville, the typical cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Murraysville, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $15,655, or $22,387 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $18,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Murraysville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,184 |
| 3 years | $-11,242 |
| 5 years | $-8,300 |
| 7 years | $-5,358 |
| 9 years | $-2,416 |
| 11 years | $527 |
| 13 years | $3,469 |
| 15 years | $6,411 |
| 17 years | $9,353 |
| 19 years | $12,295 |
| 21 years | $15,238 |
| 23 years | $18,180 |
| 25 years | $21,122 |
Top Solar Installers in Murraysville
Installing solar panels yourself can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
If you’d like to make the switch to solar but still aren’t certain which solar installer to go with, here are our recommendations for providers in Murraysville:
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 Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Murraysville
Factors that Affect Solar Panel Costs in Murraysville
Although the average cost of a solar system in Murraysville is $15,655, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,510 per kilowatt in Murraysville.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Murraysville, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $12,866 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,547 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,425 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,500 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,772 | 12.5 years |
| 16 kW | $3.30 | $36,953 | $38,239 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,904 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,765 | 11.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
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 Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Murraysville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Murraysville?
The average cost of solar panels in Murraysville is about $17,550 for a 5-kW system and $35,100 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.
Can you get solar panels for free in Murraysville?
Solar panels aren’t free in Murraysville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Murraysville?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 the average daily sunlight your roof gets. You can take a 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 get between 20 and 35 panels to cover 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.