Solar Panel Cost Guide in Murray, NY (2024 Update)

  • Murray Solar Installation Cost: $10,538
  • 25-Year Savings: $7,906
  • Payback Period: 16.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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 4 per watt on average.The average solar panel system size in Murray is around 4.1 kilowatts, meaning a cost of about $10,538 for a solar installation, or $15,069 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Murray homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Murray see about $15,000 in savings on energy bills over 20 years.

Click the button below to get connected to a vetted solar panel company in your area for a personalized quote.

Solar savings over time in Murray

Year Return on Investment
1 years $-9,630
3 years $-7,813
5 years $-5,996
7 years $-4,178
9 years $-2,361
11 years $-544
13 years $1,273
15 years $3,090
17 years $4,907
19 years $6,725
21 years $8,542
23 years $10,359
25 years $12,176

Top Solar Installers in Murray

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make your switch to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor too, which can save you more money after your initial investment.

If you’d like to switch to solar energy but still aren’t sure which solar installer to go with, here are our suggestions for providers nearby:

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Murray

Factors that Affect Solar Panel Costs in Murray

Even though the average cost of a solar system in Murray is $10,538, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.

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 energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,650 per kilowatt in Murray.The kind of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment consists of more than 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 looking into 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 big investment. That’s why many Murray homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.

Solar Panel Installation Company

Lastly, the company you get to install your solar system can affect the cost. Murray’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 $3.80 $15,943 $7,947 16.7 years
8 kW $3.72 $20,849 $11,004 16.4 years
10 kW $3.65 $25,550 $14,266 16.0 years
12 kW $3.58 $30,047 $17,733 15.7 years
14 kW $3.50 $34,339 $21,404 15.4 years
16 kW $3.43 $38,427 $25,279 15.1 years
18 kW $3.36 $42,311 $29,359 14.8 years
20 kW $3.29 $45,990 $33,643 14.4 years

How to Save on Solar Panels

There are many 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:

  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Warranty: If you’re concerned about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Solar Panel Brands: The brand of solar panel you want to install plays a part in which installer you should opt for, since different companies have different panels.
  • Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the 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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Murray, NY Solar Cost FAQs

How much does it cost to install solar panels in Murray?

This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is cost the most important consideration when buying solar panels?

The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Does Murray have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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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