Benefits of Solar Energy
Solar energy provides multiple benefits. Let's look at a few of them.
- Reduced carbon footprint: Adopting solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: You can skip the added cost of grid-tied power by generating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back for credits on your bill.
- Better energy independence: Solar energy can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with an optional battery storage system.
What Solar Incentives Are Available to Murray Homeowners?
Utah homeowners who choose solar could qualify for tax credits, rebates, reimbursements and special financing. Here are just a few of the region's incentive programs.
Incentive Type: Corporate Tax Credit
Website: energy.utah.govIncentive Amount:
Commercial wind, geothermal electric, and biomass systems 660 kW or greater, and solar PV systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years
Other commercial technologies and commercial wind, geothermal electric, solar PV, and biomass systems smaller than 600 kW: 10% of installed cost
Photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost
Incentive Type: Personal Tax Credit
Website: energy.utah.govIncentive Amount:
Residential: 25%
Commercial wind, geothermal electric, and biomass systems 660 kW or greater 0.35¢/kWh ($0.0035/kWh) for 4 years
Other commercial technologies and commercial wind, geothermal electric, and biomass systems smaller than 660 kW: 10% of installed cost
Solar photovoltaic systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years
Solar photovoltaic systems smaller than 660 kW: 10% of installed costSolar photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost
Incentive Type: Rebate Program
Website: wattsmarthomes.comIncentive Amount:
Ductless Heat Pumps: Up to $1,700
Electronically Commutated Motors: Up to $100
Evaporative Coolers: Up to $200
Heat Pumps: up to $750
Ground Source Heat Pumps: up to $2,500
Rooftop Heat Tape Timer: up to $100
Room Air Conditioners: Up to $20
Smart Thermostats: $50
Whole House Ventilation Fans: up to $125
Manufactured Homes Duct Sealing: Free service available
Manufactured Homes Ductless Heat Pumps: Up to $1,300
Lighting: Special pricing at certain retailers
Heat Pump Water Heaters: up to $550
Insulation: Up to $0.10/sq.ft
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Murray
Choosing a company is the first step toward an effective and valuable solar energy system. Make your choice based on the following important considerations.
Licensing and Training
If a solar energy system in Utah doesn't connect to the grid, there are no licensure requirements. For other jobs, solar contractors must hold license S202, a specialty classification from the Utah Division of Occupational and Professional Licensing. The license requires a 25-hour course to obtain. Solar installers can also earn accreditations from standards organizations and trade groups. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Murray
The style of solar panels you choose decides how much power you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can boost your solar system's performance. Not all solar providers offer these optional components, so look for a contractor that installs them if it's crucial for you.
You can plan to spend about $16,450 on average for a five-kilowatt solar energy system in Murray. Use the table in this section to get an idea of the amount Murray solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,161 |
| Solar Polycrystalline | $905 |
| Thin-Film | $529 |
| Solar Battery | $743 |
| Solar Home EV Charger | $2,786 |
Financing Solar Energy in Murray
Choosing the ideal financing option will influence your overall solar system cost and expected savings. Common payment options include leases, power purchase agreements, cash payments, and loans. Most solar experts recommend a cash payment or using a solar loan. Cash payments require a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a car or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate determined by the energy you use, as with an electric bill. We generally don’t recommend these two options because you won't own the panels and are disqualified from using solar incentives. Look for contractors that offer multiple payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in Murray.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Additional incentives may be available through local governments, usually in the form of rebates and special financing programs.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.2 years |
| 2 kW | 4.4 years |
| 5 kW | 11.0 years |
| 10 kW | 21.9 years |
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Frequently Asked Questions About Solar in Murray
How much money could I save by going solar in Murray?
Is solar energy common in Murray?
Will solar energy systems boost my Murray home price?
What is a Murray solar panel's average lifespan?
Is installing solar panels a quick job?
What size should my new Murray solar system be?
How can I boost my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed payments each month.
With both leases and PPAs, you do not own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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