Solar Panel Cost Guide in Durham, CT (2024 Update)
- Durham Solar Installation Cost: $11,907
- 25-Year Savings: $20,100
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Durham
We go over average solar pricing in Durham.
The average cost of a solar system in Durham is 4 per watt.The average Durham homeowner needs a 4.5-kilowatt system, which would cost about $11,907 with the federal tax credit, or $17,027 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with.Even with the significant upfront cost, the average Durham homeowner can save around $24,000 on their energy bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Durham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,063 |
| 3 years | $-6,375 |
| 5 years | $-2,687 |
| 7 years | $1,001 |
| 9 years | $4,689 |
| 11 years | $8,377 |
| 13 years | $12,065 |
| 15 years | $15,753 |
| 17 years | $19,441 |
| 19 years | $23,129 |
| 21 years | $26,817 |
| 23 years | $30,505 |
| 25 years | $34,193 |
Top Solar Installers in Durham
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be time-consuming. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Durham
Factors that Affect Solar Panel Costs in Durham
Though the average cost of a solar system in Durham is $11,907, your actual cost may differ. There are several 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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to think 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’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Durham, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s important to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Durham, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have 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 | $3.90 | $16,380 | $21,968 | 10.7 years |
| 8 kW | $3.83 | $21,420 | $29,711 | 10.5 years |
| 10 kW | $3.75 | $26,250 | $37,663 | 10.3 years |
| 12 kW | $3.67 | $30,870 | $45,826 | 10.1 years |
| 14 kW | $3.60 | $35,280 | $54,199 | 9.9 years |
| 16 kW | $3.52 | $39,480 | $62,781 | 9.7 years |
| 18 kW | $3.45 | $43,470 | $71,574 | 9.4 years |
| 20 kW | $3.38 | $47,250 | $80,577 | 9.2 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 pick the right company for you, here are some tips to keep in mind:
- Contract: When reading 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 like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar system installer has a good reputation by verifying 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.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Durham, CT Solar Cost FAQs
How much does it cost to install solar panels in Durham?
The average cost of solar panels in Durham is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Durham?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.