Solar Panel Cost Guide in Durham, ME (2023 Update)
- Durham Solar Installation Cost: $10,697
- 25-Year Savings: $11,938
- Payback Period: 11.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Durham
We go over average solar pricing in Durham.
In Durham, solar panels cost about 2.83 per watt on average. The average solar panel system size in Durham is around 5.4 kilowatts, meaning a cost of about $10,697 for a solar installation, or $15,297 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. Even with the significant initial cost, the average Durham homeowner can save around $16,000 on their power bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Durham
| Year | Return on Investment |
|---|---|
| 1 years | $-9,792 |
| 3 years | $-7,981 |
| 5 years | $-6,170 |
| 7 years | $-4,360 |
| 9 years | $-2,549 |
| 11 years | $-738 |
| 13 years | $1,073 |
| 15 years | $2,884 |
| 17 years | $4,694 |
| 19 years | $6,505 |
| 21 years | $8,316 |
| 23 years | $10,127 |
| 25 years | $11,938 |
Top Solar Installers in Durham
Putting up solar panels yourself can be a stressful undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for your family.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Durham:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Durham
Factors that Affect Solar Panel Costs in Durham
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Durham: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Durham, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $2,830 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Durham, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Durham homeowners choose to finance their solar panel systems to make going solar more affordable. Though solar loans make switching to solar energy more accessible for Durham homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can impact how much it costs. Durham's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.94 | $12,361 | $12,766 | 12.3 years |
| 8 kW | $2.89 | $16,165 | $17,338 | 12.1 years |
| 10 kW | $2.83 | $19,810 | $22,069 | 11.8 years |
| 12 kW | $2.77 | $23,297 | $26,958 | 11.6 years |
| 14 kW | $2.72 | $26,625 | $32,006 | 11.4 years |
| 16 kW | $2.66 | $29,794 | $37,212 | 11.1 years |
| 18 kW | $2.60 | $32,805 | $42,576 | 10.9 years |
| 20 kW | $2.55 | $35,658 | $48,100 | 10.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which installer you should opt for, since different companies have access to different panels.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Durham, ME Solar Cost FAQs
How much does it cost to install solar panels in Durham?
The average cost of solar panels in Durham is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Durham?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 are completely unusable 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.