Solar Panel Cost Guide in Durham, NC (2024 Update)
- Durham Solar Installation Cost: $17,166
- 25-Year Savings: $19,800
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Durham
We go over average solar pricing in Durham.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Durham, the average cost of solar panels is 4 per watt.The average solar panel system size in Durham is around 7.0 kilowatts, meaning a cost of about $17,166 for a solar installation, or $24,547 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will look different based on the amount of energy your home requires and what company you want to go with.Many homeowners find going solar is a sound investment. The average homeowner in Durham can save about $18,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Durham that can help you get a more accurate cost estimate for your home.
Solar savings over time in Durham
| Year | Return on Investment |
|---|---|
| 1 years | $-15,778 |
| 3 years | $-13,001 |
| 5 years | $-10,225 |
| 7 years | $-7,448 |
| 9 years | $-4,671 |
| 11 years | $-1,895 |
| 13 years | $882 |
| 15 years | $3,659 |
| 17 years | $6,435 |
| 19 years | $9,212 |
| 21 years | $11,989 |
| 23 years | $14,765 |
| 25 years | $17,542 |
Top Solar Installers in Durham
When switching to solar energy, many homeowners prefer to go with a solar installation company since installing a solar system yourself can be a difficult project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you’d like to start using solar energy but still aren’t sure which solar panel company to go with, here are our recommendations for providers near you:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Durham
Factors that Affect Solar Panel Costs in Durham
There are a number of factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,510. The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to decide on 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’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.While solar loans make going solar more accessible for Durham homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Durham is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.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 specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.65 | $15,332 | $12,340 | 13.9 years |
| 8 kW | $3.58 | $20,049 | $16,846 | 13.6 years |
| 10 kW | $3.51 | $24,570 | $21,549 | 13.3 years |
| 12 kW | $3.44 | $28,894 | $26,449 | 13.1 years |
| 14 kW | $3.37 | $33,022 | $31,545 | 12.8 years |
| 16 kW | $3.30 | $36,953 | $36,838 | 12.5 years |
| 18 kW | $3.23 | $40,688 | $42,327 | 12.3 years |
| 20 kW | $3.16 | $44,226 | $48,013 | 12.0 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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Durham, NC Solar Cost FAQs
What is the average cost of installing solar panels in Durham?
The average cost of solar panels in Durham 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 like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Durham?
Solar panels aren’t free in Durham, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Durham is currently $396,801, which means you can expect a value of about $16,269 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Durham is a fruitful investment.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to 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.