Solar Panel Cost Guide in Durham, NC (2023 Update)
- Durham Solar Installation Cost: $12,428
- 25-Year Savings: $19,794
- Payback Period: 9.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Durham
Here's how much it might cost to go solar in Durham.
While the national average of solar panels is $2.66 per watt, solar panels in Durham generally cost about 2.54. Using this figure, a typical 7.0-kW system would cost about $12,428 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
To get a free estimate from a highly rated solar installer in Durham, you can click the button below.
Solar savings over time in Durham
| Year | Return on Investment |
|---|---|
| 1 years | $-11,139 |
| 3 years | $-8,562 |
| 5 years | $-5,984 |
| 7 years | $-3,406 |
| 9 years | $-828 |
| 11 years | $1,750 |
| 13 years | $4,327 |
| 15 years | $6,905 |
| 17 years | $9,483 |
| 19 years | $12,061 |
| 21 years | $14,639 |
| 23 years | $17,216 |
| 25 years | $19,794 |
Top Solar Installers in Durham
Although you can install solar panels on your own, it involves extra labor and knowledge. That's why most people choose to go with a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Durham, the EcoWatch team has organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Durham
Factors that Affect Solar Panel Costs in Durham
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Durham: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,540. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Durham average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also adds to your all-in costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact how much you pay. Durham's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that offers the products, warranties and services you want and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $16,577 | 10.0 years |
| 8 kW | $2.59 | $14,508 | $22,387 | 9.8 years |
| 10 kW | $2.54 | $17,780 | $28,339 | 9.6 years |
| 12 kW | $2.49 | $20,909 | $34,434 | 9.4 years |
| 14 kW | $2.44 | $23,896 | $40,671 | 9.3 years |
| 16 kW | $2.39 | $26,741 | $47,050 | 9.1 years |
| 18 kW | $2.34 | $29,444 | $53,571 | 8.9 years |
| 20 kW | $2.29 | $32,004 | $60,235 | 8.7 years |
How to Save on Solar Panels
There are a lot of companies available in Durham, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: The brand of solar panel you'd like plays a role in which company you should choose, since different companies offer different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Durham, NC Solar Cost FAQs
How much does it cost to install solar panels in Durham?
The average cost of solar panels in Durham is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Durham?
A solar panel system isn't free in Durham, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Durham?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.