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.
While the national average of solar panels is $2.66 per watt, solar panels in Durham generally cost around 4.Using this figure, a typical 7.0-kW system would cost about $17,166 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may look different based on your specific situation and what company you choose to go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Durham can save about $18,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer 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
Trying to put up solar panels by yourself can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 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
See all of the solar companies in Durham
Factors that Affect Solar Panel Costs in Durham
The cost of installing a solar system in Durham can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over five to seven years on average.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out 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 install new cabinets, 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 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 | $3.65 | $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 large number of companies available in Durham, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Installation Process: When making the switch to solar, it’s crucial to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the completion timeline.
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 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
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 $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 things like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Durham?
You can’t get solar panels for free in Durham. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact my property value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Durham?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.