Solar Panel Cost Guide in Graham, NC (2023 Update)
- Graham Solar Installation Cost: $12,378
- 25-Year Savings: $21,462
- Payback Period: 9.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Graham
We go over average solar pricing in Graham.
In Graham, solar panels cost about 2.54 per watt on average. The average Graham homeowner needs a 7.0-kilowatt system, which would cost about $12,375 with the federal tax credit, or $17,696 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Graham homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $18,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in Graham that can help you get a more accurate cost estimate for your home.
Solar savings over time in Graham
| Year | Return on Investment |
|---|---|
| 1 years | $-12,265 |
| 3 years | $-12,040 |
| 5 years | $-11,814 |
| 7 years | $-11,588 |
| 9 years | $-11,363 |
| 11 years | $-11,137 |
| 13 years | $-10,912 |
| 15 years | $-10,686 |
| 17 years | $-10,460 |
| 19 years | $-10,235 |
| 21 years | $-10,009 |
| 23 years | $-9,784 |
| 25 years | $-9,558 |
Top Solar Installers in Graham
Many homeowners opt for a solar panel company since trying to put up solar panels yourself can be a labor-intensive endeavor. Some solar installers, particularly local ones, can help you take advantage of incentives in Graham, optimizing your ROI.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Graham
Factors that Affect Solar Panel Costs in Graham
There are many criteria 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 does the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Graham. The brand of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, 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. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Graham, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $2.64 | $11,095 | $18,070 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,378 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $30,829 | 9.1 years |
| 12 kW | $2.49 | $20,909 | $37,421 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $44,156 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $51,033 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $58,052 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,213 | 8.2 years |
How to Save on Solar Panels
The solar company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: If you care about the durability of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
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 Graham, NC Solar Cost FAQs
How much does it cost to install solar panels in Graham?
The average cost of solar panels in Graham 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Graham?
You can't get solar panels for free in Graham. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Graham, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.