Solar Panel Cost Guide in Graham, NC (Sep 2022)

  • Graham Solar Installation Cost: $12,375
  • 25-Year Savings: $21,466
  • Payback Period: 9.1 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Graham

Find out what the average cost of a solar system is in Graham.

In Graham, solar panels cost about $3 per watt on average. Using this figure, a typical 7.0 would cost about $12,375 before the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more. Many homeowners find adopting solar power is a solid investment. The average homeowner in Graham can save about $18,000 on their power bills over 20 years.

Click the button below to get connected to a top solar company in your area for a customized quote.

Solar savings over time in Graham

Year Return on Investment
1 years $-11,021
3 years $-8,314
5 years $-5,607
7 years $-2,900
9 years $-192
11 years $2,515
13 years $5,222
15 years $7,929
17 years $10,637
19 years $13,344
21 years $16,051
23 years $18,758
25 years $21,466

Top Solar Installers in Graham

Many homeowners decide to use a solar installation company since installing solar panels by yourself can be hard. Also, if you'd like to maximize your investment in solar, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.

Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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

The cost of installing a solar system in Graham can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install 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 a solar system in cash is too expensive, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

A final factor to consider when trying to figure out the cost of solar for your home or business in Graham is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different costs. 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 with an above-average cost. It's best to do some research and find a company that provides the products, warranties and services you want and also is 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 $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

Solar Incentives in Graham

Name Duke Energy - NC Solar Rebate Program
Website Visit here
More Info Click here

Name Property Tax Abatement for Solar Electric Systems
More Info Click here

Name Active Solar Heating and Cooling Systems Exemption
More Info Click here

Name Duke Energy Progress - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name EnergyUnited (Electric) Residential Energy Efficiency Program
Website Visit here
More Info Click here

Name Piedmont EMC - Residential Solar and Energy Efficiency Loan Program
Incentive Amount $10,000
Website Visit here
More Info Click here

Name Duke Energy (Electric) - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name NC GreenPower Production Incentive
Website Visit here
More Info Click here

Name Local Option - Financing Program for Renewable Energy and Energy Efficiency
Incentive Amount
More Info Click here

Name Local Option - Green Building Incentives
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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 select the right company for you, here are some tips to keep in mind:

  • Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
  • Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Graham, NC Solar Cost FAQs

What is the average cost of installing solar panels in Graham?

This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Graham?

Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.

Is going solar worth it?

Solar panels can be a great investment for a majority of 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 reasonably 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 usage and the amount of sunlight your roof gets. You can 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 cover 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.

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