Solar Panel Cost Guide in Graham, NC (2023 Update)
- Graham Solar Installation Cost: $12,375
- 25-Year Savings: $21,466
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Graham
Find out what the average cost of a solar system is in Graham.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Graham, the average cost of solar panels is 2.54 per watt. Using this figure, a typical 7.0-kW system would cost about $12,375 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Graham depending on a few factors, such as the type of solar panels you choose and the solar contractor you hire. 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.
You can click the button below to get connected with a vetted solar company in Graham for a quote for your home.
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
When switching to solar energy, many homeowners choose to hire a solar company since putting up a solar system yourself can be a time-consuming project. Another advantage of working with a solar installer is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you'd like to switch to solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers in Graham:
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
The cost of installing a solar system in Graham can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need 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. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Graham, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Graham homeowners opt to finance their solar panel systems to make going solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can influence how much you pay. Graham's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Long-standing companies likely have a good 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.
- Warranty: If you're worried about the endurance of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Graham?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Graham?
Even though 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 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.