Solar Panel Cost Guide in Grafton, ND (2024 Update)
- Grafton Solar Installation Cost: $45,124
- 25-Year Savings: $44,504
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Grafton
Let’s have a look at the average cost of solar panels in Grafton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grafton, the average cost of solar panels is 4 per watt.Using this figure, a typical 18.0-kW system would cost about $45,124 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Grafton 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.With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Grafton find installing solar panels can pay off big.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Grafton
| Year | Return on Investment |
|---|---|
| 1 years | $-43,656 |
| 3 years | $-40,720 |
| 5 years | $-37,784 |
| 7 years | $-34,847 |
| 9 years | $-31,911 |
| 11 years | $-28,975 |
| 13 years | $-26,038 |
| 15 years | $-23,102 |
| 17 years | $-20,166 |
| 19 years | $-17,229 |
| 21 years | $-14,293 |
| 23 years | $-11,357 |
| 25 years | $-8,420 |
Top Solar Installers in Grafton
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar panel installer can make swapping over to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Grafton
Factors that Affect Solar Panel Costs in Grafton
For many Grafton homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Grafton, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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 $3,580.The type of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Grafton are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.72 | $15,637 | $9,356 | 15.6 years |
| 8 kW | $3.65 | $20,449 | $12,875 | 15.3 years |
| 10 kW | $3.58 | $25,060 | $16,595 | 15.0 years |
| 12 kW | $3.51 | $29,471 | $20,516 | 14.7 years |
| 14 kW | $3.44 | $33,681 | $24,637 | 14.4 years |
| 16 kW | $3.37 | $37,690 | $28,958 | 14.1 years |
| 18 kW | $3.29 | $41,499 | $33,480 | 13.8 years |
| 20 kW | $3.22 | $45,108 | $38,203 | 13.5 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Installation Process: When making the switch to solar energy, it’s crucial to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Grafton, ND Solar Cost FAQs
How much does it cost to install solar panels in Grafton?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. It will be more expensive 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 expensive solar panels.
Should I lease or buy solar panels in Grafton?
Leasing solar panels can be an appealing choice, as it usually 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 get the most savings.
Can you sell solar power back to the grid in Grafton?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 higher amount 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.