Solar Panel Cost Guide in Durham, NH (2023 Update)
- Durham Solar Installation Cost: $10,004
- 25-Year Savings: $16,796
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Durham
Let's take a look at the average cost of solar in Durham.
The average cost of a solar panel system in Durham is 2.91 per watt. Because a 4.9-kW system is needed to cover the energy usage of a typical home in Durham, the average price of going solar will be about $10,002 after claiming the federal solar tax credit of 30%.
How much you pay can go higher or lower than the average in Durham depending on a few factors, such as the brand of solar panels you choose and the solar company you hire. Even with the large initial cost, the average Durham homeowner can save about $21,000 on their power bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Durham
| Year | Return on Investment |
|---|---|
| 1 years | $-8,597 |
| 3 years | $-5,784 |
| 5 years | $-2,970 |
| 7 years | $-156 |
| 9 years | $2,657 |
| 11 years | $5,471 |
| 13 years | $8,284 |
| 15 years | $11,098 |
| 17 years | $13,912 |
| 19 years | $16,725 |
| 21 years | $19,539 |
| 23 years | $22,353 |
| 25 years | $25,166 |
Top Solar Installers in Durham
Installing solar panels yourself can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for your family.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Durham
Factors that Affect Solar Panel Costs in Durham
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Durham: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,910. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Durham, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Durham, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Durham have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.03 | $12,711 | $20,030 | 9.7 years |
| 8 kW | $2.97 | $16,622 | $27,033 | 9.5 years |
| 10 kW | $2.91 | $20,370 | $34,198 | 9.3 years |
| 12 kW | $2.85 | $23,955 | $41,527 | 9.1 years |
| 14 kW | $2.79 | $27,377 | $49,018 | 9.0 years |
| 16 kW | $2.74 | $30,636 | $56,673 | 8.8 years |
| 18 kW | $2.68 | $33,733 | $64,490 | 8.6 years |
| 20 kW | $2.62 | $36,666 | $72,470 | 8.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Installation Process: When making the switch to solar power, it's crucial to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the completion timeline.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Durham, NH Solar Cost FAQs
How much does it cost to install solar panels in Durham?
The average cost of solar panels in Durham is about $14,550 for a 5-kW system and $29,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Durham?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does Durham have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 get between 20 and 35 panels to account for 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.