Solar Panel Cost Guide in Durham, NH (2024 Update)
- Durham Solar Installation Cost: $14,508
- 25-Year Savings: $16,796
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Durham
Find out what the average cost of a solar system is in Durham.
The average cost of solar panels in Durham is 4 per watt.The average Durham homeowner needs a 4.9-kilowatt system, which would cost about $14,508 with the federal tax credit, or $20,746 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want, your solar contractor and more.But, once you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $21,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Durham
| Year | Return on Investment |
|---|---|
| 1 years | $-13,101 |
| 3 years | $-10,287 |
| 5 years | $-7,474 |
| 7 years | $-4,660 |
| 9 years | $-1,846 |
| 11 years | $967 |
| 13 years | $3,781 |
| 15 years | $6,595 |
| 17 years | $9,408 |
| 19 years | $12,222 |
| 21 years | $15,035 |
| 23 years | $17,849 |
| 25 years | $20,663 |
Top Solar Installers in Durham
Trying to install solar panels by yourself can be a dangerous task, which is why hiring a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy consumption, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
There are a number of criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $4,220 per kilowatt in Durham.The kind of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Durham to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time because of interest.Though solar loans make adopting solar energy more accessible for Durham homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies in Durham, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.39 | $18,433 | $14,308 | 14.1 years |
| 8 kW | $4.30 | $24,105 | $19,550 | 13.8 years |
| 10 kW | $4.22 | $29,540 | $25,028 | 13.5 years |
| 12 kW | $4.14 | $34,739 | $30,743 | 13.3 years |
| 14 kW | $4.05 | $39,702 | $36,694 | 13.0 years |
| 16 kW | $3.97 | $44,428 | $42,881 | 12.7 years |
| 18 kW | $3.88 | $48,918 | $49,304 | 12.5 years |
| 20 kW | $3.80 | $53,172 | $55,964 | 12.2 years |
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 find the right company for you, here are some tips to keep in mind:
- Contract: Review the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
What is the average cost of installing solar panels in Durham?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $21,100 for a 5-kW system and $42,200 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-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.
Should I lease or buy solar panels in Durham?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Durham is currently $626,979, which means you can look forward to a value of about $25,706 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Durham is a worthwhile investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 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.