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.
In Durham, solar panels cost about 4 per watt on average.The average solar panel system size in Durham is around 4.9 kilowatts, meaning a cost of about $14,508 for a solar installation, or $20,746 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar system you choose, your solar contractor and more.With average savings of about $21,000 on power bills over 20 years, many homeowners in Durham find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Durham that can help you get a more accurate cost estimate for your home.
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
Although you can install solar panels by yourself, it involves extra energy and know-how. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. Also, if you’d like to maximize your investment in solar energy, using a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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
Though the average cost of a solar system in Durham is $14,508, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar 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 you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Durham homeowners choose to finance their solar panel systems to make paying for solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can affect your pricing. Durham’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better 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 discount 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
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies have different brands and types of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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?
The average cost of solar panels in Durham is about $21,100 for a 5-kW system and $42,200 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Durham?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your 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, so you could be looking at 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 fruitful investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.