Solar Panel Cost Guide in Graham, TX (2023 Update)
- Graham Solar Installation Cost: $13,915
- 25-Year Savings: $19,018
- Payback Period: 10.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Graham
We break down average solar pricing in Graham.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Graham, the average cost of a solar system is 2.69 per watt. Because a 7.4-kW system is needed to cover the energy needs of a typical home in Graham, the average price of going solar will be about $13,915 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Graham homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the large initial cost, the average Graham homeowner can save about $17,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar installer in Graham that can help you get a more accurate cost estimate for your home.
Solar savings over time in Graham
| Year | Return on Investment |
|---|---|
| 1 years | $-12,598 |
| 3 years | $-9,963 |
| 5 years | $-7,329 |
| 7 years | $-4,694 |
| 9 years | $-2,059 |
| 11 years | $575 |
| 13 years | $3,210 |
| 15 years | $5,845 |
| 17 years | $8,480 |
| 19 years | $11,114 |
| 21 years | $13,749 |
| 23 years | $16,384 |
| 25 years | $19,018 |
Top Solar Installers in Graham
Many homeowners decide to hire a solar installation company since figuring out how to install solar panels by yourself can be hard. Another upside of using a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Graham
Factors that Affect Solar Panel Costs in Graham
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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 $2,690. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Graham, and each can charge different amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.80 | $11,750 | $14,997 | 11.0 years |
| 8 kW | $2.74 | $15,365 | $20,297 | 10.8 years |
| 10 kW | $2.69 | $18,830 | $25,748 | 10.6 years |
| 12 kW | $2.64 | $22,144 | $31,350 | 10.3 years |
| 14 kW | $2.58 | $25,308 | $37,102 | 10.1 years |
| 16 kW | $2.53 | $28,320 | $43,004 | 9.9 years |
| 18 kW | $2.47 | $31,182 | $49,058 | 9.7 years |
| 20 kW | $2.42 | $33,894 | $55,262 | 9.5 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 selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable 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.
- Warranty: If you care about the endurance of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Graham, TX Solar Cost FAQs
What is the average cost of installing solar panels in Graham?
The average cost of solar panels in Graham is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like 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 Graham?
Leasing solar panels can be an appealing choice, because it commonly 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Graham?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Graham?
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 level 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.