Solar Panel Cost Guide in Durham, CT (2024 Update)
- Durham Solar Installation Cost: $11,907
- 25-Year Savings: $20,100
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Durham
We go over average solar pricing in Durham.
The national average cost of solar panels is $2.66 per watt, but in Durham it’s 4 per watt.The average solar panel system size in Durham is around 4.5 kilowatts, meaning a cost of about $11,907 for a solar installation, or $17,027 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy consumption and what company you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $24,000 over 20 years on energy bills.
To receive a free estimate from a vetted solar installer in Durham, you can click the button below.
Solar savings over time in Durham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,063 |
| 3 years | $-6,375 |
| 5 years | $-2,687 |
| 7 years | $1,001 |
| 9 years | $4,689 |
| 11 years | $8,377 |
| 13 years | $12,065 |
| 15 years | $15,753 |
| 17 years | $19,441 |
| 19 years | $23,129 |
| 21 years | $26,817 |
| 23 years | $30,505 |
| 25 years | $34,193 |
Top Solar Installers in Durham
Although you can install solar panels on your own, it requires extra effort and expertise. For that reason, most people choose to hire a solar panel installer. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $3,750 per kilowatt in Durham.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Durham average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Durham, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, 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 original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can play a role in determining how much it costs. Durham’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — 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 go with the company that has the products, warranties and services you’re looking for 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 | $3.90 | $16,380 | $21,968 | 10.7 years |
| 8 kW | $3.83 | $21,420 | $29,711 | 10.5 years |
| 10 kW | $3.75 | $26,250 | $37,663 | 10.3 years |
| 12 kW | $3.67 | $30,870 | $45,826 | 10.1 years |
| 14 kW | $3.60 | $35,280 | $54,199 | 9.9 years |
| 16 kW | $3.52 | $39,480 | $62,781 | 9.7 years |
| 18 kW | $3.45 | $43,470 | $71,574 | 9.4 years |
| 20 kW | $3.38 | $47,250 | $80,577 | 9.2 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Durham, CT Solar Cost FAQs
How much does it cost to install solar panels in Durham?
The average cost of solar panels in Durham is about $18,750 for a 5-kW system and $37,500 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 use.
Should I lease or buy solar panels in Durham?
Leasing solar panels can be an appealing choice, as it often 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.
How will having solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Durham is currently $443,637, so you can expect a value of about $18,189 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 install 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.