Solar Panel Cost Guide in Graham, NC (2024 Update)
- Graham Solar Installation Cost: $17,105
- 25-Year Savings: $21,462
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Graham
Let’s take a look at the average cost of solar panels in Graham.
The average cost of a solar panel system in Graham is 4 per watt.The average solar panel system size in Graham is around 7.0 kilowatts, meaning a cost of about $17,105 for a solar installation, or $24,460 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Graham homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high upfront cost, the average Graham homeowner can save about $18,000 on their power bills over 20 years, which is one of the perks of solar.
To receive a free quote from a vetted solar installer in Graham, you can click the button below.
Solar savings over time in Graham
| Year | Return on Investment |
|---|---|
| 1 years | $-15,733 |
| 3 years | $-12,990 |
| 5 years | $-10,246 |
| 7 years | $-7,503 |
| 9 years | $-4,759 |
| 11 years | $-2,015 |
| 13 years | $728 |
| 15 years | $3,472 |
| 17 years | $6,215 |
| 19 years | $8,959 |
| 21 years | $11,702 |
| 23 years | $14,446 |
| 25 years | $17,189 |
Top Solar Installers in Graham
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar panel installer can make swapping over to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money over time.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Graham
Factors that Affect Solar Panel Costs in Graham
The cost of installing a solar system in Graham can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Graham, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option 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.Even though solar loans make switching to solar energy more accessible for Graham homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can play a part in determining the cost. Graham’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $13,833 | 13.1 years |
| 8 kW | $3.58 | $20,049 | $18,838 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $24,039 | 12.6 years |
| 12 kW | $3.44 | $28,894 | $29,436 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $35,030 | 12.1 years |
| 16 kW | $3.30 | $36,953 | $40,820 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,808 | 11.6 years |
| 20 kW | $3.16 | $44,226 | $52,991 | 11.4 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Solar Panel Brands: Different companies have various brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Graham, NC Solar Cost FAQs
How much does it cost to install solar panels in Graham?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Graham?
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 home 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 financial benefits from going solar.
How will installing solar panels impact my home value?
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 Graham is currently $259,787, so you could be looking at a value of about $10,651 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Graham is a fruitful investment.
How long do solar panels last in Graham?
On average, solar panels can last 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 larger amount 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.