Durham Solar Panels: Cost and Local Incentives

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Durham Solar Panels

Investing in solar panels on your home in Durham, North Carolina, is a great way to increase your energy independence and save money while helping the environment. North Carolina ranks among the top five states in the U.S. for solar installations, making it a great idea to invest in the rapidly growing industry. Durham residents have plenty of options when it comes to solar panel costs, installers, and financial incentives. SaveOnEnergy can help you understand the process and get started on your solar journey.

Cost of solar panels in Durham

The cost of solar panels in Durham is influenced by several factors, including system size, installer, and panel type. As far as residential systems go, the U.S. median price per watt is $3.82, according to the Lawrence Berkeley National Laboratory’s Tracking the Sun report.

North Carolina has a higher median price per watt of $4.63 for residential systems. That could mean a higher overall system cost, but the state has a wide range of medians, from $3.11 to $5.77 per watt, depending on the size. 

How much do solar panels cost in Durham?

A good way to estimate the installation cost for your home solar system is to examine what size array you’ll need. Individual factors like roof size and the amount of sunlight, can affect how large your solar system should be. Given that North Carolina’s median system size is 7 kilowatts (kW), you might pay about $32,613 for the total system before any tax credits, rebates, or other incentives.  

Factoring in the 30% federal tax credit and North Carolina’s average monthly electric bill of $123.23, it would take about 15.4 years to pay back the initial cost of a median-priced solar array. 

You could also potentially save around $6,746 after 20 years with a solar array at the state median price. However, energy costs tend to increase over time, so you could stand to save more.

Average solar panel cost by system size in Durham

At the time of writing, the U.S. national average cost per watt is at $3.82. North Carolina’s costs include:

To help determine the system size you need to figure out how much electricity you use over the course of a year. Your electric bill lists this information in kilowatt-hours (kWh). If you don’t know these specific numbers, you can estimate using our energy consumption calculator.

For example, say your usage was in line with North Carolina’s monthly average of 1,041 kWh. The solar array would need to produce at least that amount of electricity or more each month throughout the year to cover 100% of your consumption.

The 30% federal tax credit can help make solar more affordable. If you were to get a 7 kW system at $4.63 per watt, the system would cost about $32,613. The 30% federal credit would bring your net price down to $22,829.

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Incentives for solar panels in Durham

Durham residents can access various incentives to make solar more affordable. These programs can help you save thousands.

These are just a few of the available incentives in Durham. Contact your utility for new or updated programs.  

Solar companies in Durham

If solar could work for you and your home, SaveOnEnergy can help you find solar installers near you. Explore our guide on solar panel installation to learn more about how the process works. You can also call the number on your screen or fill out the form on this page to connect with an installer.   

Is going solar in Durham right for you?

Residents of Durham have a variety of solar payment and access options. We’ll explore how installing solar panels can help renters, homeowners, and whole communities around Durham reduce their carbon footprint and achieve energy independence.   

Solar for renters

The landlord owns the property, so it would be up to them if they wanted to install solar.  However, if you want to access solar on your own, you can look into smaller options like portable patio arrays. You could also consider small devices, like solar phone chargers.  

Solar for homeowners

Homeowners have a wide variety of financing options. You could enter a lease or Solar Power Purchase Agreement (PPA), both of which involve a third-party developer installing and managing panels on your property. However, purchasing your system will help you obtain greater long-term savings. It can also increase your home’s property value.

Community solar

Anyone who finds the upfront costs of installing solar panels to be too steep can look into community solar. Community solar allows you to subscribe to an off-site array that directly powers their homes. Community solar is becoming a more popular option since it can be a much more affordable way to access solar without large upfront costs. 

Community solar may also be a great option for homes less suitable for solar. For instance, if a home has a heavily shaded or older roof that won’t support the weight of the solar panels, solar might not be a feasible option.