Solar Panels Cost 8.7k-17k in Graham, NC | November, 2024

Solar Panels Cost $8.7k-$17k in Graham, NC | November, 2024

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How much do solar panels cost in Graham, NC in 2024?

The typical price per watt of solar panel systems in Graham, NC in November, 2024 is $3.14/W.

This means that, solar panel installations will cost you approximately, on average, $3,140 per 1 kW (or 1000 watts) of generation capacity. A 5 kW solar panel install in Graham will generally cost you $10,990 after applying the 30% federal tax credit. To fulfill your energy needs, you could require more than a 5kW system.

On the left-hand side, pick your county to determine the average roof size and the average maximum capacity for solar panels on homes within your area. Find below a full analysis of the {price|costs, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Graham: $10,990US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Graham: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Graham: $16,494US Average: $16,169

Solar Potential in Graham

Estimated system size and solar electricity production per median viable roof in
Graham.

Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 12kkWh AC per yr.

Electricity Costs in Graham, NC & What that Means for Your Solar Panel Pricing

Graham residents typically have an average monthly electric bill of $134.14 per month, with a typical consumption of 991 kWh. Smaller dwellings, such as townhouses and condos, are also encompassed in the numbers cited in the previous sentence.

The average electricity rate in Graham, NC in November 2024 is 13.53¢ per kWh.

In Graham, a typical electricity user's electricity requirements should be fully accounted for by a solar panel system with a production capacity of 8 kW or more. Upfront, an 8 kWsolar system costs around $25,120, with the 30% tax credit, the price drops to $17,584.

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Average solar panel costs by system size in Graham

On the left side below, the cost breakdown for multiple sizes of the solar panel systems set up in Graham is displayed. Of course, with a bigger solar system, you will have a larger initial investment, but the rewards are higher electricity savings and more substantial income tax credits.

The solar panel cost and benefit breakdown, displayed in the calculator below and to the right, is based on an average electric bill of $134.14 in Graham. Adjust the $134.14 to fit your average bill payment for more precise outcomes.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $842 a year
Est. Price
$8,792
Savings from a 4kWthis system
  • Est. yearly production 6,016 kWh
  • Est. monthly savings $70
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.95 tons a year
  • Equivalent to planting 90 trees a year
  • Equivalent to driving 4,829 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,053 a year
Est. Price
$10,990
Savings from a 5kWthis system
  • Est. yearly production 7,520 kWh
  • Est. monthly savings $88
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 2.44 tons a year
  • Equivalent to planting 112 trees a year
  • Equivalent to driving 6,036 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,263 a year
Est. Price
$13,188
Savings from a 6kWthis system
  • Est. yearly production 9,024 kWh
  • Est. monthly savings $105
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.93 tons a year
  • Equivalent to planting 134 trees a year
  • Equivalent to driving 7,243 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,474 a year
Est. Price
$15,386
Savings from a 7kWthis system
  • Est. yearly production 10,528 kWh
  • Est. monthly savings $123
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.41 tons a year
  • Equivalent to planting 157 trees a year
  • Equivalent to driving 8,451 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,684 a year
Est. Price
$17,584
Savings from a 8kWthis system
  • Est. yearly production 12,032 kWh
  • Est. monthly savings $134
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.72 tons a year
  • Equivalent to planting 171 trees a year
  • Equivalent to driving 9,219 mi less a year

Graham Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant is designed to assist rural agricultural enterprises and small businesses by covering 80% to 100% of the costs associated with solar or wind turbine installations. If you think you might be in this category, we suggest verifying your qualification with our REAP Grant eligibility tool.

For residential solar installations, the majority of homeowners are eligible for a 30% federal income tax credit, which makes solar energy a feasible choice in many parts of the country. State and local governments offer various programs to promote the switch to solar energy.

Residents of North Carolina can access 10 solar rebate and incentive initiatives from a variety of utilities and governmental organizations.

Solar incentives in NC

Duke Energy - NC Solar Rebate Program

Value:Up to $50,000

Any Duke Energy Carolinas/Progress customer who installs a new solar photovoltaic system may be entitled to a rebate. The rebate amount is based on the rated capacity of the system. The rebate program's annual budget covers up to 10 MW of solar energy. 5,000 kW of the total budget is reserved for residential customers, while 2,500 kW is reserved for nonprofits. Additional information is available from the Duke Energy website.

Lumbee River EMC - Residential Weatherization Loan Program

Value:Up to $17,000

Residential customers of the Lumbee River Electric Membership Corporation may be entitled to special financing on energy efficiency improvement projects. Available loan offers and eligible projects will vary from time to time. Currently, financing may be obtained for ductwork, windows, water heating, geothermal pumps, and insulation/weatherization. The maximum available principal is $17,000 at market-rate interest. Loans will be secured either with a cosigner or using a deed of trust as collateral. Standard credit checks apply. Additional information is available from the LREMC website.

Piedmont EMC - Residential Solar and Energy Efficiency Loan Program

Value:Varies

Residential and business Piedmont Electric Membership Corporation customers may be eligible for special financing on new solar water heaters or photovoltaic systems. Loans may be available for other energy efficiency improvements. The maximum available principal for a single loan is $10,000 at 5% interest, to be repaid over seven years. Additional information and a directory of banking and lending partners are available from PEMC's website.

PSNC Energy (Gas) - Green Building Rate Discount

Value:Varies

PSNC offers special incentive rates for home and business customers whose property meets sustainable construction standards. Commercial facilities that have official LEED certification from the US Green Building Council and which are currently charged from Rate Schedule 125 will have a standing discount applied to their bills. To qualify, the property owner should submit a statement from the building's engineer attesting to low energy usage. Homes that have ENERGY STAR certification and which are currently using Rate Schedule 101 can switch to Schedule 102 rates that have the discount already applied. To qualify, homeowners should submit a copy of their ENERGY STAR certificate. Additional information is available from the PSNC website.

Haywood EMC - Residential Heat Pump and Weatherization Loan Program

Value:Varies

Homeowners in the Haywood EMC service area may be entitled to special financing on energy efficiency improvements. Eligible projects for a loan will vary from time to time. Currently, loans may fund insulation/weatherization, windows, central/room HVAC, generators, water heaters, heat pumps, ENERGY STAR certified appliances, and new solar PV/HVAC/water heaters. The maximum available principal is $35,000 at variable APR. As of 2021, interest is 3.90% on a 120-month repayment plan. Standard credit checks apply. Additional information is available from the HEMC website.

South River EMC - Solar Water Heating Rebate Program

Value:Varies

Residential and business customers of the South River Electric Membership Corporation may be entitled to rebates on new solar water heaters. The rebate amount will depend on the size and rated capacity of solar collectors. To qualify, both the solar panels and the heating module should meet Solar Rating and Certification Corporation (SRCC) standards. The system should be interconnected to the grid and have safety controls to prevent both overheating and freezing. Once a customer purchases and installs their system, they have 90 days to schedule a final utility inspection and thus claim their rebate. Additional information is available from the SREMC website.

Renewable Energy and Energy Efficiency Portfolio Standard

Value:Varies

North Carolina has both a renewable portfolio standard and an energy efficiency portfolio standard; together, they are referred to as "REPS". As of 2021, standard benchmarks require at least 12.5% of the state's retail energy to be generated from renewable sources. At least 60% of standard investment must be through new renewable energy; the remainder can be used for energy efficiency projects. Carve-outs require renewable investment to include a required proportion of solar and poultry/swine waste technologies. Compliance is measured through a Renewable Energy Credit (REC) system pegging a fixed amount of electricity to a variable dollar value. To meet their portion of the standard, utilities must either purchase credits from customers through net metering or generate them using their own renewable energy facilities. Credits expire after three years. Additional information is available from the North Carolina Utilities Commission website.

Blue Ridge EMC - Net Metering

Value:Varies

Residential customers of the Blue Ridge Electric Membership Corporation may be eligible for solar or wind net metering. Hydroelectric net metering may be available for systems rated below 25 kW. Parties to a net metering contract will be compensated for their net excess generation (NEG) at the full retail rate; however, they may be subject to higher facilities charges and minimum bills. Additional information is available from the BREMC website.

Four-County EMC - Residential Energy Efficiency Rebate Program

Value:Varies

Residential customers of the Four-County Electric Membership Corporation may be entitled to rebates on large appliances. Available rebate offers will vary from time to time. Currently, a flat $50 incentive may be claimed for new fridge/freezers, washer/dryers, dishwashers, and heat pumps at or over 16 SEER. It does not matter whether the appliance is completely new or if it will replace an older unit. To apply, proof of purchase is required. Additional information is available from the FCEMC website.

NC GreenPower Production Incentive

Value:Varies

NOTE: Applications are no longer accepted for small solar devices. NC GreenPower is a public incentive program administered by the state government in partnership with private utilities. The program effectively creates a large-scale power purchasing agreement (PPA) for owners of solar, wind, biomass, and hydroelectric systems not participating in a net metering contract. Participants will receive compensation for the energy they produce and export to the grid at a fixed per-kilowatt rate. Rate schedules depend on what technology is used to generate the energy. Additional information is available through the NC GreenPower website.

Are solar panels worth it in North Carolina?

If you're planning to reside in your home past the solar system's payback period, solar panels are a smart decision in Graham. A 5 kW solar system in Graham, NC might save you an average of $21,203.6 over 20 years, with the break even point generally being 7 years.

The cost of not having solar panels in Graham, NC

In addition to missing out on the aforementioned savings, not having solar panels or a separate backup energy source results in complete dependence on your electric utility for electricity. Recent news coverage has demonstrated that complete reliance on your utility company is not always ideal.

Generally, customers in Graham face around 1.26 outages. Outages typically last for an average of 158.4 minutes. Major occurrences like overloaded power grids, tornadoes or planned maintenance can lead to a significant rise in these time frames.

A solar energy system, regardless of a backup battery, could lessen the effects of any future power interruptions you might encounter.

Power Outages

Currently, 0 customers are being tracked in Alamance County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Graham, NC?

Your Energy Needs - While the upfront cost is higher, the price per watt drops with larger solar panel systems. Individuals often realize that installing a solar system to fully cover their electric bill is a beneficial decision, resulting in the most savings.

Make & Model - Just like many products, solar panels are offered in a variety of makes and models. The system preferences of your chosen installer can make it essential to choose a highly rated company. Selecting superior quality materials generally provides a more favorable long-term experience for the buyer.

Solar Panel Type - It's understandable that monocrystalline panels are now the standard in the industry. Although the cost is more, they yield more energy. Most installers use these types of panels.

Your Property - Each property and home presents unique challenges. Sloping terrain, trees, or other impediments may complicate the installation process. By using satellite images, solar installers these days can evaluate your home and incorporate these elements into the first cost estimate.

Labor Rates - The costs associated with the different wages given by companies to their employees are borne by the consumers. Companies paying more to their employees typically get higher reviews for their work and customer service.

Permitting & Interconnection - Depending on the location, permitting and utility interconnection fees will influence your installation price. Quality local installers will integrate these numbers into your preliminary quotes to prevent any surprises.

See what solar panels cost in other NC cities

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Who are the best solar installers in Graham?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Blue Ridge Sun

Max Meadows CDP, VA(276) 637-0117

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Eagle Solar and Light

Birmingham, AL(205) 202-2208

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Reparation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Auditing of energy requirements for independent energy generation.
  • Installation of solar arrays.

8MSolar

Wake Forest, NC(919) 948-6474

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Yes Solar Solutions

Cary, NC(919) 925-4707

Services

  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Powur PBC

Del Mar, CA(866) 467-6987

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Core Development Group

(201) 825-2195

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Renu Energy Solutions

Charlotte, NC(704) 525-6767

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of batteries.
  • Expertise in consulting on advantageous financing for solar.

IonSOLAR

Provo, UT(888) 781-7074

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

SolFarm Solar Co.

(828) 332-3003

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Solar Alliance Southeast

Knoxville, TN(865) 309-4674

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Go Solar Power

West Palm Beach, FL(877) 558-1882

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Solar Energy World

Laurel, MD(866) 856-4580

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Entero Energy

Austin, TX(512) 551-0742

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Cape Fear Solar Systems

Wilmington, NC(910) 409-5533

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Monitoring of independent energy generation.
  • Reparation of batteries.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

SunVolt Electric

Boone, NC(828) 773-2008

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

PE Solar

Tempe, AZ(480) 264-0690

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

NC Solar Now

Raleigh, NC(919) 833-9096

Services

  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Consulting on all things solar related.

R&C Construction Solar

Greer, SC(888) 748-9165

Services

  • Reparation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Precision Renewables

Snyderville CDP, UT(435) 602-4120

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Atomic Solar Energy

Burnsville, NC(866) 704-1187

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Graham, NC Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Graham, NC as of November, 2024 is $3.14/W. The approximate cost of a 5 kW solar panel system in Graham, NC, after deducting federal tax credits, is $10,990.
  • Various utility providers and government organizations in North Carolina are offering 10 rebates and incentives at this time. In addition, the 30% federal income tax credit is available to almost everyone.
  • Cash payments result in the greatest savings, but numerous financing options for solar panels that are financially advantageous are now available. Financing options are frequently available through installers and will be included in your initial quotes.
  • Yes, the average 5 kW solar panel payback time in Graham, NC is 7 years, with expected savings of $21,203.6 on electricity over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-11-01