Solar Panel Cost Guide in Fairview, NC (2023 Update)
- Fairview Solar Installation Cost: $12,055
- 25-Year Savings: $20,828
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fairview
Let's have a look at the average cost of solar panels in Fairview.
While the national average of solar panels is $2.66 per watt, solar panels in Fairview generally cost about 2.54. To cover the typical energy usage of the average home in Fairview, most homeowners require a 6.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,055, or $17,239 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you want to go with. Many homeowners find going solar is a sound investment. The average homeowner in Fairview can save about $18,000 on their power bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Fairview
| Year | Return on Investment |
|---|---|
| 1 years | $-10,740 |
| 3 years | $-8,109 |
| 5 years | $-5,478 |
| 7 years | $-2,848 |
| 9 years | $-217 |
| 11 years | $2,414 |
| 13 years | $5,044 |
| 15 years | $7,675 |
| 17 years | $10,305 |
| 19 years | $12,936 |
| 21 years | $15,567 |
| 23 years | $18,197 |
| 25 years | $20,828 |
Top Solar Installers in Fairview
When going solar, many homeowners prefer to hire a solar installer since putting up a solar system yourself can be a challenging project. Some solar companies, especially local ones, can help you better understand incentives in Fairview, optimizing your ROI.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers in Fairview:
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 Fairview
Factors that Affect Solar Panel Costs in Fairview
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Fairview: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,540. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Fairview homeowners decide to finance their solar panel systems to make going solar more affordable. While solar loans make adopting solar energy more accessible for Fairview homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Fairview, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Some companies 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 choose a 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 | $2.64 | $11,095 | $18,007 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,294 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $30,723 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,294 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $44,007 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,863 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,861 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,001 | 8.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions 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
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Fairview, NC Solar Cost FAQs
What is the average cost of installing solar panels in Fairview?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Fairview?
Leasing solar panels can be an appealing choice, as it typically 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 way to go if you want to get the most savings.
Is it worth going solar in Fairview?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to account for 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.