Solar Panel Cost Guide in Fairview, NC (2024 Update)
- Fairview Solar Installation Cost: $16,657
- 25-Year Savings: $20,829
- Payback Period: 12.7 Years
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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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fairview, the typical cost of solar panels is 4 per watt.The average Fairview homeowner needs a 6.8-kilowatt system, which would cost about $16,657 with the federal tax credit, or $23,820 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy usage and what installation company you go with.Despite the significant upfront cost, the average Fairview homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Fairview
| Year | Return on Investment |
|---|---|
| 1 years | $-15,335 |
| 3 years | $-12,691 |
| 5 years | $-10,047 |
| 7 years | $-7,403 |
| 9 years | $-4,758 |
| 11 years | $-2,114 |
| 13 years | $530 |
| 15 years | $3,174 |
| 17 years | $5,819 |
| 19 years | $8,463 |
| 21 years | $11,107 |
| 23 years | $13,751 |
| 25 years | $16,396 |
Top Solar Installers in Fairview
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar company can make switching to solar power much easier. Plus, if you’re unsure what kind of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Fairview, the EcoWatch team has compiled a list of our top suggestions here:
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 Fairview
Factors that Affect Solar Panel Costs in Fairview
For many Fairview homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Fairview, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Fairview, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,510 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Fairview offer solar loans, which reduce your upfront costs of installing solar.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact the cost. Fairview’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $13,770 | 13.2 years |
| 8 kW | $3.58 | $20,049 | $18,753 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $23,933 | 12.7 years |
| 12 kW | $3.44 | $28,894 | $29,309 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $34,881 | 12.2 years |
| 16 kW | $3.30 | $36,953 | $40,651 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,617 | 11.7 years |
| 20 kW | $3.16 | $44,226 | $52,779 | 11.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: If you’re worried about the durability of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 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. 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 level 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.