Solar Panel Cost Guide in Fayetteville, NC (2023 Update)
- Fayetteville Solar Installation Cost: $12,267
- 25-Year Savings: $20,312
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fayetteville
Let's have a look at the average cost of solar panels in Fayetteville.
In Fayetteville, solar panels cost about 2.54 per watt on average. To cover the typical energy needs of the average home in Fayetteville, most homeowners require a 6.9-kilowatt system. Using the figure above, a solar installation costs about $12,268, or $17,543 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Fayetteville homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar power is worth paying. On average Fayetteville homeowners see about $18,000 in savings on energy bills over 20 years.
To receive a free quote from a pre-vetted solar company in Fayetteville, you can click the button below.
Solar savings over time in Fayetteville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,159 |
| 3 years | $-11,941 |
| 5 years | $-11,724 |
| 7 years | $-11,507 |
| 9 years | $-11,290 |
| 11 years | $-11,073 |
| 13 years | $-10,855 |
| 15 years | $-10,638 |
| 17 years | $-10,421 |
| 19 years | $-10,204 |
| 21 years | $-9,987 |
| 23 years | $-9,769 |
| 25 years | $-9,552 |
Top Solar Installers in Fayetteville
Although you can install solar panels by yourself, it involves extra effort and expertise. That's one of the reasons most homeowners choose to hire a solar panel installer. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by offering warranties and repairs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Fayetteville
Factors that Affect Solar Panel Costs in Fayetteville
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Fayetteville: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Fayetteville, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. 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 cut back your upfront costs and allow you to pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can impact the cost. Fayetteville's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally 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 add-on services like electric car 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 | $2.64 | $11,095 | $17,237 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,267 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,440 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,755 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,212 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $48,811 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $55,552 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $62,436 | 8.5 years |
How to Save on Solar Panels
There are many companies available in Fayetteville, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The model of solar panel you need to install plays a role in which installer you should opt for, since different companies have access to different panels.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 Fayetteville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Fayetteville?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Fayetteville?
You can't get solar panels for free in Fayetteville. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Fayetteville?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 cover 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.