Solar Panel Cost Guide in Fayetteville, NC (Jan 2023)
- Fayetteville Solar Installation Cost: $12,268
- 25-Year Savings: $20,311
- Payback Period: 9.4 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Fayetteville
Let's take a look at the average cost of solar in Fayetteville.
In Fayetteville, solar panels cost about $3 per watt on average. The average Fayetteville homeowner needs a 6.9-kilowatt system, which would cost about $12,268, or $9,078 after the federal solar tax credit of 30% is applied.
These figures are only estimates, and how much solar costs for you may differ based on the amount of energy your home requires and what company you choose to go with. Even with the significant initial cost, the average Fayetteville homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Fayetteville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,965 |
| 3 years | $-8,359 |
| 5 years | $-5,752 |
| 7 years | $-3,146 |
| 9 years | $-540 |
| 11 years | $2,067 |
| 13 years | $4,673 |
| 15 years | $7,279 |
| 17 years | $9,886 |
| 19 years | $12,492 |
| 21 years | $15,098 |
| 23 years | $17,705 |
| 25 years | $20,311 |
Top Solar Installers in Fayetteville
Trying to put up solar panels yourself can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
If you're looking for a solar installer in Fayetteville, the EcoWatch team has put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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 — cost more upfront but also tend to offer higher efficiency. In a city like Fayetteville, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Fayetteville provide solar loans, which reduce the initial cost of installing solar panels. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Fayetteville, you'll have lots of options to choose from, but each comes at different price points for labor and 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 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 | $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
The company that does your system installation will affect the warranties and brands you have access to, 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:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: When looking 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.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
The average cost of solar panels in Fayetteville is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Fayetteville?
Solar panels aren't free in Fayetteville, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fayetteville is currently $134,529, so you can expect a value of about $5,516 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Fayetteville is a worthwhile investment.
How long do solar panels last in Fayetteville?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.