Solar Panel Cost Guide in Fayetteville, NC (2024 Update)
- Fayetteville Solar Installation Cost: $16,952
- 25-Year Savings: $20,312
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Fayetteville
See how much it might cost to install solar panels in Fayetteville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fayetteville, the typical cost of solar panels is 4 per watt.The average Fayetteville homeowner needs a 6.9-kilowatt system, which would cost about $16,952 with the federal tax credit, or $24,241 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you may vary based on the amount of energy your home requires and what company you want to go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar installer in Fayetteville for a quote for your home.
Solar savings over time in Fayetteville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,474 |
| 3 years | $-12,517 |
| 5 years | $-9,561 |
| 7 years | $-6,604 |
| 9 years | $-3,648 |
| 11 years | $-691 |
| 13 years | $2,265 |
| 15 years | $5,222 |
| 17 years | $8,178 |
| 19 years | $11,135 |
| 21 years | $14,091 |
| 23 years | $17,048 |
| 25 years | $20,004 |
Top Solar Installers in Fayetteville
Installing solar panels yourself can be a time-consuming project, which is why getting a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Fayetteville
Factors that Affect Solar Panel Costs in Fayetteville
There are a number of criteria that can determine your 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 panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better 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 $3,510.Some solar panel brands — like Maxeon from SunPower — cost more 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 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
If paying for solar panels out of pocket is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average.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 significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies in Fayetteville, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $13,000 | 13.5 years |
| 8 kW | $3.58 | $20,049 | $17,727 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,650 | 13.0 years |
| 12 kW | $3.44 | $28,894 | $27,770 | 12.7 years |
| 14 kW | $3.37 | $33,022 | $33,086 | 12.5 years |
| 16 kW | $3.30 | $36,953 | $38,599 | 12.2 years |
| 18 kW | $3.23 | $40,688 | $44,308 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $50,214 | 11.7 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Fayetteville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Fayetteville?
This is a tough question to answer exactly, because the cost depends on many factors. Generally 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Fayetteville?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Fayetteville?
On average, solar panels can last 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 amount 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.