Solar Panel Cost Guide in Fargo, ND (2023 Update)
- Fargo Solar Installation Cost: $44,291
- 25-Year Savings: $40,825
- Payback Period: 15.6 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Fargo
We go over average solar pricing in Fargo.
In Fargo, solar panels cost about 2.42 per watt on average.The average Fargo homeowner needs a 17.7-kilowatt system, which would cost about $29,933 with the federal tax credit, or $42,804 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Fargo homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Fargo can save around $15,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Fargo for a quote for your home.
Solar savings over time in Fargo
| Year | Return on Investment |
|---|---|
| 1 years | $-42,989 |
| 3 years | $-40,384 |
| 5 years | $-37,779 |
| 7 years | $-35,174 |
| 9 years | $-32,569 |
| 11 years | $-29,965 |
| 13 years | $-27,360 |
| 15 years | $-24,755 |
| 17 years | $-22,150 |
| 19 years | $-19,545 |
| 21 years | $-16,941 |
| 23 years | $-14,336 |
| 25 years | $-11,731 |
Top Solar Installers in Fargo
Many homeowners opt for a solar panel installer since installing solar panels by yourself can be hard. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Fargo
Factors that Affect Solar Panel Costs in Fargo
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Fargo: 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 cost of solar panels 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 higher 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 $2,420.There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over five to seven years on average.It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Fargo, and each can charge varying amounts for labor and equipment.Companies that 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 cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want 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 | $3.72 | $15,637 | $8,386 | 16.3 years |
| 8 kW | $3.65 | $20,449 | $11,582 | 16.0 years |
| 10 kW | $3.58 | $25,060 | $14,979 | 15.6 years |
| 12 kW | $3.51 | $29,471 | $18,576 | 15.3 years |
| 14 kW | $3.44 | $33,681 | $22,373 | 15.0 years |
| 16 kW | $3.37 | $37,690 | $26,372 | 14.7 years |
| 18 kW | $3.29 | $41,499 | $30,570 | 14.4 years |
| 20 kW | $3.22 | $45,108 | $34,969 | 14.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Before signing a contract with a solar installer, make sure to look it over completely 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 what services you can expect from them.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Fargo, ND Solar Cost FAQs
What is the average cost of installing solar panels in Fargo?
The average cost of solar panels in Fargo is about $12,100 for a 5-kW system and $24,200 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Fargo?
Leasing solar panels can be an appealing choice, because 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Does Fargo have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.