Solar Panel Cost Guide in Fargo, ND (2023 Update)
- Fargo Solar Installation Cost: $29,933
- 25-Year Savings: $40,832
- Payback Period: 10.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fargo
Here's how much it might cost to go solar in Fargo.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fargo, the typical cost of solar panels is 2.42 per watt. To cover the typical energy usage of the average home in Fargo, most homeowners require a 17.7-kilowatt system. Using the figure above, a solar installation costs about $29,933, or $42,804 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Fargo
| Year | Return on Investment |
|---|---|
| 1 years | $-27,102 |
| 3 years | $-21,441 |
| 5 years | $-15,780 |
| 7 years | $-10,119 |
| 9 years | $-4,458 |
| 11 years | $1,203 |
| 13 years | $6,865 |
| 15 years | $12,526 |
| 17 years | $18,187 |
| 19 years | $23,848 |
| 21 years | $29,509 |
| 23 years | $35,170 |
| 25 years | $40,832 |
Top Solar Installers in Fargo
Although you can install solar panels by yourself, it requires extra effort and handiness. For that reason, most homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be invaluable as well, particularly if you aren't sure what type of solar equipment would be right for your home.
There are several licensed solar professionals that can install solar panels for you. 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
Even though the average cost of a solar system in Fargo is $29,933, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Fargo, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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 companies in Fargo have solar loans, which reduce your upfront costs of installing solar panels. Even though solar loans make adopting solar energy more accessible for Fargo homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can play a part in determining your pricing. Fargo's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that offers 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 | $2.52 | $10,571 | $13,453 | 11.0 years |
| 8 kW | $2.47 | $13,823 | $18,208 | 10.8 years |
| 10 kW | $2.42 | $16,940 | $23,099 | 10.6 years |
| 12 kW | $2.37 | $19,921 | $28,125 | 10.4 years |
| 14 kW | $2.32 | $22,767 | $33,287 | 10.2 years |
| 16 kW | $2.27 | $25,478 | $38,584 | 9.9 years |
| 18 kW | $2.23 | $28,053 | $44,017 | 9.7 years |
| 20 kW | $2.18 | $30,492 | $49,585 | 9.5 years |
How to Save on Solar Panels
Since the type of solar panels and the installer 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 things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you want to get plays a role in which installer you should choose, since different companies offer different panels.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
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.