Solar Panel Cost Guide in Fairbury, NE (2024 Update)
- Fairbury Solar Installation Cost: $23,005
- 25-Year Savings: $21,350
- Payback Period: 14.5 Years
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Average Cost of Solar Panels in Fairbury
Here’s how much it might cost to make the switch to solar in Fairbury.
In Fairbury, solar panels cost about 4 per watt on average.The average Fairbury homeowner needs a 9.2-kilowatt system, which would cost about $23,005 with the federal tax credit, or $32,897 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Fairbury homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a sound investment. The average homeowner in Fairbury can save about $16,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Fairbury for a quote for your home.
Solar savings over time in Fairbury
| Year | Return on Investment |
|---|---|
| 1 years | $-21,915 |
| 3 years | $-19,736 |
| 5 years | $-17,557 |
| 7 years | $-15,378 |
| 9 years | $-13,198 |
| 11 years | $-11,019 |
| 13 years | $-8,840 |
| 15 years | $-6,661 |
| 17 years | $-4,481 |
| 19 years | $-2,302 |
| 21 years | $-123 |
| 23 years | $2,056 |
| 25 years | $4,235 |
Top Solar Installers in Fairbury
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of an installer can make your switch to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy use, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers in Fairbury:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Fairbury
Factors that Affect Solar Panel Costs in Fairbury
For many Fairbury homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Fairbury, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require 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 $3,580.The brand of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Fairbury provide solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your all-in costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Fairbury is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.72 | $15,637 | $10,202 | 15.1 years |
| 8 kW | $3.65 | $20,449 | $14,004 | 14.8 years |
| 10 kW | $3.58 | $25,060 | $18,007 | 14.5 years |
| 12 kW | $3.51 | $29,471 | $22,209 | 14.3 years |
| 14 kW | $3.44 | $33,681 | $26,612 | 14.0 years |
| 16 kW | $3.37 | $37,690 | $31,216 | 13.7 years |
| 18 kW | $3.29 | $41,499 | $36,020 | 13.4 years |
| 20 kW | $3.22 | $45,108 | $41,025 | 13.1 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:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Fairbury, NE Solar Cost FAQs
What is the average cost of installing solar panels in Fairbury?
The average cost of solar panels in Fairbury is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model 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 Fairbury?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fairbury is currently $105,375, which means you can expect a value of about $4,320 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Fairbury is a rewarding investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.