Solar Panel Cost Guide in Farmington, NH (2024 Update)
- Farmington Solar Installation Cost: $14,508
- 25-Year Savings: $16,796
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Farmington
Let’s take a look at the average cost of solar panels in Farmington.
The national average cost of solar panels is $2.66 per watt, but in Farmington it’s 4 per watt.Using this figure, a typical 4.9-kW system would cost about $14,508 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely vary based on your specific situation and what company you go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $21,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Farmington for a quote for your home.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-13,101 |
| 3 years | $-10,287 |
| 5 years | $-7,474 |
| 7 years | $-4,660 |
| 9 years | $-1,846 |
| 11 years | $967 |
| 13 years | $3,781 |
| 15 years | $6,595 |
| 17 years | $9,408 |
| 19 years | $12,222 |
| 21 years | $15,035 |
| 23 years | $17,849 |
| 25 years | $20,663 |
Top Solar Installers in Farmington
Putting up solar panels yourself can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Farmington
Factors that Affect Solar Panel Costs in Farmington
There are several factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Farmington, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.Although solar loans make adopting solar energy more accessible for Farmington homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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
A final consideration when trying to estimate the cost of solar for your home or business in Farmington is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different costs.You may notice national solar installers that have lower prices due to 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 | $4.39 | $18,433 | $14,308 | 14.1 years |
| 8 kW | $4.30 | $24,105 | $19,550 | 13.8 years |
| 10 kW | $4.22 | $29,540 | $25,028 | 13.5 years |
| 12 kW | $4.14 | $34,739 | $30,743 | 13.3 years |
| 14 kW | $4.05 | $39,702 | $36,694 | 13.0 years |
| 16 kW | $3.97 | $44,428 | $42,881 | 12.7 years |
| 18 kW | $3.88 | $48,918 | $49,304 | 12.5 years |
| 20 kW | $3.80 | $53,172 | $55,964 | 12.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Though 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 the terms of the warranty.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Farmington, NH Solar Cost FAQs
How much does it cost to install solar panels in Farmington?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $21,100 for a 5-kW system and $42,200 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Farmington?
You can’t get solar panels for free in Farmington. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.