Solar Panel Cost Guide in Farmington, NH (2023 Update)
- Farmington Solar Installation Cost: $10,004
- 25-Year Savings: $16,796
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Farmington
We go over average solar pricing in Farmington.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Farmington, the typical cost of solar panels is 2.91 per watt. To account for the typical energy needs of the average home in Farmington, most homeowners require a 4.9-kilowatt system. Using the figure above, a solar installation costs around $10,002, or $14,303 before the federal solar tax credit of 30% is applied.
The true cost of your system can go higher or lower than the average in Farmington depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Farmington find investing in solar can be quite rewarding.
Click the button below to get connected to a reputable solar installer in Farmington for a customized estimate.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-8,597 |
| 3 years | $-5,784 |
| 5 years | $-2,970 |
| 7 years | $-156 |
| 9 years | $2,657 |
| 11 years | $5,471 |
| 13 years | $8,284 |
| 15 years | $11,098 |
| 17 years | $13,912 |
| 19 years | $16,725 |
| 21 years | $19,539 |
| 23 years | $22,353 |
| 25 years | $25,166 |
Top Solar Installers in Farmington
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make swapping over to solar power much easier. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 a number of criteria that can influence 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 panels.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,910. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Farmington, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar system can impact the cost. Farmington's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.03 | $12,711 | $20,030 | 9.7 years |
| 8 kW | $2.97 | $16,622 | $27,033 | 9.5 years |
| 10 kW | $2.91 | $20,370 | $34,198 | 9.3 years |
| 12 kW | $2.85 | $23,955 | $41,527 | 9.1 years |
| 14 kW | $2.79 | $27,377 | $49,018 | 9.0 years |
| 16 kW | $2.74 | $30,636 | $56,673 | 8.8 years |
| 18 kW | $2.68 | $33,733 | $64,490 | 8.6 years |
| 20 kW | $2.62 | $36,666 | $72,470 | 8.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies have various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
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
What is the average cost of installing solar panels in Farmington?
The average cost of solar panels in Farmington is about $14,550 for a 5-kW system and $29,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Farmington?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Farmington?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.