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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Farmington, the typical cost of a solar system is 4 per watt.The average solar panel system size in Farmington is around 4.9 kilowatts, meaning a cost of about $14,508 for a solar installation, or $20,746 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Farmington homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Farmington see about $21,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
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
Many homeowners decide to use a solar panel installer since installing solar panels by yourself can be time-consuming. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 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
The cost of installing a solar system in Farmington can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Farmington average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: When making the switch to solar, it’s crucial to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 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
What is the average cost of installing solar panels in Farmington?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally 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 higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Farmington?
You can’t get solar panels for free in Farmington. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer 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 lots of 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 pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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 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.