Solar Panel Cost Guide in Fairview, NJ (2023 Update)
- Fairview Solar Installation Cost: $9,047
- 25-Year Savings: $8,804
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fairview
Find out how much it might cost to switch to solar power in Fairview.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fairview, the typical cost of a solar system is 2.77 per watt. To cover the typical energy needs of the average home in Fairview, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $9,055, or $12,949 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Fairview homeowners. 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. Even with the large initial cost, the average Fairview homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Fairview
| Year | Return on Investment |
|---|---|
| 1 years | $-8,987 |
| 3 years | $-8,868 |
| 5 years | $-8,749 |
| 7 years | $-8,630 |
| 9 years | $-8,511 |
| 11 years | $-8,392 |
| 13 years | $-8,273 |
| 15 years | $-8,154 |
| 17 years | $-8,035 |
| 19 years | $-7,916 |
| 21 years | $-7,797 |
| 23 years | $-7,678 |
| 25 years | $-7,559 |
Top Solar Installers in Fairview
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make swapping over to solar power much easier. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Fairview
Factors that Affect Solar Panel Costs in Fairview
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Fairview: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think 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 searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Fairview, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can affect the cost. Fairview's solar companies all have different labor costs and add varying upcharges to equipment. Some companies 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 go with the company that provides the products, warranties and services you want and also fit into 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 | $2.88 | $12,099 | $10,856 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,785 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,870 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,109 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,503 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $32,053 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,757 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,617 | 11.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The type of solar panel you want plays a role in which installer you should opt for, since different companies have access to different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Fairview, NJ Solar Cost FAQs
How much does it cost to install solar panels in Fairview?
The average cost of solar panels in Fairview is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Fairview?
You can't get solar panels for free in Fairview. However, you may still be able to get 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 it worth going solar in Fairview?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.