Solar Panel Cost Guide in Fairmount, NY (Jan 2023)
- Fairmount Solar Installation Cost: $9,561
- 25-Year Savings: $4,853
- Payback Period: 16.6 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Fairmount
See how much it might cost to switch to solar power in Fairmount.
The average cost of a solar panel system in Fairmount is $3 per watt. Using this figure, a typical 4.6 would cost about $9,561 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Fairmount homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Fairmount see about $12,000 in savings on electricity bills over 20 years.
To receive a free quote from a vetted solar installation company in Fairmount, you can click the button below.
Solar savings over time in Fairmount
| Year | Return on Investment |
|---|---|
| 1 years | $-8,984 |
| 3 years | $-7,831 |
| 5 years | $-6,678 |
| 7 years | $-5,525 |
| 9 years | $-4,372 |
| 11 years | $-3,219 |
| 13 years | $-2,066 |
| 15 years | $-912 |
| 17 years | $241 |
| 19 years | $1,394 |
| 21 years | $2,547 |
| 23 years | $3,700 |
| 25 years | $4,853 |
Top Solar Installers in Fairmount
Although it's possible to install solar panels by yourself, it takes extra labor and knowledge. That's one of the reasons most homeowners choose to hire a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're on the hunt for a solar company in Fairmount, we've put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Fairmount
Factors that Affect Solar Panel Costs in Fairmount
There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you get for your solar system can raise or lower 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more 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
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Fairmount homeowners choose to finance their solar panel systems to offset upfront costs. It's a good idea to include 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 back the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can affect your pricing. Fairmount's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $3.07 | $12,886 | $5,786 | 17.3 years |
| 8 kW | $3.01 | $16,850 | $8,044 | 16.9 years |
| 10 kW | $2.95 | $20,650 | $10,469 | 16.6 years |
| 12 kW | $2.89 | $24,284 | $13,058 | 16.3 years |
| 14 kW | $2.83 | $27,754 | $15,812 | 15.9 years |
| 16 kW | $2.77 | $31,058 | $18,732 | 15.6 years |
| 18 kW | $2.71 | $34,196 | $21,817 | 15.3 years |
| 20 kW | $2.66 | $37,170 | $25,067 | 14.9 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 select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When making the switch to solar power, it's necessary to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Fairmount, NY Solar Cost FAQs
What is the average cost of installing solar panels in Fairmount?
The average cost of solar panels in Fairmount is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Fairmount?
A solar panel system isn't free in Fairmount, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Fairmount?
On average, solar panels can last 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.