Solar Panel Cost Guide in Fairmount, NY (2024 Update)
- Fairmount Solar Installation Cost: $11,835
- 25-Year Savings: $4,849
- Payback Period: 20.5 Years
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Average Cost of Solar Panels in Fairmount
See how much it might cost to go solar in Fairmount.
In Fairmount, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Fairmount, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,835, or $16,924 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.Even with the large initial cost, the average Fairmount homeowner can save around $12,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Fairmount
| Year | Return on Investment |
|---|---|
| 1 years | $-10,981 |
| 3 years | $-9,274 |
| 5 years | $-7,567 |
| 7 years | $-5,860 |
| 9 years | $-4,153 |
| 11 years | $-2,447 |
| 13 years | $-740 |
| 15 years | $967 |
| 17 years | $2,674 |
| 19 years | $4,381 |
| 21 years | $6,088 |
| 23 years | $7,795 |
| 25 years | $9,502 |
Top Solar Installers in Fairmount
Trying to put up solar panels by yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Solar warranties and repairs are often included in the cost of installation when you opt for a solar contractor too, which can save you more money over time.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Fairmount
Factors that Affect Solar Panel Costs in Fairmount
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Fairmount: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,650 per kilowatt in Fairmount.The kind of solar equipment you choose can bring your price up or down 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 over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Fairmount average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular choice because they cut back 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 loans, 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $2,728 | 21.3 years |
| 8 kW | $3.72 | $20,849 | $4,046 | 20.9 years |
| 10 kW | $3.65 | $25,550 | $5,569 | 20.5 years |
| 12 kW | $3.58 | $30,047 | $7,295 | 20.1 years |
| 14 kW | $3.50 | $34,339 | $9,227 | 19.7 years |
| 16 kW | $3.43 | $38,427 | $11,363 | 19.3 years |
| 18 kW | $3.36 | $42,311 | $13,703 | 18.9 years |
| 20 kW | $3.29 | $45,990 | $16,247 | 18.5 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and 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: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Fairmount, NY Solar Cost FAQs
What is the average cost of installing solar panels in Fairmount?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other 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 expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.