Solar Panel Cost Guide in Fairmount, NY (2023 Update)
- Fairmount Solar Installation Cost: $9,565
- 25-Year Savings: $4,849
- Payback Period: 16.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fairmount
We break down average solar pricing in Fairmount.
While the national average of solar panels is $2.66 per watt, solar panels in Fairmount generally cost around 2.95. Using this figure, a typical 4.6-kW system would cost about $9,561 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of equipment you choose, your solar contractor and more. With average savings of about $12,000 on energy bills over 20 years, many homeowners in Fairmount find installing solar panels can pay off big.
To get 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 | $-9,517 |
| 3 years | $-9,421 |
| 5 years | $-9,325 |
| 7 years | $-9,229 |
| 9 years | $-9,133 |
| 11 years | $-9,036 |
| 13 years | $-8,940 |
| 15 years | $-8,844 |
| 17 years | $-8,748 |
| 19 years | $-8,652 |
| 21 years | $-8,556 |
| 23 years | $-8,460 |
| 25 years | $-8,364 |
Top Solar Installers in Fairmount
Many homeowners opt for a solar panel company since trying to install solar panels on your own can be challenging. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
You can work with a local solar installer to get a free estimate on how much solar panels could cost 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 Fairmount
Factors that Affect Solar Panel Costs in Fairmount
The cost of installing a solar system in Fairmount can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important 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 $2,950 per kilowatt in Fairmount. The 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. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Fairmount average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. While solar loans make adopting solar energy more accessible for Fairmount homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Fairmount, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Fairmount know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 companies to choose from in Fairmount, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which company you should go with, since different companies have access to different panels.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Fairmount, NY Solar Cost FAQs
How much does it cost to install 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 things such as 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 Fairmount?
You can't get solar panels for free in Fairmount. 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 rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Fairmount?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 get 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.