Solar Panel Cost Guide in Fairport, NY (2023 Update)
- Fairport Solar Installation Cost: $10,653
- 25-Year Savings: $5,694
- Payback Period: 18.6 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Fairport
Let’s have a look at the average cost of solar panels in Fairport.
In Fairport, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Fairport, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,653, or $15,234 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Fairport can save about $13,000 on their energy bills over 20 years.
To get a free estimate from a vetted solar company in Fairport, you can click the button below.
Solar savings over time in Fairport
| Year | Return on Investment |
|---|---|
| 1 years | $-9,746 |
| 3 years | $-7,934 |
| 5 years | $-6,122 |
| 7 years | $-4,309 |
| 9 years | $-2,497 |
| 11 years | $-684 |
| 13 years | $1,128 |
| 15 years | $2,941 |
| 17 years | $4,753 |
| 19 years | $6,566 |
| 21 years | $8,378 |
| 23 years | $10,190 |
| 25 years | $12,003 |
Top Solar Installers in Fairport
Installing solar panels on your own can be a stressful project, which is why using a solar installer is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar contractor too, which can save you more money over time.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Fairport
Factors that Affect Solar Panel Costs in Fairport
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Fairport: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels in Fairport, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Fairport, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Fairport, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $4,641 | 19.4 years |
| 8 kW | $3.72 | $20,849 | $6,597 | 19.0 years |
| 10 kW | $3.65 | $25,550 | $8,757 | 18.6 years |
| 12 kW | $3.58 | $30,047 | $11,122 | 18.2 years |
| 14 kW | $3.50 | $34,339 | $13,691 | 17.9 years |
| 16 kW | $3.43 | $38,427 | $16,465 | 17.5 years |
| 18 kW | $3.36 | $42,311 | $19,443 | 17.1 years |
| 20 kW | $3.29 | $45,990 | $22,625 | 16.8 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: The model of solar panel you’d like to install plays a role in which installer you should choose, since different companies offer different panels.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going 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
EcoWatch's Fairport, NY Solar Cost FAQs
How much does it cost to install solar panels in Fairport?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Fairport?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
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 the amount of 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 usage 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 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.