Solar Panel Cost Guide in Fayette, NY (2023 Update)
- Fayette Solar Installation Cost: $9,577
- 25-Year Savings: $5,223
- Payback Period: 16.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fayette
Let's take a look at the average cost of solar in Fayette.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fayette, the average cost of a solar system is 2.95 per watt. To account for the typical energy usage of the average home in Fayette, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,582, or $13,702 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you will most likely look different based on factors unique to your home and what company you choose to go with. With average savings of about $12,000 on energy bills over 20 years, many homeowners in Fayette find going solar can be quite rewarding.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Fayette
| Year | Return on Investment |
|---|---|
| 1 years | $-9,528 |
| 3 years | $-9,429 |
| 5 years | $-9,331 |
| 7 years | $-9,232 |
| 9 years | $-9,133 |
| 11 years | $-9,035 |
| 13 years | $-8,936 |
| 15 years | $-8,837 |
| 17 years | $-8,739 |
| 19 years | $-8,640 |
| 21 years | $-8,541 |
| 23 years | $-8,443 |
| 25 years | $-8,344 |
Top Solar Installers in Fayette
When making the switch to solar, many homeowners opt to hire a solar installer since putting up a solar system yourself can be a challenging project. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for you.
Working with a vetted solar installer can help you make the most of your investment in solar. 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
See all of the solar companies in Fayette
Factors that Affect Solar Panel Costs in Fayette
There are a number of criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. 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. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Fayette average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Fayette, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. 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 original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Fayette is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services at different costs. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for 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 | $3.07 | $12,886 | $6,261 | 16.8 years |
| 8 kW | $3.01 | $16,850 | $8,678 | 16.5 years |
| 10 kW | $2.95 | $20,650 | $11,261 | 16.2 years |
| 12 kW | $2.89 | $24,284 | $14,009 | 15.9 years |
| 14 kW | $2.83 | $27,754 | $16,922 | 15.5 years |
| 16 kW | $2.77 | $31,058 | $20,000 | 15.2 years |
| 18 kW | $2.71 | $34,196 | $23,243 | 14.9 years |
| 20 kW | $2.66 | $37,170 | $26,652 | 14.6 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 durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Fayette, NY Solar Cost FAQs
What is the average cost of installing solar panels in Fayette?
The average cost of solar panels in Fayette is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Fayette?
You can't get solar panels for free in Fayette. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fayette is currently $111,536, which means you could be looking at a value of about $4,573 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Fayette is a fruitful investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.