Solar Panel Cost Guide in Fayetteville, NY (2023 Update)
- Fayetteville Solar Installation Cost: $9,561
- 25-Year Savings: $6,646
- Payback Period: 14.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fayetteville
Let's take a look at the average cost of solar panels in Fayetteville.
The average cost of a solar system in Fayetteville is 2.95 per watt. The average Fayetteville homeowner needs a 4.6-kilowatt system, which would cost about $9,561 with the federal tax credit, or $13,672 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more. Even with the large initial cost, the average Fayetteville homeowner can save around $13,000 on their energy bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Fayetteville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,913 |
| 3 years | $-7,616 |
| 5 years | $-6,320 |
| 7 years | $-5,023 |
| 9 years | $-3,726 |
| 11 years | $-2,430 |
| 13 years | $-1,133 |
| 15 years | $163 |
| 17 years | $1,460 |
| 19 years | $2,756 |
| 21 years | $4,053 |
| 23 years | $5,349 |
| 25 years | $6,646 |
Top Solar Installers in Fayetteville
When going solar, many homeowners prefer to use a solar installation company since installing solar panels yourself can be a difficult project. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for your home.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Fayetteville:
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 Fayetteville
Factors that Affect Solar Panel Costs in Fayetteville
There are many criteria that can affect 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 panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Fayetteville offer solar loans, which reduce the initial cost of installing a solar system. It's wise 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Fayetteville is the company you get to install your solar system. As with choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $8,108 | 15.3 years |
| 8 kW | $3.01 | $16,850 | $11,141 | 15.0 years |
| 10 kW | $2.95 | $20,650 | $14,339 | 14.8 years |
| 12 kW | $2.89 | $24,284 | $17,703 | 14.5 years |
| 14 kW | $2.83 | $27,754 | $21,231 | 14.2 years |
| 16 kW | $2.77 | $31,058 | $24,925 | 13.9 years |
| 18 kW | $2.71 | $34,196 | $28,784 | 13.6 years |
| 20 kW | $2.66 | $37,170 | $32,808 | 13.3 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 models and price points. To help you decide on 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, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Companies that have been operating for many years 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 adequate aftercare and customer service, 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 Fayetteville, NY Solar Cost FAQs
How much does it cost to install solar panels in Fayetteville?
The average cost of solar panels in Fayetteville 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Fayetteville?
A solar panel system isn't free in Fayetteville, 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.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Fayetteville, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for 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 usually 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.