Solar Panel Cost Guide in Fayette, OH (2023 Update)
- Fayette Solar Installation Cost: $13,243
- 25-Year Savings: $20,212
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fayette
Here's how much it might cost to go solar in Fayette.
The average cost of a solar panel system in Fayette is 2.56 per watt. Using this figure, a typical 7.4-kW system would cost about $13,243 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may look different based on factors unique to your home and what company you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Fayette can save around $17,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar company in Fayette for a personalized estimate.
Solar savings over time in Fayette
| Year | Return on Investment |
|---|---|
| 1 years | $-11,905 |
| 3 years | $-9,228 |
| 5 years | $-6,552 |
| 7 years | $-3,876 |
| 9 years | $-1,199 |
| 11 years | $1,477 |
| 13 years | $4,153 |
| 15 years | $6,830 |
| 17 years | $9,506 |
| 19 years | $12,183 |
| 21 years | $14,859 |
| 23 years | $17,535 |
| 25 years | $20,212 |
Top Solar Installers in Fayette
Although it's possible to install solar panels by yourself, it requires extra energy and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Fayette
Factors that Affect Solar Panel Costs in Fayette
Though the average cost of a solar system in Fayette is $13,243, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,560. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Fayette, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular route 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. You'll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Some companies 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 decide on 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 | $2.66 | $11,182 | $15,976 | 10.3 years |
| 8 kW | $2.61 | $14,623 | $21,588 | 10.1 years |
| 10 kW | $2.56 | $17,920 | $27,343 | 9.9 years |
| 12 kW | $2.51 | $21,074 | $33,242 | 9.7 years |
| 14 kW | $2.46 | $24,084 | $39,284 | 9.5 years |
| 16 kW | $2.41 | $26,952 | $45,470 | 9.3 years |
| 18 kW | $2.36 | $29,676 | $51,798 | 9.1 years |
| 20 kW | $2.30 | $32,256 | $58,271 | 8.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Fayette, OH Solar Cost FAQs
What is the average cost of installing solar panels in Fayette?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Fayette?
You can't get solar panels for free in Fayette. 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 want to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Fayette, 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.
How many solar panels do I need to power 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 take a 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 buy 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.