Solar Panel Cost Guide in Fayetteville, TN (2024 Update)
- Fayetteville Solar Installation Cost: $19,697
- 25-Year Savings: $9,525
- Payback Period: 21.2 Years
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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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fayetteville, the typical cost of a solar system is 4 per watt.Using this figure, a typical 7.9-kW system would cost about $19,697 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Fayetteville homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the large initial cost, the average Fayetteville homeowner can save about $12,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar installer in Fayetteville for a quote for your home.
Solar savings over time in Fayetteville
| Year | Return on Investment |
|---|---|
| 1 years | $-18,132 |
| 3 years | $-15,002 |
| 5 years | $-11,873 |
| 7 years | $-8,743 |
| 9 years | $-5,614 |
| 11 years | $-2,484 |
| 13 years | $645 |
| 15 years | $3,775 |
| 17 years | $6,904 |
| 19 years | $10,034 |
| 21 years | $13,163 |
| 23 years | $16,293 |
| 25 years | $19,422 |
Top Solar Installers in Fayetteville
When going solar, many homeowners decide to use a solar company since putting up a solar system yourself can be a time-consuming project. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar contractor too, which can save you more money after your initial investment.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Fayetteville
Factors that Affect Solar Panel Costs in Fayetteville
The cost of installing a solar system in Fayetteville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,580.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Fayetteville average.
Solar Financing Terms
Most solar companies in Fayetteville provide solar loans, which reduce the initial cost of installing solar.It’s a good idea to add 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
The solar panel installation company you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.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 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 | $3.72 | $15,637 | $2,091 | 22.1 years |
| 8 kW | $3.65 | $20,449 | $3,190 | 21.6 years |
| 10 kW | $3.58 | $25,060 | $4,488 | 21.2 years |
| 12 kW | $3.51 | $29,471 | $5,987 | 20.8 years |
| 14 kW | $3.44 | $33,681 | $7,687 | 20.4 years |
| 16 kW | $3.37 | $37,690 | $9,587 | 19.9 years |
| 18 kW | $3.29 | $41,499 | $11,687 | 19.5 years |
| 20 kW | $3.22 | $45,108 | $13,988 | 19.1 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Contract: Read the contract terms carefully to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Fayetteville, TN Solar Cost FAQs
How much does it cost to install solar panels in Fayetteville?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Fayetteville?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy 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 consumption and the average daily 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.