Solar Panel Cost Guide in Fargo, ND (2024 Update)
- Fargo Solar Installation Cost: $44,291
- 25-Year Savings: $40,825
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Fargo
Find out what the average cost of installing solar panels is in Fargo.
In Fargo, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Fargo, most homeowners require a 17.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $44,291, or $63,336 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Fargo homeowners. 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.Despite the high initial cost, the average Fargo homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Fargo
| Year | Return on Investment |
|---|---|
| 1 years | $-42,989 |
| 3 years | $-40,384 |
| 5 years | $-37,779 |
| 7 years | $-35,174 |
| 9 years | $-32,569 |
| 11 years | $-29,965 |
| 13 years | $-27,360 |
| 15 years | $-24,755 |
| 17 years | $-22,150 |
| 19 years | $-19,545 |
| 21 years | $-16,941 |
| 23 years | $-14,336 |
| 25 years | $-11,731 |
Top Solar Installers in Fargo
When making the switch to solar, many homeowners choose to hire a solar company since overseeing your solar installation yourself can be a time-consuming project. The payback period on a solar system will vary depending on factors like your location and energy usage, but going with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Fargo:
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 Fargo
Factors that Affect Solar Panel Costs in Fargo
There are many criteria that can determine your solar system 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 panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require 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 $3,580.There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Fargo homeowners decide to finance their solar panel systems to offset upfront costs.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Fargo, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.72 | $15,637 | $8,386 | 16.3 years |
| 8 kW | $3.65 | $20,449 | $11,582 | 16.0 years |
| 10 kW | $3.58 | $25,060 | $14,979 | 15.6 years |
| 12 kW | $3.51 | $29,471 | $18,576 | 15.3 years |
| 14 kW | $3.44 | $33,681 | $22,373 | 15.0 years |
| 16 kW | $3.37 | $37,690 | $26,372 | 14.7 years |
| 18 kW | $3.29 | $41,499 | $30,570 | 14.4 years |
| 20 kW | $3.22 | $45,108 | $34,969 | 14.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Fargo, ND Solar Cost FAQs
How much does it cost to install solar panels in Fargo?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Fargo?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fargo is currently $291,493, which means you could be looking at a value of about $11,951 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Fargo is a fruitful investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know 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 home 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.