Solar Panel Cost Guide in Fayette, OH (2024 Update)
- Fayette Solar Installation Cost: $17,642
- 25-Year Savings: $20,210
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Fayette
Find out what the average cost of a solar system is in Fayette.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fayette, the typical cost of solar panels is 3 per watt.The average Fayette homeowner needs a 7.4-kilowatt system, which would cost about $17,642 with the federal tax credit, or $25,228 before the 0 tax credit is applied.
These figures are only averages, and how much solar costs for you will look different based on the amount of energy your home requires and what company you choose to go with.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $17,000 in savings on utility bills over 20 years.
To get a free quote from a vetted solar installer in Fayette, you can click the button below.
Solar savings over time in Fayette
| Year | Return on Investment |
|---|---|
| 1 years | $-16,310 |
| 3 years | $-13,646 |
| 5 years | $-10,982 |
| 7 years | $-8,318 |
| 9 years | $-5,654 |
| 11 years | $-2,990 |
| 13 years | $-326 |
| 15 years | $2,338 |
| 17 years | $5,002 |
| 19 years | $7,666 |
| 21 years | $10,330 |
| 23 years | $12,994 |
| 25 years | $15,658 |
Top Solar Installers in Fayette
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with an installer can make your swap to solar power much easier. Another great thing about choosing a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Fayette
Factors that Affect Solar Panel Costs in Fayette
For many Fayette homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Fayette, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,410 per kilowatt in Fayette.The kind of solar equipment you choose can increase or decrease your cost 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 in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Fayette average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.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 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 considerably.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can play a role in determining the cost. Fayette’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Fayette know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $12,263 | 13.7 years |
| 8 kW | $3.48 | $19,478 | $16,733 | 13.4 years |
| 10 kW | $3.41 | $23,870 | $21,393 | 13.2 years |
| 12 kW | $3.34 | $28,071 | $26,245 | 12.9 years |
| 14 kW | $3.27 | $32,081 | $31,287 | 12.7 years |
| 16 kW | $3.21 | $35,900 | $36,521 | 12.4 years |
| 18 kW | $3.14 | $39,529 | $41,945 | 12.1 years |
| 20 kW | $3.07 | $42,966 | $47,561 | 11.9 years |
How to Save on Solar Panels
There are a large number of companies available in Fayette, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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 large role in the company you go with.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Fayette, OH Solar Cost FAQs
What is the average cost of installing solar panels in Fayette?
The average cost of solar panels in Fayette is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real 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’d rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Fayette?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.