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.
The national average cost of solar panels is $2.66 per watt, but in Fayetteville it’s 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.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with.With average savings of about $12,000 on utility bills over 20 years, many homeowners in Fayetteville find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Fayetteville that can help you get a more accurate cost estimate 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
Although you can install solar panels yourself, it requires extra effort and knowledge. Because of that, almost all homeowners choose to go with a solar panel installer. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're looking for a solar installer in Fayetteville, the EcoWatch team has put together a list of our top suggestions here:
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
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Fayetteville: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Fayetteville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,580 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Fayetteville homeowners choose to finance their solar panel systems to offset upfront costs.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 getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Fayetteville, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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
Since the kind of solar panels and the company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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
What is the average cost of installing solar panels in Fayetteville?
The average cost of solar panels in Fayetteville is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
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?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power 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 typically produce about 250 to 400 watt-hours per hour, the average house 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.