Solar Panel Cost Guide in Forrest City, AR (2024 Update)
- Forrest City Solar Installation Cost: $20,503
- 25-Year Savings: $22,397
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Forrest City
Find out what the average cost of solar panel installation is in Forrest City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Forrest City, the typical cost of a solar system is 3 per watt.The average Forrest City homeowner needs a 8.4-kilowatt system, which would cost about $20,503 with the federal tax credit, or $29,319 before the 0 tax credit is applied.
The true cost of your system can be higher or lower than the average in Forrest City based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.Even with the high initial cost, the average Forrest City homeowner can save around $17,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a reputable solar company in Forrest City for a personalized quote.
Solar savings over time in Forrest City
| Year | Return on Investment |
|---|---|
| 1 years | $-19,047 |
| 3 years | $-16,135 |
| 5 years | $-13,223 |
| 7 years | $-10,310 |
| 9 years | $-7,398 |
| 11 years | $-4,486 |
| 13 years | $-1,574 |
| 15 years | $1,338 |
| 17 years | $4,250 |
| 19 years | $7,162 |
| 21 years | $10,074 |
| 23 years | $12,986 |
| 25 years | $15,899 |
Top Solar Installers in Forrest City
Although you can install solar panels yourself, it involves extra energy and knowledge. For that reason, almost all homeowners choose a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Forrest City
Factors that Affect Solar Panel Costs in Forrest City
Though the average cost of a solar system in Forrest City is $20,503, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few 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 raise costs. For each additional kilowatt you need, your cost can go up by about $3,490.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Forrest City provide solar loans, which reduce your upfront costs of installing solar.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Forrest City, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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 | $3.63 | $15,244 | $11,436 | 14.3 years |
| 8 kW | $3.56 | $19,935 | $15,638 | 14.0 years |
| 10 kW | $3.49 | $24,430 | $20,036 | 13.7 years |
| 12 kW | $3.42 | $28,730 | $24,630 | 13.5 years |
| 14 kW | $3.35 | $32,834 | $29,419 | 13.2 years |
| 16 kW | $3.28 | $36,743 | $34,404 | 12.9 years |
| 18 kW | $3.21 | $40,456 | $39,583 | 12.6 years |
| 20 kW | $3.14 | $43,974 | $44,959 | 12.4 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Installation Process: Make sure you’re aligned with the installer in 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.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which company you should opt for, since different companies offer different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
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 Forrest City, AR Solar Cost FAQs
What is the average cost of installing solar panels in Forrest City?
The average cost of solar panels in Forrest City is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Forrest City?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Forrest City?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.