Solar Panel Cost Guide in Forest City, IA (2024 Update)
- Forest City Solar Installation Cost: $27,285
- 25-Year Savings: $25,853
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Forest City
Let’s take a look at the average cost of solar in Forest City.
The average cost of solar panels in Forest City is 4 per watt.Using this figure, a typical 9.7-kW system would cost about $27,285 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of solar system you choose, your solar contractor and more.With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Forest City find investing in solar has a decent ROI.
Click the button below to get connected to a vetted solar installer in Forest City for a custom estimate.
Solar savings over time in Forest City
| Year | Return on Investment |
|---|---|
| 1 years | $-25,569 |
| 3 years | $-22,136 |
| 5 years | $-18,703 |
| 7 years | $-15,270 |
| 9 years | $-11,837 |
| 11 years | $-8,404 |
| 13 years | $-4,971 |
| 15 years | $-1,538 |
| 17 years | $1,895 |
| 19 years | $5,328 |
| 21 years | $8,761 |
| 23 years | $12,194 |
| 25 years | $15,627 |
Top Solar Installers in Forest City
Although you can install solar panels on your own, it involves extra time and knowledge. Because of that, most homeowners choose a solar panel installer. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you’d like to start using solar energy but still aren’t certain which solar system installer to go with, here are our suggestions for providers nearby:
See all of the solar companies in Forest City
Factors that Affect Solar Panel Costs in Forest City
For many Forest City 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 Forest City, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better 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 $4,010.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Forest City average.
Solar Financing Terms
Most solar installers in Forest City have solar loans, which reduce your upfront costs of installing a solar system.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Forest City is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that offer a range of services for different budgets.Larger national companies generally 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 additional 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 | $4.17 | $17,516 | $10,076 | 15.9 years |
| 8 kW | $4.09 | $22,905 | $13,884 | 15.6 years |
| 10 kW | $4.01 | $28,070 | $17,916 | 15.3 years |
| 12 kW | $3.93 | $33,010 | $22,173 | 15.0 years |
| 14 kW | $3.85 | $37,726 | $26,654 | 14.6 years |
| 16 kW | $3.77 | $42,217 | $31,360 | 14.3 years |
| 18 kW | $3.69 | $46,484 | $36,291 | 14.0 years |
| 20 kW | $3.61 | $50,526 | $41,446 | 13.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
EcoWatch's Forest City, IA Solar Cost FAQs
How much does it cost to install solar panels in Forest City?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $20,050 for a 5-kW system and $40,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Forest City?
Leasing solar panels can be an option if you can’t pay upfront or get 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.
Can you sell solar power back to the grid in Forest City?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Forest City?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.