Solar Panel Cost Guide in Forsyth, IL (2023 Update)
- Forsyth Solar Installation Cost: $12,020
- 25-Year Savings: $12,690
- Payback Period: 12.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Forsyth
See how much it might cost to make the switch to solar in Forsyth.
The national average cost of solar panels is $2.66 per watt, but in Forsyth it's 2.73 per watt. The average Forsyth homeowner needs a 6.3-kilowatt system, which would cost about $12,020 with the federal tax credit, or $17,189 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. Despite the significant initial cost, the average Forsyth homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Forsyth
| Year | Return on Investment |
|---|---|
| 1 years | $-11,032 |
| 3 years | $-9,055 |
| 5 years | $-7,078 |
| 7 years | $-5,101 |
| 9 years | $-3,125 |
| 11 years | $-1,148 |
| 13 years | $829 |
| 15 years | $2,806 |
| 17 years | $4,782 |
| 19 years | $6,759 |
| 21 years | $8,736 |
| 23 years | $10,713 |
| 25 years | $12,690 |
Top Solar Installers in Forsyth
When switching to solar energy, many homeowners opt to go with a solar company since DIY solar panel installation can be a difficult project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're looking for a solar company in Forsyth, we've put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Forsyth
Factors that Affect Solar Panel Costs in Forsyth
There are many factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar panel system in Forsyth, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The brand and type of equipment you choose 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 come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Forsyth, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the total 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 interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $11,631 | 12.7 years |
| 8 kW | $2.78 | $15,594 | $15,814 | 12.4 years |
| 10 kW | $2.73 | $19,110 | $20,150 | 12.2 years |
| 12 kW | $2.68 | $22,473 | $24,639 | 11.9 years |
| 14 kW | $2.62 | $25,684 | $29,280 | 11.7 years |
| 16 kW | $2.57 | $28,741 | $34,075 | 11.4 years |
| 18 kW | $2.51 | $31,646 | $39,022 | 11.2 years |
| 20 kW | $2.46 | $34,398 | $44,122 | 11.0 years |
How to Save on Solar Panels
There are a lot of 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:
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: If you're concerned about the durability of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Forsyth, IL Solar Cost FAQs
What is the average cost of installing solar panels in Forsyth?
The average cost of solar panels in Forsyth is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Forsyth?
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 enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Forsyth?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.