Solar Panel Cost Guide in Forest, MS (Jan 2023)
- Forest Solar Installation Cost: $15,505
- 25-Year Savings: $26,818
- Payback Period: 9.2 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Forest
Find out how much it might cost to switch to solar power in Forest.
The average cost of solar panels in Forest is $3 per watt. The average Forest homeowner needs a 8.4-kilowatt system, which would cost about $15,505, or $11,474 after the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. With average savings of about $19,000 on power bills over 20 years, many homeowners in Forest find installing solar panels can pay off big.
To get a free quote from a pre-vetted solar installation company in Forest, you can click the button below.
Solar savings over time in Forest
| Year | Return on Investment |
|---|---|
| 1 years | $-13,812 |
| 3 years | $-10,426 |
| 5 years | $-7,040 |
| 7 years | $-3,654 |
| 9 years | $-269 |
| 11 years | $3,117 |
| 13 years | $6,503 |
| 15 years | $9,889 |
| 17 years | $13,275 |
| 19 years | $16,660 |
| 21 years | $20,046 |
| 23 years | $23,432 |
| 25 years | $26,818 |
Top Solar Installers in Forest
Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be challenging. The expertise that solar companies provide can be helpful as well, particularly if you aren't sure what type of solar equipment would be right for your home.
If you'd like to go solar but still aren't sure which solar system company to go with, here are our recommendations for providers nearby:
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
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 Forest
Factors that Affect Solar Panel Costs in Forest
Even though the average cost of a solar system in Forest is $15,505, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require 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 $2,640. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that are more efficient tend to also be more expensive. Plus, 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
Many homeowners find the average cost of solar in Forest to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating in Forest, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.75 | $11,532 | $18,735 | 9.5 years |
| 8 kW | $2.69 | $15,080 | $25,276 | 9.3 years |
| 10 kW | $2.64 | $18,480 | $31,964 | 9.2 years |
| 12 kW | $2.59 | $21,732 | $38,801 | 9.0 years |
| 14 kW | $2.53 | $24,837 | $45,785 | 8.8 years |
| 16 kW | $2.48 | $27,794 | $52,917 | 8.6 years |
| 18 kW | $2.43 | $30,603 | $60,197 | 8.4 years |
| 20 kW | $2.38 | $33,264 | $67,625 | 8.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Forest, MS Solar Cost FAQs
What is the average cost of installing solar panels in Forest?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,200 for a 5-kW system and $26,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, 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?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Does Forest have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even though 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 their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.