Solar Panel Cost Guide in Forest, MS (2024 Update)
- Forest Solar Installation Cost: $18,441
- 25-Year Savings: $26,818
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Forest
See how much it might cost to make the switch to solar in Forest.
In Forest, solar panels cost about 3 per watt on average.The average solar panel system size in Forest is around 8.4 kilowatts, meaning a cost of about $18,441 for a solar installation, or $26,371 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 energy system. The actual cost of going solar can vary based on several factors, such as what size system you need, your energy consumption and what company you go with.For most homeowners, the upfront investment in solar power is worth paying. On average Forest homeowners see about $19,000 in savings on energy bills over 20 years.
To get a free estimate from a highly rated solar company in Forest, you can click the button below.
Solar savings over time in Forest
| Year | Return on Investment |
|---|---|
| 1 years | $-16,613 |
| 3 years | $-12,957 |
| 5 years | $-9,301 |
| 7 years | $-5,645 |
| 9 years | $-1,989 |
| 11 years | $1,668 |
| 13 years | $5,324 |
| 15 years | $8,980 |
| 17 years | $12,636 |
| 19 years | $16,292 |
| 21 years | $19,948 |
| 23 years | $23,604 |
| 25 years | $27,260 |
Top Solar Installers in Forest
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make switching to solar power much easier. Also, if you’d like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
If you're looking for a solar company in Forest, we've compiled a list of our top suggestions here:
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 Forest
Factors that Affect Solar Panel Costs in Forest
For many Forest homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Forest, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Forest, 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 determine by looking at past energy bills. Your overall cost can increase by around $3,140 for each additional kilowatt you need.The brand of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
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. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time because of interest.You’ll have to consider the long-term cost of loans, including the amount of 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 more than the original 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 panel installation company you pick will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better 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 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 | $3.27 | $13,716 | $16,551 | 11.3 years |
| 8 kW | $3.20 | $17,936 | $22,420 | 11.1 years |
| 10 kW | $3.14 | $21,980 | $28,464 | 10.9 years |
| 12 kW | $3.08 | $25,848 | $34,685 | 10.7 years |
| 14 kW | $3.01 | $29,541 | $41,081 | 10.5 years |
| 16 kW | $2.95 | $33,058 | $47,653 | 10.2 years |
| 18 kW | $2.89 | $36,399 | $54,401 | 10.0 years |
| 20 kW | $2.83 | $39,564 | $61,325 | 9.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Forest, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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 Forest, MS Solar Cost FAQs
How much does it cost to install solar panels in Forest?
The average cost of solar panels in Forest is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Forest, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can decide 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.