Solar Panel Cost Guide in Forest City, NC (2024 Update)
- Forest City Solar Installation Cost: $16,815
- 25-Year Savings: $20,721
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Forest City
We break down average solar pricing in Forest City.
The national average cost of solar panels is $2.66 per watt, but in Forest City it’s 4 per watt.The average Forest City homeowner needs a 6.8-kilowatt system, which would cost about $16,815 with the federal tax credit, or $24,045 before the 0 tax credit is applied.
Keep in mind 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 system you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Forest City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,493 |
| 3 years | $-12,848 |
| 5 years | $-10,204 |
| 7 years | $-7,560 |
| 9 years | $-4,916 |
| 11 years | $-2,271 |
| 13 years | $373 |
| 15 years | $3,017 |
| 17 years | $5,661 |
| 19 years | $8,306 |
| 21 years | $10,950 |
| 23 years | $13,594 |
| 25 years | $16,238 |
Top Solar Installers in Forest City
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be hard. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
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 City
Factors that Affect Solar Panel Costs in Forest City
Though the average cost of a solar system in Forest City is $16,815, 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
When it comes to estimating the cost of a solar energy system in Forest City, one of the most important 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 electricity bills. Your overall cost can increase by around $3,510 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can increase or decrease 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular route because they reduce your upfront costs and let you pay for your system over five to seven years on average.Even though solar loans make switching to solar energy more accessible for Forest City homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can influence how much you pay. Forest City’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $3.65 | $15,332 | $13,503 | 13.3 years |
| 8 kW | $3.58 | $20,049 | $18,397 | 13.0 years |
| 10 kW | $3.51 | $24,570 | $23,488 | 12.8 years |
| 12 kW | $3.44 | $28,894 | $28,775 | 12.5 years |
| 14 kW | $3.37 | $33,022 | $34,259 | 12.3 years |
| 16 kW | $3.30 | $36,953 | $39,939 | 12.0 years |
| 18 kW | $3.23 | $40,688 | $45,816 | 11.8 years |
| 20 kW | $3.16 | $44,226 | $51,889 | 11.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Forest City, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
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 City, NC Solar Cost FAQs
What is the average cost of installing solar panels in Forest City?
The average cost of solar panels in Forest City is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Forest City?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How will installing solar panels impact the value of my home?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.