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.
Although the national average of solar panels is $2.66 per watt, solar panels in Forest City typically cost around 4.Using this figure, a typical 6.8-kW system would cost about $16,815 before the 0 federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Forest City based on several factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Forest City can save about $18,000 on their energy bills over 20 years.
To receive a free estimate from a vetted solar installer in Forest City, you can 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
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make swapping over to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your initial investment.
If you're searching for a solar company in Forest City, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Forest City
Factors that Affect Solar Panel Costs in Forest City
The cost of installing a solar system in Forest City can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Forest City to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Forest City is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that offer a range of services for different budgets.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 additional 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
The solar company you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Contract: Before you sign a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Forest City, NC Solar Cost FAQs
What is the average cost of installing solar panels in Forest City?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want 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 appealing choice, as it typically 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 maximize your savings.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose 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."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption 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 buy between 20 and 35 panels to cover 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.