Solar Panel Cost Guide in Five Forks, SC (Nov 2022)

  • Five Forks Solar Installation Cost: $15,365
  • 25-Year Savings: $29,835
  • Payback Period: 8.5 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Five Forks

We go over average solar pricing in Five Forks.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Five Forks, the average cost of a solar system is $3 per watt. The average solar panel system size in Five Forks is around 8.1 kilowatts, meaning a cost of about $15,365 for a solar installation, or $11,370 after the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Five Forks see about $21,000 in savings on utility bills over 20 years.

To get a free quote from a vetted solar company in Five Forks, you can click the button below.

Solar savings over time in Five Forks

Year Return on Investment
1 years $-13,557
3 years $-9,941
5 years $-6,325
7 years $-2,709
9 years $907
11 years $4,523
13 years $8,139
15 years $11,755
17 years $15,371
19 years $18,987
21 years $22,603
23 years $26,219
25 years $29,835

Top Solar Installers in Five Forks

Although it's possible to install solar panels by yourself, it requires extra time and handiness. That's one of the reasons most people choose to hire a solar panel installer. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

If you're searching for a solar company in Five Forks, we've put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Five Forks

Factors that Affect Solar Panel Costs in Five Forks

There are many factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

The size of the solar system you need for your home is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,720. The brand of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of 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 searching for a solar system that's in your budget.

Solar Financing Terms

Most solar installers in Five Forks provide solar loans, which reduce your upfront costs of installing solar. Although solar loans make adopting solar energy more accessible for Five Forks homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar system can affect how much you pay. Five Forks' solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Five Forks have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.83 $11,881 $21,706 8.8 years
8 kW $2.77 $15,537 $29,246 8.7 years
10 kW $2.72 $19,040 $36,938 8.5 years
12 kW $2.67 $22,391 $44,782 8.3 years
14 kW $2.61 $25,590 $52,779 8.2 years
16 kW $2.56 $28,636 $60,928 8.0 years
18 kW $2.50 $31,530 $69,230 7.8 years
20 kW $2.45 $34,272 $77,684 7.7 years

How to Save on Solar Panels

The solar company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:

  • Warranty: If you're worried about the longevity of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Installation Process: When going solar, it's essential to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project timeline.
  • Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Five Forks, SC Solar Cost FAQs

What is the average cost of installing solar panels in Five Forks?

This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,600 for a 5-kW system and $27,200 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Five Forks?

Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback 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.

Can solar panels eliminate my electricity bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,119.56 per year.

How long do solar panels last in Five Forks?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

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