Solar Panel Cost Guide in Five Forks, SC (Mar 2023)
- 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:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Five Forks
We go over average solar pricing in Five Forks.
Although the national average of solar panels is $2.66 per watt, solar panels in Five Forks typically cost around 2.72. Using this figure, a typical 8.1-kW system would cost about $15,365 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Five Forks homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Five Forks see about $21,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Five Forks for a quote for your home.
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
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar company can make converting to solar power much easier. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you're looking for a solar company in Five Forks, the EcoWatch team has put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Five Forks
Factors that Affect Solar Panel Costs in Five Forks
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Five Forks: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,720 per kilowatt in Five Forks. The type of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to consider 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's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Five Forks to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can affect your pricing. Five Forks' solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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 | $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
There are a large number of companies to choose from in Five Forks, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: If you're concerned about the durability of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Five Forks, SC Solar Cost FAQs
How much does it cost to install solar panels in Five Forks?
The average cost of solar panels in Five Forks is about $13,600 for a 5-kW system and $27,200 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. 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 many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.