Solar Panel Cost Guide in Five Forks, SC (2023 Update)
- Five Forks Solar Installation Cost: $15,374
- 25-Year Savings: $29,826
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Five Forks
See how much it might cost to install solar panels in Five Forks.
In Five Forks, solar panels cost about 2.72 per watt on average. Using this figure, a typical 8.1-kW system would cost about $15,365 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Five Forks based on a few factors, such as the kind of solar panels you choose and the solar company you hire. With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Five Forks find going solar has a decent ROI.
Click the button below to get connected to a top solar installer in your area for a custom quote.
Solar savings over time in Five Forks
| Year | Return on Investment |
|---|---|
| 1 years | $-15,223 |
| 3 years | $-14,922 |
| 5 years | $-14,621 |
| 7 years | $-14,319 |
| 9 years | $-14,018 |
| 11 years | $-13,717 |
| 13 years | $-13,415 |
| 15 years | $-13,114 |
| 17 years | $-12,813 |
| 19 years | $-12,511 |
| 21 years | $-12,210 |
| 23 years | $-11,909 |
| 25 years | $-11,607 |
Top Solar Installers in Five Forks
Although it's possible to install solar panels yourself, it takes extra effort and knowledge. Because of that, most homeowners choose to go with a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're on the hunt for a solar installer in Five Forks, we've organized 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
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
There are several criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,720. The kind of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions 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 for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Five Forks homeowners opt to finance their solar panel systems to make paying for solar more affordable. Although solar loans make adopting solar energy more accessible for Five Forks 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Five Forks is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets. Additionally, some companies in Five Forks have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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
There are a large number of companies available in Five Forks, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should opt for, since different companies offer different panels.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- 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 likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
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 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase the value of your home 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% after installing solar panels."
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 larger level 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.