Solar Panel Cost Guide in Forest, VA (2023 Update)
- Forest Solar Installation Cost: $14,851
- 25-Year Savings: $22,183
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Forest
Let's take a look at the average cost of solar panels in Forest.
In Forest, solar panels cost about 2.75 per watt on average. Using this figure, a typical 7.7-kW system would cost about $14,842 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find going solar is a sound investment. The average homeowner in Forest can save around $18,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Forest for a quote for your home.
Solar savings over time in Forest
| Year | Return on Investment |
|---|---|
| 1 years | $-14,728 |
| 3 years | $-14,481 |
| 5 years | $-14,234 |
| 7 years | $-13,987 |
| 9 years | $-13,740 |
| 11 years | $-13,493 |
| 13 years | $-13,246 |
| 15 years | $-12,999 |
| 17 years | $-12,752 |
| 19 years | $-12,505 |
| 21 years | $-12,259 |
| 23 years | $-12,012 |
| 25 years | $-11,765 |
Top Solar Installers in Forest
Installing solar panels by yourself can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for you.
There are various 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
See all of the solar companies in Forest
Factors that Affect Solar Panel Costs in Forest
For many Forest homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Forest, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,750. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Forest average.
Solar Financing Terms
Many homeowners find the average cost of solar in Forest to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Forest, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that offers the products, warranties and services you're looking for and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.86 | $12,012 | $16,790 | 10.4 years |
| 8 kW | $2.81 | $15,708 | $22,695 | 10.2 years |
| 10 kW | $2.75 | $19,250 | $28,754 | 10.0 years |
| 12 kW | $2.69 | $22,638 | $34,967 | 9.8 years |
| 14 kW | $2.64 | $25,872 | $41,334 | 9.6 years |
| 16 kW | $2.58 | $28,952 | $47,855 | 9.4 years |
| 18 kW | $2.53 | $31,878 | $54,529 | 9.2 years |
| 20 kW | $2.48 | $34,650 | $61,358 | 9.0 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: If you care about the durability of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 substantial role in the company you hire.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Forest, VA Solar Cost FAQs
What is the average cost of installing solar panels in Forest?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,750 for a 5-kW system and $27,500 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Forest?
Leasing solar panels can be an attractive choice, because it commonly 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How will installing solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Forest is currently $205,830, so you could be looking at a value of about $8,439 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Forest is a fruitful investment.
How long do solar panels last in Forest?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.