Solar Panel Cost Guide in Forrest City, AR (2024 Update)
- Forrest City Solar Installation Cost: $20,503
- 25-Year Savings: $22,397
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Forrest City
Find out what the average cost of solar panel installation is in Forrest City.
The national average cost of solar panels is $2.66 per watt, but in Forrest City it’s 3 per watt.The average Forrest City homeowner needs a 8.4-kilowatt system, which would cost about $20,503 with the federal tax credit, or $29,319 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Forrest City can save about $17,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in Forrest City for a personalized quote.
Solar savings over time in Forrest City
| Year | Return on Investment |
|---|---|
| 1 years | $-19,047 |
| 3 years | $-16,135 |
| 5 years | $-13,223 |
| 7 years | $-10,310 |
| 9 years | $-7,398 |
| 11 years | $-4,486 |
| 13 years | $-1,574 |
| 15 years | $1,338 |
| 17 years | $4,250 |
| 19 years | $7,162 |
| 21 years | $10,074 |
| 23 years | $12,986 |
| 25 years | $15,899 |
Top Solar Installers in Forrest City
Although you can install solar panels yourself, it involves extra energy and knowledge. For that reason, almost all homeowners choose a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Forrest City
Factors that Affect Solar Panel Costs in Forrest City
Though the average cost of a solar system in Forrest City is $20,503, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Forrest City, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by about $3,490 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Forrest City homeowners opt to finance their solar panel systems to make going solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating in Forrest City, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.63 | $15,244 | $11,436 | 14.3 years |
| 8 kW | $3.56 | $19,935 | $15,638 | 14.0 years |
| 10 kW | $3.49 | $24,430 | $20,036 | 13.7 years |
| 12 kW | $3.42 | $28,730 | $24,630 | 13.5 years |
| 14 kW | $3.35 | $32,834 | $29,419 | 13.2 years |
| 16 kW | $3.28 | $36,743 | $34,404 | 12.9 years |
| 18 kW | $3.21 | $40,456 | $39,583 | 12.6 years |
| 20 kW | $3.14 | $43,974 | $44,959 | 12.4 years |
How to Save on Solar Panels
There are a large number of companies available in Forrest City, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which company you should opt for, since different companies offer different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Forrest City, AR Solar Cost FAQs
What is the average cost of installing solar panels in Forrest City?
The average cost of solar panels in Forrest City is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Forrest City?
Leasing solar panels can be an appealing choice, as it usually 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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.