Solar Panel Cost Guide in Forsyth, MI (2024 Update)
- Forsyth Solar Installation Cost: $17,972
- 25-Year Savings: $36,575
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in Forsyth
We break down average solar pricing in Forsyth.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Forsyth, the average cost of a solar system is 4 per watt.The average solar panel system size in Forsyth is around 6.3 kilowatts, meaning a cost of about $17,972 for a solar installation, or $25,700 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will differ based on factors unique to your home and what company you want to go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $29,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Forsyth
| Year | Return on Investment |
|---|---|
| 1 years | $-16,178 |
| 3 years | $-12,588 |
| 5 years | $-8,999 |
| 7 years | $-5,409 |
| 9 years | $-1,820 |
| 11 years | $1,769 |
| 13 years | $5,359 |
| 15 years | $8,948 |
| 17 years | $12,538 |
| 19 years | $16,127 |
| 21 years | $19,717 |
| 23 years | $23,306 |
| 25 years | $26,895 |
Top Solar Installers in Forsyth
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make swapping over to solar power much easier. Another good thing about choosing a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers nearby:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Forsyth
Factors that Affect Solar Panel Costs in Forsyth
The cost of installing a solar system in Forsyth can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. The model of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment is 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Forsyth homeowners choose to finance their solar panel systems to make paying for solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can play a role in determining how much you pay. Forsyth’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger 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 | $4.22 | $17,734 | $28,769 | 9.5 years |
| 8 kW | $4.14 | $23,191 | $38,814 | 9.4 years |
| 10 kW | $4.06 | $28,420 | $49,086 | 9.2 years |
| 12 kW | $3.98 | $33,422 | $59,585 | 9.0 years |
| 14 kW | $3.90 | $38,196 | $70,312 | 8.8 years |
| 16 kW | $3.82 | $42,744 | $81,266 | 8.6 years |
| 18 kW | $3.74 | $47,064 | $92,447 | 8.4 years |
| 20 kW | $3.65 | $51,156 | $103,856 | 8.3 years |
How to Save on Solar Panels
There are many companies to choose from in Forsyth, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Contract: Even though reading through a contract can take a lot of time, 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.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Forsyth, MI Solar Cost FAQs
What is the average cost of installing solar panels in Forsyth?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Forsyth, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.