Solar Panel Cost Guide in Five Forks, SC (2024 Update)

  • Five Forks Solar Installation Cost: $19,500
  • 25-Year Savings: $17,632
  • Payback Period: 10.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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Average Cost of Solar Panels in Five Forks

Find out what the average cost of solar panels are in Five Forks.

The average cost of solar panels in Five Forks is 3 per watt.To account for the typical energy usage of the average home in Five Forks, most homeowners require a 8.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $19,500, or $27,885 before the federal solar tax credit of 0 is applied.

The actual price you pay can be higher or lower than the average in Five Forks depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.With average savings of about $21,000 on power bills over 20 years, many homeowners in Five Forks find going solar can be quite rewarding.

For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Five Forks

Year Return on Investment
1 years $-18,015
3 years $-15,044
5 years $-12,074
7 years $-9,103
9 years $-6,133
11 years $-3,162
13 years $-192
15 years $2,779
17 years $5,749
19 years $8,720
21 years $11,691
23 years $14,661
25 years $17,632

Top Solar Installers in Five Forks

Although you can install solar panels on your own, it takes extra energy and know-how. That's why most homeowners choose to go with a solar panel installer. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.

There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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 usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Five Forks: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher 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 $3,450.The model of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to decide on 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 utility bills over time, 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.When estimating 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

Finally, the company you opt for to install your solar panel system can play a role in determining your pricing. Five Forks’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.59 $15,070 $18,517 11.2 years
8 kW $3.52 $19,706 $25,076 11.0 years
10 kW $3.45 $24,150 $31,828 10.8 years
12 kW $3.38 $28,400 $38,773 10.6 years
14 kW $3.31 $32,458 $45,911 10.4 years
16 kW $3.24 $36,322 $53,243 10.1 years
18 kW $3.17 $39,992 $60,768 9.9 years
20 kW $3.11 $43,470 $68,486 9.7 years

How to Save on Solar Panels

Since the type of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
  • Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
  • Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Five Forks, SC Solar Cost FAQs

What is the average cost of installing solar panels in Five Forks?

This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,250 for a 5-kW system and $34,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Five Forks?

Leasing solar panels can be an attractive choice, because it typically 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 option if you want to get the most savings.

Do solar panels increase the value of your home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Five Forks is currently $318,770, so you could be looking at a value of about $13,070 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Five Forks is a rewarding investment.

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 usually produce about 250 to 400 watt-hours per hour, the average home 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.

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