Solar Panel Cost Guide in Forest Acres, SC (2024 Update)
- Forest Acres Solar Installation Cost: $19,102
- 25-Year Savings: $31,584
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Forest Acres
Here’s how much it might cost to go solar in Forest Acres.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Forest Acres, the typical cost of a solar system is 3 per watt.Using this figure, a typical 7.9-kW system would cost about $19,102 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more.For most homeowners, the upfront investment in solar power is worth paying. On average Forest Acres homeowners see about $24,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Forest Acres
| Year | Return on Investment |
|---|---|
| 1 years | $-17,362 |
| 3 years | $-13,881 |
| 5 years | $-10,400 |
| 7 years | $-6,919 |
| 9 years | $-3,439 |
| 11 years | $42 |
| 13 years | $3,523 |
| 15 years | $7,004 |
| 17 years | $10,485 |
| 19 years | $13,965 |
| 21 years | $17,446 |
| 23 years | $20,927 |
| 25 years | $24,408 |
Top Solar Installers in Forest Acres
When making the switch to solar, many homeowners opt to use a solar installation company since installing solar panels yourself can be a time-consuming project. Another great thing about using a top solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Forest Acres
Factors that Affect Solar Panel Costs in Forest Acres
While the average cost of a solar system in Forest Acres is $19,102, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Forest Acres, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,450 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Forest Acres have solar loans, which reduce the initial cost of installing solar.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Forest Acres, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $20,312 | 10.6 years |
| 8 kW | $3.52 | $19,706 | $27,469 | 10.4 years |
| 10 kW | $3.45 | $24,150 | $34,820 | 10.2 years |
| 12 kW | $3.38 | $28,400 | $42,363 | 10.0 years |
| 14 kW | $3.31 | $32,458 | $50,100 | 9.8 years |
| 16 kW | $3.24 | $36,322 | $58,030 | 9.6 years |
| 18 kW | $3.17 | $39,992 | $66,153 | 9.4 years |
| 20 kW | $3.11 | $43,470 | $74,470 | 9.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the completion timeline.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Warranty: If you’re concerned about the endurance of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Forest Acres, SC Solar Cost FAQs
How much does it cost to install solar panels in Forest Acres?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Forest Acres?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Forest Acres?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How long do solar panels last in Forest Acres?
On average, the lifespan of solar panels is 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 higher amount 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.