16 Best Solar Companies in Hot Springs, AR (Mar 2023 Review)

The Cost and Benefits of Solar in Hot Springs

The cost of putting up solar panels has dropped significantly in the past few years, but it's still a large investment for most homeowners. The overall price and potential savings vary depending on a few important factors such as:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Not including incentives, you can save an average of $17,000 over 20 years with your solar panels, too.
• The amount of sunlight your roof gets: This, and the configuration of your roof, affects affect how much power your solar panels can produce.
• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If space isn't a constraint for your project, you can go with a higher number of more affordable panels.
• How much power your household consumes: Households that consume plenty of power each month may require more solar panels and, as a result, more upfront cost, but will also enjoy more savings over time.

So are solar panels worth it? Whether you hope to lower your electricity costs, greenhouse gas emissions or both, solar panels are a solid investment for many Hot Springs homeowners.

Solar Incentives in Hot Springs

One of the great things about installing a solar panel system is earning federal and potentially state incentives. These incentives normally include cash rebates, tax breaks and/or performance-based incentives. They can lower the cost of installing solar panels by 30%, upwards of 50% depending on your location. For comprehensive information about incentives for homeowners in Hot Springs, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Hot Springs

If you're planning on adding solar panels to your home, one of the major reasons why may be to reduce your greenhouse gas emissions. You may be wondering — how much does going solar do for the planet anyway? If your household uses lots of energy, you can impact the environment even more by switching to solar energy. While solar panel production emits carbon dioxide, the panels make up for it by greatly reducing the amount of CO2 you would have produced if you still used traditional energy. In Hot Springs, you can reduce your carbon footprint by 70 pounds a year with solar panels. The good things about solar power are plentiful — just like solar power is! That's why so many people have been happy with making the switch to solar.