Solar Panel Cost Guide in Alexander, AR (2023 Update)
- Alexander Solar Installation Cost: $14,935
- 25-Year Savings: $20,982
- Payback Period: 10.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Alexander
See how much it might cost to make the switch to solar in Alexander.
In Alexander, solar panels cost about 2.54 per watt on average. Using this figure, a typical 8.4-kW system would cost about $14,935 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Alexander homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Alexander find installing solar panels can be quite rewarding.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Alexander
| Year | Return on Investment |
|---|---|
| 1 years | $-13,498 |
| 3 years | $-10,625 |
| 5 years | $-7,752 |
| 7 years | $-4,878 |
| 9 years | $-2,005 |
| 11 years | $869 |
| 13 years | $3,742 |
| 15 years | $6,615 |
| 17 years | $9,489 |
| 19 years | $12,362 |
| 21 years | $15,236 |
| 23 years | $18,109 |
| 25 years | $20,982 |
Top Solar Installers in Alexander
Although you can install solar panels by yourself, it takes extra effort and expertise. Because of that, the majority of homeowners choose to hire a solar panel installer. Plus, if you're unsure what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Alexander
Factors that Affect Solar Panel Costs in Alexander
For many Alexander homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Alexander, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Alexander. 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average. It's wise to factor 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
Lastly, the company you hire to install your solar panels can play a part in determining the cost. Alexander's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $14,564 | 10.8 years |
| 8 kW | $2.59 | $14,508 | $19,703 | 10.6 years |
| 10 kW | $2.54 | $17,780 | $24,984 | 10.4 years |
| 12 kW | $2.49 | $20,909 | $30,408 | 10.2 years |
| 14 kW | $2.44 | $23,896 | $35,974 | 10.0 years |
| 16 kW | $2.39 | $26,741 | $41,682 | 9.8 years |
| 18 kW | $2.34 | $29,444 | $47,532 | 9.6 years |
| 20 kW | $2.29 | $32,004 | $53,525 | 9.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Alexander, AR Solar Cost FAQs
How much does it cost to install solar panels in Alexander?
The average cost of solar panels in Alexander is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual 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.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a beneficial investment for many 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 reasonably 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 need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.