Solar Panel Cost Guide in Alexander, AR (2024 Update)
- Alexander Solar Installation Cost: $20,518
- 25-Year Savings: $20,984
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Alexander
Find out what the average cost of solar panel installation is in Alexander.
The average cost of a solar system in Alexander is 3 per watt.To account for the typical energy needs of the average home in Alexander, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $20,518, or $29,341 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you may vary based on your specific situation and what company you choose to go with.With average savings of about $16,000 on electricity bills over 20 years, many homeowners in Alexander find investing in solar can be quite rewarding.
Click the button below to get connected to a highly rated solar installer in Alexander for a custom estimate.
Solar savings over time in Alexander
| Year | Return on Investment |
|---|---|
| 1 years | $-19,062 |
| 3 years | $-16,150 |
| 5 years | $-13,238 |
| 7 years | $-10,326 |
| 9 years | $-7,414 |
| 11 years | $-4,502 |
| 13 years | $-1,590 |
| 15 years | $1,322 |
| 17 years | $4,235 |
| 19 years | $7,147 |
| 21 years | $10,059 |
| 23 years | $12,971 |
| 25 years | $15,883 |
Top Solar Installers in Alexander
Trying to install solar panels by yourself can be a time-consuming project, which is why getting a solar installer is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 adopt solar energy 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 number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,490.The brand and type of equipment you get 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
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 Alexander homeowners choose to finance their solar panel systems to offset upfront costs.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Alexander is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $3.63 | $15,244 | $10,414 | 14.9 years |
| 8 kW | $3.56 | $19,935 | $14,277 | 14.6 years |
| 10 kW | $3.49 | $24,430 | $18,334 | 14.3 years |
| 12 kW | $3.42 | $28,730 | $22,588 | 14.0 years |
| 14 kW | $3.35 | $32,834 | $27,036 | 13.7 years |
| 16 kW | $3.28 | $36,743 | $31,680 | 13.4 years |
| 18 kW | $3.21 | $40,456 | $36,520 | 13.1 years |
| 20 kW | $3.14 | $43,974 | $41,555 | 12.9 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: When reading through your solar company’s contract, ask questions 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.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
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
What is the average cost of installing solar panels in Alexander?
The average cost of solar panels in Alexander is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Alexander?
You can’t get solar panels for free in Alexander. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out what solar panel system size 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 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.