Solar Panel Cost Guide in Alma, AR (Mar 2023)
- Alma Solar Installation Cost: $15,113
- 25-Year Savings: $19,813
- Payback Period: 10.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Alma
Let's have a look at the average cost of solar panels in Alma.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Alma, the average cost of a solar system is 2.54 per watt. The average Alma homeowner needs a 8.5-kilowatt system, which would cost about $15,113 with the federal tax credit, or $21,612 before the 30% tax credit is applied.
How much you pay can be above or below the average in Alma depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. With average savings of about $16,000 on electricity bills over 20 years, many homeowners in Alma find installing solar panels has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in Alma that can help you get a more accurate cost estimate for your home.
Solar savings over time in Alma
| Year | Return on Investment |
|---|---|
| 1 years | $-13,716 |
| 3 years | $-10,922 |
| 5 years | $-8,128 |
| 7 years | $-5,334 |
| 9 years | $-2,540 |
| 11 years | $254 |
| 13 years | $3,049 |
| 15 years | $5,843 |
| 17 years | $8,637 |
| 19 years | $11,431 |
| 21 years | $14,225 |
| 23 years | $17,019 |
| 25 years | $19,813 |
Top Solar Installers in Alma
Although you can install solar panels yourself, it requires extra time and handiness. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Alma
Factors that Affect Solar Panel Costs in Alma
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Alma: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use 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 $2,540. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Alma, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Alma homeowners opt to finance their solar panel systems to offset upfront costs. Even though solar loans make going solar more accessible for Alma homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can impact your pricing. Alma's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Alma are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $13,545 | 11.3 years |
| 8 kW | $2.59 | $14,508 | $18,344 | 11.0 years |
| 10 kW | $2.54 | $17,780 | $23,286 | 10.8 years |
| 12 kW | $2.49 | $20,909 | $28,369 | 10.6 years |
| 14 kW | $2.44 | $23,896 | $33,595 | 10.4 years |
| 16 kW | $2.39 | $26,741 | $38,964 | 10.2 years |
| 18 kW | $2.34 | $29,444 | $44,474 | 10.0 years |
| 20 kW | $2.29 | $32,004 | $50,127 | 9.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Alma, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Alma, AR Solar Cost FAQs
How much does it cost to install solar panels in Alma?
The average cost of solar panels in Alma is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Alma is currently $149,300, which means you can look forward to a value of about $6,121 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Alma is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.