Solar Panel Cost Guide in Cabot, AR (2023 Update)
- Cabot Solar Installation Cost: $14,852
- 25-Year Savings: $22,628
- Payback Period: 9.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Cabot
Find out what the average cost of solar panel installation is in Cabot.
The average cost of solar panels in Cabot is 2.54 per watt. Because a 8.3-kW system is needed to cover the energy consumption of a typical home in Cabot, the average price of going solar will be about $14,846 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Cabot can save about $17,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Cabot
| Year | Return on Investment |
|---|---|
| 1 years | $-14,727 |
| 3 years | $-14,477 |
| 5 years | $-14,227 |
| 7 years | $-13,978 |
| 9 years | $-13,728 |
| 11 years | $-13,478 |
| 13 years | $-13,228 |
| 15 years | $-12,978 |
| 17 years | $-12,728 |
| 19 years | $-12,478 |
| 21 years | $-12,228 |
| 23 years | $-11,979 |
| 25 years | $-11,729 |
Top Solar Installers in Cabot
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar panel installer can make your switch to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're searching for a solar installer in Cabot, the EcoWatch team has put together a list of our top suggestions here:
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 Cabot
Factors that Affect Solar Panel Costs in Cabot
While the average cost of a solar system in Cabot is $14,846, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Cabot, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Cabot average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Cabot, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Cabot is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Cabot know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $15,826 | 10.3 years |
| 8 kW | $2.59 | $14,508 | $21,386 | 10.1 years |
| 10 kW | $2.54 | $17,780 | $27,088 | 9.9 years |
| 12 kW | $2.49 | $20,909 | $32,933 | 9.7 years |
| 14 kW | $2.44 | $23,896 | $38,919 | 9.5 years |
| 16 kW | $2.39 | $26,741 | $45,048 | 9.3 years |
| 18 kW | $2.34 | $29,444 | $51,319 | 9.1 years |
| 20 kW | $2.29 | $32,004 | $57,733 | 8.9 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Cabot, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the completion timeline.
- Solar Panel Brands: Each solar panel brand and kind offers 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.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
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 Cabot, AR Solar Cost FAQs
How much does it cost to install solar panels in Cabot?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Cabot?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 bang for your buck from going solar.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Cabot, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Cabot?
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 larger 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.