Solar Panel Cost Guide in Cave Springs, AR (Mar 2023)
- Cave Springs Solar Installation Cost: $15,237
- 25-Year Savings: $21,209
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cave Springs
See how much it might cost to switch to solar power in Cave Springs.
In Cave Springs, solar panels cost about 2.54 per watt on average. The average Cave Springs homeowner needs a 8.6-kilowatt system, which would cost about $15,237 with the federal tax credit, or $21,789 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Despite the high upfront cost, the average Cave Springs homeowner can save about $16,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a vetted solar installer in Cave Springs for a customized quote.
Solar savings over time in Cave Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-13,780 |
| 3 years | $-10,864 |
| 5 years | $-7,948 |
| 7 years | $-5,032 |
| 9 years | $-2,117 |
| 11 years | $799 |
| 13 years | $3,715 |
| 15 years | $6,631 |
| 17 years | $9,546 |
| 19 years | $12,462 |
| 21 years | $15,378 |
| 23 years | $18,294 |
| 25 years | $21,209 |
Top Solar Installers in Cave Springs
When making the switch to solar, many homeowners prefer to hire a solar installation company since installing a solar system yourself can be a time-consuming project. In addition, if you'd like to maximize your investment in solar energy, opting for a solar company can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our recommendations for providers in Cave Springs:
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 Cave Springs
Factors that Affect Solar Panel Costs in Cave Springs
While the average cost of a solar system in Cave Springs is $15,237, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar energy system in Cave Springs, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. The model of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Cave Springs homeowners decide to finance their solar panel systems to offset upfront costs. 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Cave Springs, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater 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 discount can bring their pricing down to compete with bigger companies.
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 | $14,421 | 10.9 years |
| 8 kW | $2.59 | $14,508 | $19,512 | 10.7 years |
| 10 kW | $2.54 | $17,780 | $24,746 | 10.5 years |
| 12 kW | $2.49 | $20,909 | $30,122 | 10.2 years |
| 14 kW | $2.44 | $23,896 | $35,640 | 10.0 years |
| 16 kW | $2.39 | $26,741 | $41,301 | 9.8 years |
| 18 kW | $2.34 | $29,444 | $47,103 | 9.6 years |
| 20 kW | $2.29 | $32,004 | $53,048 | 9.4 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully 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.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity 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 installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Warranty: If you care about the durability of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Cave Springs, AR Solar Cost FAQs
How much does it cost to install solar panels in Cave Springs?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Cave Springs?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Does Cave Springs have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Cave Springs?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.