Solar Panel Cost Guide in Elkins, AR (Feb 2023)
- Elkins Solar Installation Cost: $15,273
- 25-Year Savings: $19,806
- Payback Period: 10.9 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Elkins
Let's have a look at the average cost of solar panels in Elkins.
While the national average of solar panels is $2.66 per watt, solar panels in Elkins generally cost about $3. Because a 8.6-kW system is needed to cover the energy consumption of a typical home in Elkins, the average price of going solar will be about $15,273 before claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Elkins homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Elkins can save around $16,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Elkins for a quote for your home.
Solar savings over time in Elkins
| Year | Return on Investment |
|---|---|
| 1 years | $-13,870 |
| 3 years | $-11,064 |
| 5 years | $-8,257 |
| 7 years | $-5,451 |
| 9 years | $-2,645 |
| 11 years | $162 |
| 13 years | $2,968 |
| 15 years | $5,774 |
| 17 years | $8,581 |
| 19 years | $11,387 |
| 21 years | $14,193 |
| 23 years | $17,000 |
| 25 years | $19,806 |
Top Solar Installers in Elkins
Many homeowners opt for a solar panel company since trying to install solar panels yourself can be a labor-intensive endeavor. Another perk of using a solar company is that they can help you make the most of your investment by reducing your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. 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
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 Elkins
Factors that Affect Solar Panel Costs in Elkins
For many Elkins homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Elkins, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Elkins. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at a higher equipment cost, but this can typically lead to greater 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
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Elkins, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Elkins, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.64 | $11,095 | $13,417 | 11.3 years |
| 8 kW | $2.59 | $14,508 | $18,174 | 11.1 years |
| 10 kW | $2.54 | $17,780 | $23,073 | 10.9 years |
| 12 kW | $2.49 | $20,909 | $28,114 | 10.7 years |
| 14 kW | $2.44 | $23,896 | $33,298 | 10.4 years |
| 16 kW | $2.39 | $26,741 | $38,624 | 10.2 years |
| 18 kW | $2.34 | $29,444 | $44,092 | 10.0 years |
| 20 kW | $2.29 | $32,004 | $49,702 | 9.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
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 Elkins, AR Solar Cost FAQs
How much does it cost to install solar panels in Elkins?
This is a tough question to answer exactly, because the cost depends on a few different 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 higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Elkins?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity 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 Elkins?
On average, solar panels can last 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 level 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.