Solar Panel Cost Guide in Elkins, AR (2024 Update)
- Elkins Solar Installation Cost: $20,977
- 25-Year Savings: $19,812
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Elkins
Find out how much it might cost to switch to solar power in Elkins.
The national average cost of solar panels is $2.66 per watt, but in Elkins it’s 3 per watt.To cover the typical energy usage of the average home in Elkins, most homeowners require a 8.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,977, or $29,997 before the federal solar tax credit of 0 is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on your specific situation and what company you want to go with.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Elkins see about $16,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar company in Elkins for a custom quote.
Solar savings over time in Elkins
| Year | Return on Investment |
|---|---|
| 1 years | $-19,629 |
| 3 years | $-16,932 |
| 5 years | $-14,235 |
| 7 years | $-11,537 |
| 9 years | $-8,840 |
| 11 years | $-6,143 |
| 13 years | $-3,446 |
| 15 years | $-749 |
| 17 years | $1,948 |
| 19 years | $4,645 |
| 21 years | $7,342 |
| 23 years | $10,039 |
| 25 years | $12,736 |
Top Solar Installers in Elkins
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar company can make switching to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money over time.
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 Elkins
Factors that Affect Solar Panel Costs in Elkins
For many Elkins homeowners, the decision to go solar depends on 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 a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Elkins, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $3,490 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your overall costs, so it’s crucial to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Elkins, and each can charge varying amounts for labor and equipment.Additionally, some companies in Elkins have more knowledge about local solar incentives and can help you make good use 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 end up saving you 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 | $3.63 | $15,244 | $9,267 | 15.5 years |
| 8 kW | $3.56 | $19,935 | $12,748 | 15.2 years |
| 10 kW | $3.49 | $24,430 | $16,423 | 14.9 years |
| 12 kW | $3.42 | $28,730 | $20,294 | 14.7 years |
| 14 kW | $3.35 | $32,834 | $24,360 | 14.4 years |
| 16 kW | $3.28 | $36,743 | $28,622 | 14.1 years |
| 18 kW | $3.21 | $40,456 | $33,079 | 13.8 years |
| 20 kW | $3.14 | $43,974 | $37,732 | 13.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: When reading over 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 component breaking or the company going out of business.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
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 Elkins, AR Solar Cost FAQs
How much does it cost to install solar panels in Elkins?
The average cost of solar panels in Elkins 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Elkins?
You can’t get solar panels for free in Elkins. 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 want to own your solar panels, you can finance them with a solar loan.
How will solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.