Solar Panel Cost Guide in Fordyce, AR (2023 Update)
- Fordyce Solar Installation Cost: $14,720
- 25-Year Savings: $26,169
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fordyce
Let's take a look at the average cost of solar panels in Fordyce.
Although the national average of solar panels is $2.66 per watt, solar panels in Fordyce generally cost about 2.54. Using this figure, a typical 8.3-kW system would cost about $14,722 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely differ based on factors unique to your home and what company you go with. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Fordyce see about $19,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Fordyce
| Year | Return on Investment |
|---|---|
| 1 years | $-13,264 |
| 3 years | $-10,352 |
| 5 years | $-7,440 |
| 7 years | $-4,528 |
| 9 years | $-1,616 |
| 11 years | $1,296 |
| 13 years | $4,208 |
| 15 years | $7,120 |
| 17 years | $10,033 |
| 19 years | $12,945 |
| 21 years | $15,857 |
| 23 years | $18,769 |
| 25 years | $21,681 |
Top Solar Installers in Fordyce
Trying to put up solar panels by yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what type of solar equipment you need.
If you're on the hunt for a solar installer in Fordyce, the EcoWatch team has compiled 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 Fordyce
Factors that Affect Solar Panel Costs in Fordyce
The cost of installing a solar system in Fordyce can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Fordyce average.
Solar Financing Terms
Many homeowners find the average cost of solar in Fordyce to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Fordyce is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different price points. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $18,538 | 9.4 years |
| 8 kW | $2.59 | $14,508 | $25,002 | 9.2 years |
| 10 kW | $2.54 | $17,780 | $31,608 | 9.0 years |
| 12 kW | $2.49 | $20,909 | $38,356 | 8.8 years |
| 14 kW | $2.44 | $23,896 | $45,246 | 8.6 years |
| 16 kW | $2.39 | $26,741 | $52,279 | 8.5 years |
| 18 kW | $2.34 | $29,444 | $59,454 | 8.3 years |
| 20 kW | $2.29 | $32,004 | $66,771 | 8.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Fordyce, AR Solar Cost FAQs
How much does it cost to install solar panels in Fordyce?
This is a difficult question to answer precisely, 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Fordyce?
Solar panels aren't free in Fordyce, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Fordyce have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.