Solar Panel Cost Guide in Gravette, AR (2024 Update)
- Gravette Solar Installation Cost: $20,937
- 25-Year Savings: $21,512
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Gravette
See how much it might cost to go solar in Gravette.
Although the national average of solar panels is $2.66 per watt, solar panels in Gravette generally cost about 3.To cover the typical energy usage of the average home in Gravette, most homeowners require a 8.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,937, or $29,940 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Gravette homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar company in Gravette that can help you get a more accurate cost estimate for your home.
Solar savings over time in Gravette
| Year | Return on Investment |
|---|---|
| 1 years | $-19,439 |
| 3 years | $-16,442 |
| 5 years | $-13,445 |
| 7 years | $-10,448 |
| 9 years | $-7,451 |
| 11 years | $-4,454 |
| 13 years | $-1,456 |
| 15 years | $1,541 |
| 17 years | $4,538 |
| 19 years | $7,535 |
| 21 years | $10,532 |
| 23 years | $13,529 |
| 25 years | $16,526 |
Top Solar Installers in Gravette
Many homeowners decide to hire a solar installer since installing solar panels by yourself can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Gravette
Factors that Affect Solar Panel Costs in Gravette
There are a number of factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,490.The model of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Gravette homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact your pricing. Gravette’s solar companies all have different labor costs and add varying upcharges to 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 additional services like electric vehicle 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 | $3.63 | $15,244 | $10,484 | 14.8 years |
| 8 kW | $3.56 | $19,935 | $14,369 | 14.5 years |
| 10 kW | $3.49 | $24,430 | $18,450 | 14.2 years |
| 12 kW | $3.42 | $28,730 | $22,727 | 14.0 years |
| 14 kW | $3.35 | $32,834 | $27,199 | 13.7 years |
| 16 kW | $3.28 | $36,743 | $31,866 | 13.4 years |
| 18 kW | $3.21 | $40,456 | $36,729 | 13.1 years |
| 20 kW | $3.14 | $43,974 | $41,787 | 12.8 years |
How to Save on Solar Panels
There are a lot of companies available in Gravette, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Gravette, AR Solar Cost FAQs
How much does it cost to install solar panels in Gravette?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 higher 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.