Solar Panel Cost Guide in Harrison, AR (2024 Update)
- Harrison Solar Installation Cost: $20,981
- 25-Year Savings: $21,667
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Harrison
We break down average solar pricing in Harrison.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Harrison, the average cost of a solar system is 3 per watt.Using this figure, a typical 8.6-kW system would cost about $20,981 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Harrison see about $16,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar company in Harrison that can help you get a more accurate cost estimate for your home.
Solar savings over time in Harrison
| Year | Return on Investment |
|---|---|
| 1 years | $-19,525 |
| 3 years | $-16,612 |
| 5 years | $-13,700 |
| 7 years | $-10,788 |
| 9 years | $-7,876 |
| 11 years | $-4,964 |
| 13 years | $-2,052 |
| 15 years | $860 |
| 17 years | $3,772 |
| 19 years | $6,685 |
| 21 years | $9,597 |
| 23 years | $12,509 |
| 25 years | $15,421 |
Top Solar Installers in Harrison
Many homeowners decide to hire a solar installation company since trying to install solar panels by yourself can be a lot of work. Some solar installers, particularly local ones, can help you make the most of incentives in Harrison, therefore optimizing your ROI.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our suggestions for providers in Harrison:
See all of the solar companies in Harrison
Factors that Affect Solar Panel Costs in Harrison
The cost of installing a solar system in Harrison can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,490. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal 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 last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Harrison, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $10,561 | 14.8 years |
| 8 kW | $3.56 | $19,935 | $14,473 | 14.5 years |
| 10 kW | $3.49 | $24,430 | $18,579 | 14.2 years |
| 12 kW | $3.42 | $28,730 | $22,882 | 13.9 years |
| 14 kW | $3.35 | $32,834 | $27,379 | 13.6 years |
| 16 kW | $3.28 | $36,743 | $32,072 | 13.3 years |
| 18 kW | $3.21 | $40,456 | $36,961 | 13.1 years |
| 20 kW | $3.14 | $43,974 | $42,045 | 12.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
EcoWatch's Harrison, AR Solar Cost FAQs
How much does it cost to install solar panels in Harrison?
The average cost of solar panels in Harrison 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Harrison?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback 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 get the most savings.
How will installing solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Harrison is currently $207,691, so you can look forward to a value of about $8,515 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Harrison is a rewarding investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.