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Top Solar Installers in Hot Springs
Installing solar panels yourself can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. The expertise that solar installers offer can be useful as well, especially if you don't quite know what kind of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Hot Springs
Factors that Affect Solar Panel Costs in Hot Springs
For many Hot Springs homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Hot Springs, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
When it comes to estimating the cost of a solar energy system in Hot Springs, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,540 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond 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 looking into a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Hot Springs, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more 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 down to compete with bigger 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||$15,301||10.5 years|
|8 kW||$2.59||$14,508||$20,686||10.3 years|
|10 kW||$2.54||$17,780||$26,213||10.1 years|
|12 kW||$2.49||$20,909||$31,882||9.9 years|
|14 kW||$2.44||$23,896||$37,693||9.7 years|
|16 kW||$2.39||$26,741||$43,647||9.5 years|
|18 kW||$2.34||$29,444||$49,743||9.3 years|
|20 kW||$2.29||$32,004||$55,981||9.1 years|
How to Save on Solar Panels
The solar installer you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: The type of solar panel you want to get plays a role in which company you should opt for, since different companies offer different panels.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: Make sure your solar panel 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.
EcoWatch's Hot Springs, AR Solar Cost FAQs
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.