Solar Panel Cost Guide in Hot Springs Village, AR (Feb 2023)
- Hot Springs Village Solar Installation Cost: $15,006
- 25-Year Savings: $22,473
- Payback Period: 10.0 Years
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Top Solar Installers in Hot Springs Village
Putting up solar panels by yourself can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. Plus, if you'd like to maximize your investment in solar power, using a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Hot Springs Village
Factors that Affect Solar Panel Costs in Hot Springs Village
For many Hot Springs Village homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Hot Springs Village, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
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 average energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Hot Springs Village, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Hot Springs Village, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have 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||$2.64||$11,095||$15,561||10.4 years|
|8 kW||$2.59||$14,508||$21,032||10.2 years|
|10 kW||$2.54||$17,780||$26,646||10.0 years|
|12 kW||$2.49||$20,909||$32,401||9.8 years|
|14 kW||$2.44||$23,896||$38,299||9.6 years|
|16 kW||$2.39||$26,741||$44,340||9.4 years|
|18 kW||$2.34||$29,444||$50,522||9.2 years|
|20 kW||$2.29||$32,004||$56,847||9.0 years|
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Hot Springs Village, 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.