Solar Panel Cost Guide in Magnolia, AR (Oct 2022)

  • Magnolia Solar Installation Cost: $14,526
  • 25-Year Savings: $23,218
  • Payback Period: 9.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Magnolia

We break down average solar pricing in Magnolia.

The national average cost of solar panels is $2.66 per watt, but in Magnolia it's $3 per watt. Using this figure, a typical 8.2 would cost about $14,526 before the 30% federal solar tax credit is applied.

The actual price you pay can be above or below the average in Magnolia depending on a few factors, such as the type of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Magnolia see about $18,000 in savings on energy bills over 20 years.

To get a free estimate from a vetted solar company in Magnolia, you can click the button below.

Solar savings over time in Magnolia

Year Return on Investment
1 years $-13,016
3 years $-9,997
5 years $-6,977
7 years $-3,958
9 years $-938
11 years $2,081
13 years $5,101
15 years $8,121
17 years $11,140
19 years $14,160
21 years $17,179
23 years $20,199
25 years $23,218

Top Solar Installers in Magnolia

Many homeowners decide to use a solar installer since trying to install solar panels on your own can be challenging. Plus, if you'd like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives.

If you're searching for a solar company in Magnolia, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

The Green Panel

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Magnolia

Factors that Affect Solar Panel Costs in Magnolia

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Magnolia: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment Size

Size is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

Most solar companies in Magnolia provide solar loans, which reduce your upfront costs of installing a solar system. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

The final major cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Magnolia, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also is within your budget.

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 $16,632 10.0 years
8 kW $2.59 $14,508 $22,460 9.8 years
10 kW $2.54 $17,780 $28,431 9.6 years
12 kW $2.49 $20,909 $34,544 9.4 years
14 kW $2.44 $23,896 $40,799 9.2 years
16 kW $2.39 $26,741 $47,196 9.0 years
18 kW $2.34 $29,444 $53,736 8.8 years
20 kW $2.29 $32,004 $60,417 8.7 years

Solar Incentives in Magnolia

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the kind of solar panels and the company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • 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

The Green Panel

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Magnolia, AR Solar Cost FAQs

How much does it cost to install solar panels in Magnolia?

This is a tough question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

What other factors should I consider in addition to cost when buying solar panels?

The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Is making the switch to solar worth it?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of 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 continue to use 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.

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