Solar Panel Cost Guide in Malvern, AR (Mar 2023)
- Malvern Solar Installation Cost: $14,900
- 25-Year Savings: $25,370
- Payback Period: 9.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Malvern
Find out what the average cost of a solar system is in Malvern.
In Malvern, solar panels cost about 2.54 per watt on average. The average Malvern homeowner needs a 8.4-kilowatt system, which would cost about $14,900 with the federal tax credit, or $21,307 before the 30% tax credit is applied.
The true cost of your system can go higher or lower than the average in Malvern depending on several factors, such as the type of solar panels you choose and the solar contractor you hire. Despite the significant upfront cost, the average Malvern homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in Malvern for a customized quote.
Solar savings over time in Malvern
| Year | Return on Investment |
|---|---|
| 1 years | $-13,289 |
| 3 years | $-10,067 |
| 5 years | $-6,846 |
| 7 years | $-3,624 |
| 9 years | $-402 |
| 11 years | $2,819 |
| 13 years | $6,041 |
| 15 years | $9,262 |
| 17 years | $12,484 |
| 19 years | $15,706 |
| 21 years | $18,927 |
| 23 years | $22,149 |
| 25 years | $25,370 |
Top Solar Installers in Malvern
Although it's possible to install solar panels by yourself, it takes extra time and expertise. That's why most homeowners choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to go solar but still aren't sure which solar installer to go with, here are our recommendations for providers in Malvern:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Malvern
Factors that Affect Solar Panel Costs in Malvern
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,540 per kilowatt in Malvern. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. While solar loans make adopting solar energy more accessible for Malvern homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Malvern, and each can charge different amounts for labor and equipment. Companies that only sell high-efficiency and high-priced 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 find a company that offers the products, warranties and services you want and also fits 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 | $17,745 | 9.6 years |
| 8 kW | $2.59 | $14,508 | $23,945 | 9.4 years |
| 10 kW | $2.54 | $17,780 | $30,286 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $36,770 | 9.1 years |
| 14 kW | $2.44 | $23,896 | $43,397 | 8.9 years |
| 16 kW | $2.39 | $26,741 | $50,165 | 8.7 years |
| 18 kW | $2.34 | $29,444 | $57,076 | 8.5 years |
| 20 kW | $2.29 | $32,004 | $64,129 | 8.3 years |
How to Save on Solar Panels
There are many companies to choose from in Malvern, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you care about the durability of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Malvern, AR Solar Cost FAQs
How much does it cost to install solar panels in Malvern?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Malvern?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Malvern have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.