Solar Panel Cost Guide in Marion, AR (2023 Update)
- Marion Solar Installation Cost: $15,042
- 25-Year Savings: $17,805
- Payback Period: 11.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Marion
Find out what the average cost of a solar system is in Marion.
The average cost of solar panels in Marion is 2.54 per watt. To account for the typical energy usage of the average home in Marion, most homeowners require a 8.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,042, or $21,510 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more. With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Marion find installing solar panels has a decent ROI.
Click the button below to get connected to a vetted solar installer in Marion for a customized quote.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-13,728 |
| 3 years | $-11,100 |
| 5 years | $-8,473 |
| 7 years | $-5,845 |
| 9 years | $-3,217 |
| 11 years | $-589 |
| 13 years | $2,038 |
| 15 years | $4,666 |
| 17 years | $7,294 |
| 19 years | $9,922 |
| 21 years | $12,549 |
| 23 years | $15,177 |
| 25 years | $17,805 |
Top Solar Installers in Marion
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make converting to solar power much easier. Plus, if you're not certain what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Marion
Factors that Affect Solar Panel Costs in Marion
For many Marion homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Marion, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. The brand and type of equipment you get 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Marion have solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Marion is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different costs. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for 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 | $12,209 | 11.9 years |
| 8 kW | $2.59 | $14,508 | $16,563 | 11.7 years |
| 10 kW | $2.54 | $17,780 | $21,060 | 11.4 years |
| 12 kW | $2.49 | $20,909 | $25,699 | 11.2 years |
| 14 kW | $2.44 | $23,896 | $30,480 | 11.0 years |
| 16 kW | $2.39 | $26,741 | $35,403 | 10.8 years |
| 18 kW | $2.34 | $29,444 | $40,468 | 10.5 years |
| 20 kW | $2.29 | $32,004 | $45,676 | 10.3 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Warranty: If you care about the longevity of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
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 Marion, AR Solar Cost FAQs
What is the average cost of installing solar panels in Marion?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Marion?
Leasing solar panels can be an appealing choice, as it commonly 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.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels should I get 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 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.