Solar Panel Cost Guide in Maumelle, AR (2024 Update)
- Maumelle Solar Installation Cost: $20,489
- 25-Year Savings: $15,912
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Maumelle
We go over average solar pricing in Maumelle.
While the national average of solar panels is $2.66 per watt, solar panels in Maumelle generally cost around 3.Using this figure, a typical 8.4-kW system would cost about $20,489 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Maumelle based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Maumelle
| Year | Return on Investment |
|---|---|
| 1 years | $-19,033 |
| 3 years | $-16,121 |
| 5 years | $-13,209 |
| 7 years | $-10,297 |
| 9 years | $-7,385 |
| 11 years | $-4,473 |
| 13 years | $-1,561 |
| 15 years | $1,351 |
| 17 years | $4,264 |
| 19 years | $7,176 |
| 21 years | $10,088 |
| 23 years | $13,000 |
| 25 years | $15,912 |
Top Solar Installers in Maumelle
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make swapping over to solar power much easier. 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.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Maumelle
Factors that Affect Solar Panel Costs in Maumelle
For many Maumelle homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Maumelle, 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 Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines 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 typical energy use.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Maumelle average.
Solar Financing Terms
Many homeowners find the average cost of solar in Maumelle to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact your pricing. Maumelle’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.63 | $15,244 | $12,107 | 13.9 years |
| 8 kW | $3.56 | $19,935 | $16,533 | 13.7 years |
| 10 kW | $3.49 | $24,430 | $21,155 | 13.4 years |
| 12 kW | $3.42 | $28,730 | $25,972 | 13.1 years |
| 14 kW | $3.35 | $32,834 | $30,985 | 12.9 years |
| 16 kW | $3.28 | $36,743 | $36,193 | 12.6 years |
| 18 kW | $3.21 | $40,456 | $41,596 | 12.3 years |
| 20 kW | $3.14 | $43,974 | $47,196 | 12.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The model of solar panel you want plays a role in which installer you should go with, since different companies have access to different panels.
EcoWatch's Maumelle, AR Solar Cost FAQs
How much does it cost to install solar panels in Maumelle?
The average cost of solar panels in Maumelle is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Maumelle?
Leasing solar panels can be an appealing choice, as it often 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Maumelle, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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.