Solar Panel Cost Guide in McGehee, AR (2024 Update)

  • McGehee Solar Installation Cost: $20,028
  • 25-Year Savings: $23,849
  • Payback Period: 13.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in McGehee

Find out what the average cost of installing solar panels is in McGehee.

The national average cost of solar panels is $2.66 per watt, but in McGehee it’s 3 per watt.Using this figure, a typical 8.2-kW system would cost about $20,028 before the 0 federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average McGehee homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing a solar system is a sound investment. The average homeowner in McGehee can save around $18,000 on their electricity bills over 20 years.

You can click the button below to get connected with a top solar installer in McGehee for a quote for your home.

Solar savings over time in McGehee

Year Return on Investment
1 years $-18,571
3 years $-15,659
5 years $-12,747
7 years $-9,835
9 years $-6,923
11 years $-4,011
13 years $-1,099
15 years $1,813
17 years $4,725
19 years $7,638
21 years $10,550
23 years $13,462
25 years $16,374

Top Solar Installers in McGehee

When making the switch to solar, many homeowners opt to hire a solar installer since overseeing your solar installation yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over time.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:

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

Tesla Energy

★★★★★
3.2

  • 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

See all of the solar companies in McGehee

Factors that Affect Solar Panel Costs in McGehee

Even though the average cost of a solar system in McGehee is $20,028, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like McGehee, where sunlight is abundant, efficiency can quickly pay off. Plus, 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

If paying for a solar system out of pocket is difficult, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

The solar installer you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.

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 $12,879 13.6 years
8 kW $3.56 $19,935 $17,562 13.3 years
10 kW $3.49 $24,430 $22,441 13.0 years
12 kW $3.42 $28,730 $27,516 12.8 years
14 kW $3.35 $32,834 $32,786 12.5 years
16 kW $3.28 $36,743 $38,252 12.2 years
18 kW $3.21 $40,456 $43,913 12.0 years
20 kW $3.14 $43,974 $49,769 11.7 years

How to Save on Solar Panels

The company that does your solar panel 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 tough decision, we have some tips to help you, such as:

  • Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
  • Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.

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

Tesla Energy

★★★★★
3.2

  • 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

EcoWatch's McGehee, AR Solar Cost FAQs

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

This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in McGehee?

Leasing solar panels can be an option if you can’t pay upfront or secure 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 financial benefits from going solar.

Can solar panels significantly reduce my energy bills?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout McGehee, that will require at least a 10-kW system. Not all homes will have the roof space for 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 long do solar panels last in McGehee?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

Follow us