Solar Panel Cost Guide in Mena, AR (2023 Update)
- Mena Solar Installation Cost: $15,237
- 25-Year Savings: $23,397
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mena
Let's take a look at the average cost of solar in Mena.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mena, the typical cost of solar panels is 2.54 per watt. The average Mena homeowner needs a 8.6-kilowatt system, which would cost about $15,237 with the federal tax credit, or $21,789 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying 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 $17,000 on power bills over 20 years, many homeowners in Mena find installing solar panels has a decent ROI.
Click the button below to get connected to a vetted solar company in Mena for a customized estimate.
Solar savings over time in Mena
| Year | Return on Investment |
|---|---|
| 1 years | $-13,692 |
| 3 years | $-10,601 |
| 5 years | $-7,511 |
| 7 years | $-4,420 |
| 9 years | $-1,329 |
| 11 years | $1,762 |
| 13 years | $4,852 |
| 15 years | $7,943 |
| 17 years | $11,034 |
| 19 years | $14,125 |
| 21 years | $17,216 |
| 23 years | $20,306 |
| 25 years | $23,397 |
Top Solar Installers in Mena
Installing solar panels yourself can be a time-consuming task, which is why using a solar installation company is a good option for many homeowners. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for your home.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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
See all of the solar companies in Mena
Factors that Affect Solar Panel Costs in Mena
There are several factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs 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 consumes, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Mena. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Mena, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Mena homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Mena, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, 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 | $2.64 | $11,095 | $15,943 | 10.3 years |
| 8 kW | $2.59 | $14,508 | $21,542 | 10.1 years |
| 10 kW | $2.54 | $17,780 | $27,283 | 9.9 years |
| 12 kW | $2.49 | $20,909 | $33,166 | 9.7 years |
| 14 kW | $2.44 | $23,896 | $39,191 | 9.5 years |
| 16 kW | $2.39 | $26,741 | $45,359 | 9.3 years |
| 18 kW | $2.34 | $29,444 | $51,669 | 9.1 years |
| 20 kW | $2.29 | $32,004 | $58,121 | 8.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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
EcoWatch's Mena, AR Solar Cost FAQs
How much does it cost to install solar panels in Mena?
The average cost of solar panels in Mena is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model 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 Mena?
Leasing solar panels can be an attractive 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 way to go if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Mena?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.