Solar Panel Cost Guide in Newport, AR (2024 Update)
- Newport Solar Installation Cost: $20,599
- 25-Year Savings: $22,826
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Newport
Here’s how much it might cost to go solar in Newport.
While the national average of solar panels is $2.66 per watt, solar panels in Newport typically cost around 3.The average Newport homeowner needs a 8.4-kilowatt system, which would cost about $20,599 with the federal tax credit, or $29,457 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Newport 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.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Newport see about $18,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Newport that can help you get a more accurate cost estimate for your home.
Solar savings over time in Newport
| Year | Return on Investment |
|---|---|
| 1 years | $-19,143 |
| 3 years | $-16,231 |
| 5 years | $-13,318 |
| 7 years | $-10,406 |
| 9 years | $-7,494 |
| 11 years | $-4,582 |
| 13 years | $-1,670 |
| 15 years | $1,242 |
| 17 years | $4,154 |
| 19 years | $7,066 |
| 21 years | $9,978 |
| 23 years | $12,891 |
| 25 years | $15,803 |
Top Solar Installers in Newport
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels on your own can be time-consuming. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Newport:
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 Newport
Factors that Affect Solar Panel Costs in Newport
Though the average cost of a solar system in Newport is $20,599, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Newport to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Newport, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Newport have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,667 | 14.2 years |
| 8 kW | $3.56 | $19,935 | $15,946 | 13.9 years |
| 10 kW | $3.49 | $24,430 | $20,422 | 13.6 years |
| 12 kW | $3.42 | $28,730 | $25,092 | 13.3 years |
| 14 kW | $3.35 | $32,834 | $29,958 | 13.1 years |
| 16 kW | $3.28 | $36,743 | $35,020 | 12.8 years |
| 18 kW | $3.21 | $40,456 | $40,277 | 12.5 years |
| 20 kW | $3.14 | $43,974 | $45,729 | 12.3 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Newport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Newport, AR Solar Cost FAQs
How much does it cost to install solar panels in Newport?
This is a difficult question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Newport?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.