Solar Panel Cost Guide in Paragould, AR (2023 Update)
- Paragould Solar Installation Cost: $15,184
- 25-Year Savings: $22,043
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Paragould
Let's have a look at the average cost of solar panels in Paragould.
The national average cost of solar panels is $2.66 per watt, but in Paragould it's 2.54 per watt. The average solar panel system size in Paragould is around 8.5 kilowatts, meaning a cost of about $15,184 for a solar installation, or $21,713 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on power bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Paragould
| Year | Return on Investment |
|---|---|
| 1 years | $-13,695 |
| 3 years | $-10,717 |
| 5 years | $-7,739 |
| 7 years | $-4,761 |
| 9 years | $-1,782 |
| 11 years | $1,196 |
| 13 years | $4,174 |
| 15 years | $7,152 |
| 17 years | $10,130 |
| 19 years | $13,108 |
| 21 years | $16,087 |
| 23 years | $19,065 |
| 25 years | $22,043 |
Top Solar Installers in Paragould
Although it's possible to install solar panels yourself, it requires extra energy and knowledge. For that reason, the majority of homeowners choose a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Paragould, thereby optimizing your ROI.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Paragould
Factors that Affect Solar Panel Costs in Paragould
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Paragould: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Paragould. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Paragould, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
Many homeowners find the average cost of solar in Paragould to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence how much it costs. Paragould's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger 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 | $2.64 | $11,095 | $15,048 | 10.6 years |
| 8 kW | $2.59 | $14,508 | $20,349 | 10.4 years |
| 10 kW | $2.54 | $17,780 | $25,792 | 10.2 years |
| 12 kW | $2.49 | $20,909 | $31,377 | 10.0 years |
| 14 kW | $2.44 | $23,896 | $37,104 | 9.8 years |
| 16 kW | $2.39 | $26,741 | $42,974 | 9.6 years |
| 18 kW | $2.34 | $29,444 | $48,986 | 9.4 years |
| 20 kW | $2.29 | $32,004 | $55,140 | 9.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
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 Paragould, AR Solar Cost FAQs
How much does it cost to install solar panels in Paragould?
The average cost of solar panels in Paragould is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Paragould?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 savings from going solar.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Paragould is currently $124,900, which means you can look forward to a value of about $5,121 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Paragould is a rewarding investment.
What solar power system size is right for 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 get between 20 and 35 panels to account for 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.