Solar Panel Cost Guide in Paragould, AR (2024 Update)
- Paragould Solar Installation Cost: $20,872
- 25-Year Savings: $22,036
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Paragould
Let’s take a look at the average cost of solar panels in Paragould.
Although the national average of solar panels is $2.66 per watt, solar panels in Paragould generally cost around 3.To cover the typical energy needs of the average home in Paragould, most homeowners require a 8.5-kilowatt system. Using the figure above, a solar installation costs around $20,872, or $29,847 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary depending on a few factors, such as how many panels you need, your energy usage and what installation company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average Paragould homeowners see about $17,000 in savings on utility bills over 20 years.
To get a free estimate from a pre-vetted solar company in Paragould, you can click the button below.
Solar savings over time in Paragould
Year | Return on Investment |
---|---|
1 years | $-19,416 |
3 years | $-16,504 |
5 years | $-13,592 |
7 years | $-10,680 |
9 years | $-7,768 |
11 years | $-4,856 |
13 years | $-1,944 |
15 years | $968 |
17 years | $3,881 |
19 years | $6,793 |
21 years | $9,705 |
23 years | $12,617 |
25 years | $15,529 |
Top Solar Installers in Paragould
Although you can install solar panels by yourself, it requires extra energy and know-how. That's one of the reasons the majority of homeowners choose a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
While the average cost of a solar system in Paragould is $20,872, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,490.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher 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 limited 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
Many homeowners find the average cost of solar in Paragould to be prohibitively costly, 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 higher prices over time due to interest.Although solar loans make adopting solar energy more accessible for Paragould homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Paragould, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater 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 discount 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 | $10,899 | 14.6 years |
8 kW | $3.56 | $19,935 | $14,923 | 14.3 years |
10 kW | $3.49 | $24,430 | $19,142 | 14.0 years |
12 kW | $3.42 | $28,730 | $23,557 | 13.7 years |
14 kW | $3.35 | $32,834 | $28,167 | 13.5 years |
16 kW | $3.28 | $36,743 | $32,972 | 13.2 years |
18 kW | $3.21 | $40,456 | $37,973 | 12.9 years |
20 kW | $3.14 | $43,974 | $43,170 | 12.6 years |
How to Save on Solar Panels
There are many companies to choose from in Paragould, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: When making the switch to solar energy, it’s essential to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
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
What is the average cost of installing solar panels in Paragould?
The average cost of solar panels in Paragould is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Paragould is currently $181,566, which means you could be looking at a value of about $7,444 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Paragould is a fruitful investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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.