Solar Panel Cost Guide in Prairie Grove, AR (2024 Update)
- Prairie Grove Solar Installation Cost: $20,977
- 25-Year Savings: $20,529
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Prairie Grove
Let’s take a look at the average cost of solar panels in Prairie Grove.
In Prairie Grove, solar panels cost about 3 per watt on average.Using this figure, a typical 8.6-kW system would cost about $20,977 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average Prairie Grove homeowners see about $16,000 in savings on energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Prairie Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-19,629 |
| 3 years | $-16,932 |
| 5 years | $-14,235 |
| 7 years | $-11,537 |
| 9 years | $-8,840 |
| 11 years | $-6,143 |
| 13 years | $-3,446 |
| 15 years | $-749 |
| 17 years | $1,948 |
| 19 years | $4,645 |
| 21 years | $7,342 |
| 23 years | $10,039 |
| 25 years | $12,736 |
Top Solar Installers in Prairie Grove
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make switching to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- 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
- 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 Prairie Grove
Factors that Affect Solar Panel Costs in Prairie Grove
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Prairie Grove: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make switching to solar energy more accessible for Prairie Grove homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Prairie Grove are more knowledgeable about local solar incentives and can help you make good use 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 | $9,768 | 15.2 years |
| 8 kW | $3.56 | $19,935 | $13,415 | 14.9 years |
| 10 kW | $3.49 | $24,430 | $17,258 | 14.7 years |
| 12 kW | $3.42 | $28,730 | $21,295 | 14.4 years |
| 14 kW | $3.35 | $32,834 | $25,529 | 14.1 years |
| 16 kW | $3.28 | $36,743 | $29,957 | 13.8 years |
| 18 kW | $3.21 | $40,456 | $34,581 | 13.5 years |
| 20 kW | $3.14 | $43,974 | $39,401 | 13.2 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 selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: If you care about the longevity of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
Best National Provider
SunPower
- 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
- 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 Prairie Grove, AR Solar Cost FAQs
How much does it cost to install solar panels in Prairie Grove?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Prairie Grove?
Leasing solar panels can be an attractive choice, as it usually 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 significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 buy 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.