Solar Panel Cost Guide in Russellville, AR (Aug 2022)
- Russellville Solar Installation Cost: $16,033
- 25-Year Savings: $21,338
- Payback Period: 10.7 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Russellville
Let's take a look at the average cost of solar in Russellville.
In Russellville, solar panels cost about $3 per watt on average. Using this figure, a typical 8.5 would cost about $16,033 before the federal solar tax credit is applied.
These figures are just averages, and your own solar costs will look different based on factors unique to your home and what company you want to go with. Even with the significant initial cost, the average Russellville homeowner can save around $17,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in your area for a personalized estimate.
Solar savings over time in Russellville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,538 |
| 3 years | $-11,549 |
| 5 years | $-8,559 |
| 7 years | $-5,569 |
| 9 years | $-2,580 |
| 11 years | $410 |
| 13 years | $3,400 |
| 15 years | $6,389 |
| 17 years | $9,379 |
| 19 years | $12,369 |
| 21 years | $15,358 |
| 23 years | $18,348 |
| 25 years | $21,338 |
Top Solar Installers in Russellville
Although it's possible to install solar panels on your own, it involves extra time and knowledge. That's why most people choose to hire a solar panel installer. The payback period of solar panels will vary depending on factors like your roof configuration and energy use, but working with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
Best Technology
The Green Panel
- 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Russellville
Factors that Affect Solar Panel Costs in Russellville
For many Russellville homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Russellville, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment Size
The size of the system you need is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The model of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions 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 researching a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Russellville homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increase your all-in costs, so it's important to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Russellville, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $11,729 | $14,547 | 11.2 years |
| 8 kW | $2.59 | $15,338 | $19,697 | 10.9 years |
| 10 kW | $2.54 | $18,796 | $24,997 | 10.7 years |
| 12 kW | $2.49 | $22,104 | $30,447 | 10.5 years |
| 14 kW | $2.44 | $25,262 | $36,048 | 10.3 years |
| 16 kW | $2.39 | $28,269 | $41,800 | 10.1 years |
| 18 kW | $2.34 | $31,126 | $47,701 | 9.9 years |
| 20 kW | $2.29 | $33,833 | $53,753 | 9.7 years |
Solar Incentives in Russellville
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
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. Since choosing a company can be difficult, we have some tips to help you, such as:
- 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
Best Technology
The Green Panel
- 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Russellville, AR Solar Cost FAQs
How much does it cost to install solar panels in Russellville?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Russellville?
You can't get solar panels for free in Russellville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Russellville, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.
