Solar Panel Cost Guide in Searcy, AR (2024 Update)
- Searcy Solar Installation Cost: $20,646
- 25-Year Savings: $22,300
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Searcy
Find out what the average cost of a solar system is in Searcy.
In Searcy, solar panels cost about 3 per watt on average.The average Searcy homeowner needs a 8.5-kilowatt system, which would cost about $20,646 with the federal tax credit, or $29,524 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.But, after you've paid the upfront cost of installation, the savings 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 ROI and connect with a local solar expert, click the button below.
Solar savings over time in Searcy
| Year | Return on Investment |
|---|---|
| 1 years | $-19,190 |
| 3 years | $-16,278 |
| 5 years | $-13,366 |
| 7 years | $-10,453 |
| 9 years | $-7,541 |
| 11 years | $-4,629 |
| 13 years | $-1,717 |
| 15 years | $1,195 |
| 17 years | $4,107 |
| 19 years | $7,019 |
| 21 years | $9,931 |
| 23 years | $12,843 |
| 25 years | $15,756 |
Top Solar Installers in Searcy
Installing solar panels by yourself can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Searcy
Factors that Affect Solar Panel Costs in Searcy
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Searcy: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important 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 uses, the larger your system will likely need to be. You can expect to spend around $3,490 per kilowatt in Searcy.The model of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond 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 looking into a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Searcy homeowners choose to finance their solar panel systems to offset upfront costs.It’s a good idea to include 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Searcy, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better 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 promotion can bring their pricing lower 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 | $11,256 | 14.4 years |
| 8 kW | $3.56 | $19,935 | $15,399 | 14.1 years |
| 10 kW | $3.49 | $24,430 | $19,737 | 13.8 years |
| 12 kW | $3.42 | $28,730 | $24,271 | 13.6 years |
| 14 kW | $3.35 | $32,834 | $29,000 | 13.3 years |
| 16 kW | $3.28 | $36,743 | $33,924 | 13.0 years |
| 18 kW | $3.21 | $40,456 | $39,044 | 12.7 years |
| 20 kW | $3.14 | $43,974 | $44,360 | 12.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project timeline.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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 Searcy, AR Solar Cost FAQs
How much does it cost to install solar panels in Searcy?
This is a difficult question to answer precisely, 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Searcy?
Leasing solar panels can be an option if you can’t afford 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 home 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 financial benefits from going solar.
How will having solar panels impact my property value?
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 Searcy is currently $195,438, so you could be looking at a value of about $8,013 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Searcy is a rewarding investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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.