Solar Panel Cost Guide in Sheridan, AR (2024 Update)
- Sheridan Solar Installation Cost: $20,359
- 25-Year Savings: $23,828
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Sheridan
Find out how much it might cost to make the switch to solar in Sheridan.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Sheridan, the average cost of a solar system is 3 per watt.Using this figure, a typical 8.3-kW system would cost about $20,359 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what solar installer you go with.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Sheridan see about $18,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Sheridan
| Year | Return on Investment |
|---|---|
| 1 years | $-18,903 |
| 3 years | $-15,991 |
| 5 years | $-13,079 |
| 7 years | $-10,167 |
| 9 years | $-7,255 |
| 11 years | $-4,343 |
| 13 years | $-1,431 |
| 15 years | $1,481 |
| 17 years | $4,394 |
| 19 years | $7,306 |
| 21 years | $10,218 |
| 23 years | $13,130 |
| 25 years | $16,042 |
Top Solar Installers in Sheridan
When making the switch to solar, many homeowners decide to use a solar installation company since overseeing your solar installation yourself can be a difficult project. The expertise that solar installers provide can be valuable as well, especially if you aren’t sure what kind of solar equipment you need.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Sheridan
Factors that Affect Solar Panel Costs in Sheridan
The cost of installing a solar system in Sheridan can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Sheridan, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $3,490 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Sheridan average.
Solar Financing Terms
Most solar installers in Sheridan provide solar loans, which reduce your upfront costs of installing a solar system.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Sheridan is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services at different costs.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $12,578 | 13.7 years |
| 8 kW | $3.56 | $19,935 | $17,162 | 13.4 years |
| 10 kW | $3.49 | $24,430 | $21,941 | 13.2 years |
| 12 kW | $3.42 | $28,730 | $26,916 | 12.9 years |
| 14 kW | $3.35 | $32,834 | $32,086 | 12.6 years |
| 16 kW | $3.28 | $36,743 | $37,451 | 12.4 years |
| 18 kW | $3.21 | $40,456 | $43,012 | 12.1 years |
| 20 kW | $3.14 | $43,974 | $48,769 | 11.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Review the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
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 Sheridan, AR Solar Cost FAQs
What is the average cost of installing solar panels in Sheridan?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Sheridan?
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 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 savings from going solar.
Can you sell solar power back to the grid in Sheridan?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 house 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.