Solar Panel Cost Guide in Sheridan, AR (2023 Update)
- Sheridan Solar Installation Cost: $14,811
- 25-Year Savings: $23,834
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Sheridan
Find out what the average cost of installing solar panels is in Sheridan.
The average cost of a solar panel system in Sheridan is 2.54 per watt. The average Sheridan homeowner needs a 8.3-kilowatt system, which would cost about $14,811 with the federal tax credit, or $21,180 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Sheridan can save about $18,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Sheridan
| Year | Return on Investment |
|---|---|
| 1 years | $-13,265 |
| 3 years | $-10,173 |
| 5 years | $-7,082 |
| 7 years | $-3,990 |
| 9 years | $-899 |
| 11 years | $2,193 |
| 13 years | $5,285 |
| 15 years | $8,376 |
| 17 years | $11,468 |
| 19 years | $14,559 |
| 21 years | $17,651 |
| 23 years | $20,743 |
| 25 years | $23,834 |
Top Solar Installers in Sheridan
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar company can make your switch to solar power much easier. Also, if you'd like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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
There are many factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Sheridan. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Sheridan to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact your pricing. Sheridan's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $2.64 | $11,095 | $16,728 | 10.0 years |
| 8 kW | $2.59 | $14,508 | $22,589 | 9.8 years |
| 10 kW | $2.54 | $17,780 | $28,591 | 9.6 years |
| 12 kW | $2.49 | $20,909 | $34,736 | 9.4 years |
| 14 kW | $2.44 | $23,896 | $41,024 | 9.2 years |
| 16 kW | $2.39 | $26,741 | $47,453 | 9.0 years |
| 18 kW | $2.34 | $29,444 | $54,025 | 8.8 years |
| 20 kW | $2.29 | $32,004 | $60,739 | 8.6 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: If you care about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability 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.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of 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.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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?
The average cost of solar panels in Sheridan is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Sheridan?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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.