Solar Panel Cost Guide in Sherwood, AR (Nov 2022)

  • Sherwood Solar Installation Cost: $14,917
  • 25-Year Savings: $23,165
  • Payback Period: 9.8 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Sherwood

Here's how much it might cost to make the switch to solar in Sherwood.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Sherwood, the typical cost of a solar system is $3 per watt. The average Sherwood homeowner needs a 8.4-kilowatt system, which would cost about $14,917, or $11,039 after the federal solar tax credit of 30% is applied.

Keep in mind that the figures above are only estimates based on the average Sherwood homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on electricity bills.

For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Sherwood

Year Return on Investment
1 years $-13,394
3 years $-10,348
5 years $-7,301
7 years $-4,254
9 years $-1,208
11 years $1,839
13 years $4,885
15 years $7,932
17 years $10,979
19 years $14,025
21 years $17,072
23 years $20,118
25 years $23,165

Top Solar Installers in Sherwood

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. Going with a solar company can make converting to solar power much easier. Another great thing about going with a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.

You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Sherwood:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Sherwood

Factors that Affect Solar Panel Costs in Sherwood

For many Sherwood homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Sherwood, 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 is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Sherwood homeowners opt to finance their solar panel systems to make paying for solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The last significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Sherwood, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also is within your budget.

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 $16,149 10.2 years
8 kW $2.59 $14,508 $21,816 10.0 years
10 kW $2.54 $17,780 $27,626 9.8 years
12 kW $2.49 $20,909 $33,578 9.6 years
14 kW $2.44 $23,896 $39,672 9.4 years
16 kW $2.39 $26,741 $45,908 9.2 years
18 kW $2.34 $29,444 $52,287 9.0 years
20 kW $2.29 $32,004 $58,808 8.8 years

How to Save on Solar Panels

There are numerous companies available in Sherwood, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:

  • Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
  • Warranty: If you're concerned about the endurance of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Sherwood, AR Solar Cost FAQs

What is the average cost of installing solar panels in Sherwood?

This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is cost the most important consideration when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Does Sherwood have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and the average daily 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 get 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.

solar panel and sunny sky
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