Solar Panel Cost Guide in Sherwood, AR (2024 Update)

  • Sherwood Solar Installation Cost: $20,489
  • 25-Year Savings: $23,170
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Sherwood

Let’s have a look at the average cost of solar in Sherwood.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Sherwood, the average cost of solar panels is 3 per watt.To account for the typical energy usage of the average home in Sherwood, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $20,489, or $29,299 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.Even with the high initial cost, the average Sherwood homeowner can save around $17,000 on their power bills over 20 years, which is one of the positives of solar.

You can click the button below to get connected with a vetted solar installer in Sherwood for a quote for your home.

Solar savings over time in Sherwood

Year Return on Investment
1 years $-19,033
3 years $-16,121
5 years $-13,209
7 years $-10,297
9 years $-7,385
11 years $-4,473
13 years $-1,561
15 years $1,351
17 years $4,264
19 years $7,176
21 years $10,088
23 years $13,000
25 years $15,912

Top Solar Installers in Sherwood

Many homeowners opt for a solar installer since figuring out how to install solar panels yourself can be a labor-intensive endeavor. In addition, 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 installation and sometimes even information on local incentives, rebates and net metering programs.

You can get a free estimate from a local solar installer on how much your investment in solar could cost 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

★★★★★
3.2

  • 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 Sherwood

Factors that Affect Solar Panel Costs in Sherwood

There are several factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,490. There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Most solar installers in Sherwood provide solar loans, which reduce the initial cost of installing a solar system.While solar loans make switching to solar energy more accessible for Sherwood homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Sherwood, and each can charge different amounts for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price 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 decide on the company that offers the products, warranties and services you’re looking for and also fit into 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 $3.63 $15,244 $11,999 14.0 years
8 kW $3.56 $19,935 $16,390 13.7 years
10 kW $3.49 $24,430 $20,976 13.5 years
12 kW $3.42 $28,730 $25,757 13.2 years
14 kW $3.35 $32,834 $30,734 12.9 years
16 kW $3.28 $36,743 $35,907 12.6 years
18 kW $3.21 $40,456 $41,275 12.4 years
20 kW $3.14 $43,974 $46,838 12.1 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 a challenge, we have some tips to help you, such as:

  • Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
  • Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
  • Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.

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

★★★★★
3.2

  • 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 Sherwood, AR Solar Cost FAQs

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

This is a difficult question to answer precisely, because the cost depends on many 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is cost the most important thing to consider when buying solar panels?

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

How will having solar panels impact my home 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 Sherwood is currently $212,021, so you can expect a value of about $8,693 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Sherwood 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 usage and the amount of sunlight your roof gets. You can 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.

Follow us