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
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Average Cost of Solar Panels in Sherwood
Let’s have a look at the average cost of solar in Sherwood.
The average cost of a solar panel system in Sherwood is 3 per watt.To account for the typical energy needs of the average home in Sherwood, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,489, or $29,299 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Sherwood homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $17,000 in savings on utility bills over 20 years.
For a free quote from a local solar installer 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 | $-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
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make your swap to solar power much easier. Also, if you’d like to maximize your investment in solar power, using a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you’d like to start using solar energy but still aren’t certain which solar system company to go with, here are our recommendations for providers in Sherwood:
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 Sherwood
Factors that Affect Solar Panel Costs in Sherwood
Although the average cost of a solar system in Sherwood is $20,489, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,490 per kilowatt in Sherwood.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Sherwood average.
Solar Financing Terms
Many homeowners find the average cost of solar in Sherwood to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Sherwood, and each can charge varying amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that provides the products, warranties and services you want 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 solar installer you opt for will affect 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 a few important things you should consider, including:
- Installation Process: When making the switch to solar energy, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
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 Sherwood, AR Solar Cost FAQs
How much does it cost to install solar panels in Sherwood?
The average cost of solar panels in Sherwood is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely 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?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 average daily 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 get between 20 and 35 panels to account for 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.