Solar Panel Cost Guide in Trumann, AR (2024 Update)
- Trumann Solar Installation Cost: $20,664
- 25-Year Savings: $21,961
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Trumann
Find out how much it might cost to go solar in Trumann.
In Trumann, solar panels cost about 3 per watt on average.The average Trumann homeowner needs a 8.5-kilowatt system, which would cost about $20,664 with the federal tax credit, or $29,550 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Trumann homeowner. The cost of a solar system for your home may be 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 savings for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar panel company in Trumann for a personalized quote.
Solar savings over time in Trumann
| Year | Return on Investment |
|---|---|
| 1 years | $-19,208 |
| 3 years | $-16,295 |
| 5 years | $-13,383 |
| 7 years | $-10,471 |
| 9 years | $-7,559 |
| 11 years | $-4,647 |
| 13 years | $-1,735 |
| 15 years | $1,177 |
| 17 years | $4,089 |
| 19 years | $7,002 |
| 21 years | $9,914 |
| 23 years | $12,826 |
| 25 years | $15,738 |
Top Solar Installers in Trumann
Although you can install solar panels yourself, it requires extra time and handiness. That's why most homeowners choose to hire a solar panel installer. Another great thing about using a top solar installer is that it'll provide warranties and free repairs, which help protect your investment.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Trumann
Factors that Affect Solar Panel Costs in Trumann
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Trumann: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $3,490 per kilowatt in Trumann.There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Trumann to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time because of 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
The solar company you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. 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 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 | $3.63 | $15,244 | $11,002 | 14.5 years |
| 8 kW | $3.56 | $19,935 | $15,060 | 14.2 years |
| 10 kW | $3.49 | $24,430 | $19,313 | 14.0 years |
| 12 kW | $3.42 | $28,730 | $23,762 | 13.7 years |
| 14 kW | $3.35 | $32,834 | $28,407 | 13.4 years |
| 16 kW | $3.28 | $36,743 | $33,247 | 13.1 years |
| 18 kW | $3.21 | $40,456 | $38,282 | 12.8 years |
| 20 kW | $3.14 | $43,974 | $43,513 | 12.6 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Contract: Even though reading through a contract can be tedious, 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: Different companies will offer various brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- 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 good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Trumann, AR Solar Cost FAQs
What is the average cost of installing solar panels in Trumann?
This is a hard question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Trumann?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
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 how much 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 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.