Solar Panel Cost Guide in Trumann, AR (2023 Update)
- Trumann Solar Installation Cost: $15,039
- 25-Year Savings: $21,961
- Payback Period: 10.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Trumann
We break down average solar pricing in Trumann.
The national average cost of solar panels is $2.66 per watt, but in Trumann it's 2.54 per watt. Using this figure, a typical 8.5-kW system would cost about $15,042 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Trumann depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront investment in solar panels is worth paying. On average Trumann homeowners see about $17,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar company in your area for a custom quote.
Solar savings over time in Trumann
| Year | Return on Investment |
|---|---|
| 1 years | $-13,583 |
| 3 years | $-10,671 |
| 5 years | $-7,759 |
| 7 years | $-4,846 |
| 9 years | $-1,934 |
| 11 years | $978 |
| 13 years | $3,890 |
| 15 years | $6,802 |
| 17 years | $9,714 |
| 19 years | $12,626 |
| 21 years | $15,538 |
| 23 years | $18,451 |
| 25 years | $21,363 |
Top Solar Installers in Trumann
Putting up solar panels yourself can be a stressful task, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
If you're searching for a solar company in Trumann, we've compiled a list of our top suggestions here:
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
There are several criteria that can influence your total 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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Trumann average.
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 Trumann homeowners decide to finance their solar panel systems to make paying for solar more affordable. While solar loans make switching to solar energy more accessible for Trumann homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Trumann is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount 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 | $15,151 | 10.6 years |
| 8 kW | $2.59 | $14,508 | $20,486 | 10.4 years |
| 10 kW | $2.54 | $17,780 | $25,963 | 10.2 years |
| 12 kW | $2.49 | $20,909 | $31,583 | 10.0 years |
| 14 kW | $2.44 | $23,896 | $37,344 | 9.8 years |
| 16 kW | $2.39 | $26,741 | $43,248 | 9.6 years |
| 18 kW | $2.34 | $29,444 | $49,294 | 9.3 years |
| 20 kW | $2.29 | $32,004 | $55,483 | 9.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The model of solar panel you need plays a part in which company you should opt for, since different companies offer different panels.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good 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 Trumann, AR Solar Cost FAQs
How much does it cost to install solar panels in Trumann?
The average cost of solar panels in Trumann 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Trumann?
You can't get solar panels for free in Trumann. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Trumann is currently $90,800, so you can look forward to a value of about $3,723 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Trumann is a rewarding investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.