Solar Panel Cost Guide in Van Buren, AR (Mar 2023)
- Van Buren Solar Installation Cost: $15,113
- 25-Year Savings: $19,292
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Van Buren
Find out how much it might cost to install solar panels in Van Buren.
The national average cost of solar panels is $2.66 per watt, but in Van Buren it's 2.54 per watt. The average Van Buren homeowner needs a 8.5-kilowatt system, which would cost about $15,113 with the federal tax credit, or $21,612 before the 30% tax credit is applied.
These figures are only estimates, and how much solar costs for you may look different based on the amount of energy your home requires and what company you want to go with. Despite the significant initial cost, the average Van Buren homeowner can save around $15,000 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 Van Buren for a quote for your home.
Solar savings over time in Van Buren
| Year | Return on Investment |
|---|---|
| 1 years | $-13,737 |
| 3 years | $-10,984 |
| 5 years | $-8,232 |
| 7 years | $-5,480 |
| 9 years | $-2,727 |
| 11 years | $25 |
| 13 years | $2,778 |
| 15 years | $5,530 |
| 17 years | $8,283 |
| 19 years | $11,035 |
| 21 years | $13,787 |
| 23 years | $16,540 |
| 25 years | $19,292 |
Top Solar Installers in Van Buren
When switching to solar energy, many homeowners decide to hire a solar company since handling can be a time-consuming project. Another great thing about choosing a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you're searching for a solar installer in Van Buren, the EcoWatch team has put together 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Van Buren
Factors that Affect Solar Panel Costs in Van Buren
For many Van Buren homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Van Buren, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over 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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,540 per kilowatt in Van Buren. The type of 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, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Van Buren average.
Solar Financing Terms
Most solar companies in Van Buren have solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect your pricing. Van Buren's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Van Buren know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $13,177 | 11.4 years |
| 8 kW | $2.59 | $14,508 | $17,854 | 11.2 years |
| 10 kW | $2.54 | $17,780 | $22,673 | 11.0 years |
| 12 kW | $2.49 | $20,909 | $27,635 | 10.8 years |
| 14 kW | $2.44 | $23,896 | $32,738 | 10.5 years |
| 16 kW | $2.39 | $26,741 | $37,984 | 10.3 years |
| 18 kW | $2.34 | $29,444 | $43,372 | 10.1 years |
| 20 kW | $2.29 | $32,004 | $48,903 | 9.9 years |
How to Save on Solar Panels
There are many 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:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- 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 choose.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Van Buren, AR Solar Cost FAQs
What is the average cost of installing solar panels in Van Buren?
This is a difficult question to answer exactly, because the cost depends on many 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Van Buren?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $809.07 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.