Solar Panel Cost Guide in Waldron, AR (2023 Update)
- Waldron Solar Installation Cost: $15,060
- 25-Year Savings: $19,926
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Waldron
Find out what the average cost of solar panels are in Waldron.
In Waldron, solar panels cost about 2.54 per watt on average. Since a 8.5-kW system is needed to cover the energy usage of a typical home in Waldron, the average price of going solar will be about $15,060 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. With typical savings of about $16,000 on power bills over 20 years, many homeowners in Waldron find going solar can pay off big.
Click the button below to get connected to a top solar installer in Waldron for a personalized quote.
Solar savings over time in Waldron
| Year | Return on Investment |
|---|---|
| 1 years | $-13,660 |
| 3 years | $-10,861 |
| 5 years | $-8,063 |
| 7 years | $-5,264 |
| 9 years | $-2,465 |
| 11 years | $334 |
| 13 years | $3,133 |
| 15 years | $5,931 |
| 17 years | $8,730 |
| 19 years | $11,529 |
| 21 years | $14,328 |
| 23 years | $17,127 |
| 25 years | $19,926 |
Top Solar Installers in Waldron
When making the switch to solar, many homeowners opt to hire a solar installer since handling can be a challenging project. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for your family.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Waldron
Factors that Affect Solar Panel Costs in Waldron
There are a number of criteria that can play into your solar panel 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
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 energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Waldron. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Waldron, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $13,699 | 11.2 years |
| 8 kW | $2.59 | $14,508 | $18,550 | 11.0 years |
| 10 kW | $2.54 | $17,780 | $23,543 | 10.8 years |
| 12 kW | $2.49 | $20,909 | $28,678 | 10.5 years |
| 14 kW | $2.44 | $23,896 | $33,955 | 10.3 years |
| 16 kW | $2.39 | $26,741 | $39,375 | 10.1 years |
| 18 kW | $2.34 | $29,444 | $44,937 | 9.9 years |
| 20 kW | $2.29 | $32,004 | $50,641 | 9.7 years |
How to Save on Solar Panels
The solar company you choose will impact not only your total 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, including:
- Contract: Although 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 how part repairs and replacements will be handled.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Waldron, AR Solar Cost FAQs
How much does it cost to install solar panels in Waldron?
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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities 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.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Waldron, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Waldron?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable 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 once you've had 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.