Solar Panel Cost Guide in Walnut Ridge, AR (2024 Update)
- Walnut Ridge Solar Installation Cost: $20,798
- 25-Year Savings: $23,701
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Walnut Ridge
Find out what the average cost of solar panel installation is in Walnut Ridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Walnut Ridge, the typical cost of solar panels is 3 per watt.The average solar panel system size in Walnut Ridge is around 8.5 kilowatts, meaning a cost of about $20,798 for a solar installation, or $29,741 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with.Many homeowners find going solar is a sound investment. The average homeowner in Walnut Ridge can save around $17,000 on their electricity bills over 20 years.
To receive a free estimate from a highly rated solar installation company in Walnut Ridge, you can click the button below.
Solar savings over time in Walnut Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-19,342 |
| 3 years | $-16,430 |
| 5 years | $-13,518 |
| 7 years | $-10,606 |
| 9 years | $-7,693 |
| 11 years | $-4,781 |
| 13 years | $-1,869 |
| 15 years | $1,043 |
| 17 years | $3,955 |
| 19 years | $6,867 |
| 21 years | $9,779 |
| 23 years | $12,691 |
| 25 years | $15,604 |
Top Solar Installers in Walnut Ridge
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring an installer can make swapping over to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers nearby:
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 Walnut Ridge
Factors that Affect Solar Panel Costs in Walnut Ridge
Even though the average cost of a solar system in Walnut Ridge is $20,798, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Walnut Ridge, 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
Many homeowners find the average cost of solar in Walnut Ridge to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.However, the interest on solar loans also adds to your total costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you select will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Walnut Ridge know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $3.63 | $15,244 | $12,127 | 13.9 years |
| 8 kW | $3.56 | $19,935 | $16,561 | 13.7 years |
| 10 kW | $3.49 | $24,430 | $21,190 | 13.4 years |
| 12 kW | $3.42 | $28,730 | $26,014 | 13.1 years |
| 14 kW | $3.35 | $32,834 | $31,033 | 12.9 years |
| 16 kW | $3.28 | $36,743 | $36,249 | 12.6 years |
| 18 kW | $3.21 | $40,456 | $41,659 | 12.3 years |
| 20 kW | $3.14 | $43,974 | $47,265 | 12.0 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Installation Process: An important thing 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.
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 Walnut Ridge, AR Solar Cost FAQs
What is the average cost of installing solar panels in Walnut Ridge?
This is a tough question to answer precisely, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Walnut Ridge?
You can’t get solar panels for free in Walnut Ridge. However, you may still be able to get 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.
Does Walnut Ridge have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Walnut Ridge?
On average, the lifespan of solar panels is 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 higher level 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.