Solar Panel Cost Guide in West Memphis, AR (2023 Update)
- West Memphis Solar Installation Cost: $15,042
- 25-Year Savings: $17,485
- Payback Period: 11.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in West Memphis
Find out what the average cost of a solar system is in West Memphis.
The national average cost of solar panels is $2.66 per watt, but in West Memphis it's 2.54 per watt. Because a 8.5-kW system is needed to cover the energy usage of a typical home in West Memphis, the average price of going solar will be about $15,042 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you will most likely look different based on your specific situation and what company you go with. With average savings of about $15,000 on power bills over 20 years, many homeowners in West Memphis find investing in solar can be quite rewarding.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in West Memphis
| Year | Return on Investment |
|---|---|
| 1 years | $-13,741 |
| 3 years | $-11,139 |
| 5 years | $-8,536 |
| 7 years | $-5,934 |
| 9 years | $-3,332 |
| 11 years | $-730 |
| 13 years | $1,872 |
| 15 years | $4,474 |
| 17 years | $7,077 |
| 19 years | $9,679 |
| 21 years | $12,281 |
| 23 years | $14,883 |
| 25 years | $17,485 |
Top Solar Installers in West Memphis
Many homeowners choose to hire a solar panel installer since installing solar panels by yourself can be a lot of work. Some solar installers, especially local ones, can help you better understand incentives in West Memphis, optimizing your ROI.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 West Memphis
Factors that Affect Solar Panel Costs in West Memphis
The cost of installing a solar system in West Memphis can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the West Memphis average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in West Memphis, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $11,983 | 12.0 years |
| 8 kW | $2.59 | $14,508 | $16,261 | 11.8 years |
| 10 kW | $2.54 | $17,780 | $20,682 | 11.6 years |
| 12 kW | $2.49 | $20,909 | $25,245 | 11.3 years |
| 14 kW | $2.44 | $23,896 | $29,951 | 11.1 years |
| 16 kW | $2.39 | $26,741 | $34,798 | 10.9 years |
| 18 kW | $2.34 | $29,444 | $39,788 | 10.6 years |
| 20 kW | $2.29 | $32,004 | $44,920 | 10.4 years |
How to Save on Solar Panels
The solar panel company you opt for will impact 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: Read the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
- 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: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
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 West Memphis, AR Solar Cost FAQs
What is the average cost of installing solar panels in West Memphis?
The average cost of solar panels in West Memphis is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in West Memphis?
A solar panel system isn't free in West Memphis, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in West Memphis?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 install between 20 and 35 panels to account for 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.