Solar Panel Cost Guide in West Memphis, AR (2024 Update)
- West Memphis Solar Installation Cost: $20,660
- 25-Year Savings: $17,491
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in West Memphis
We break down average solar pricing in West Memphis.
In West Memphis, solar panels cost about 3 per watt on average.To cover the typical energy needs of the average home in West Memphis, most homeowners require a 8.5-kilowatt system. Using the figure above, a solar installation costs about $20,660, or $29,544 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of West Memphis homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $15,000 on utility bills over 20 years, many homeowners in West Memphis find installing solar panels has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in West Memphis for a quote for your home.
Solar savings over time in West Memphis
| Year | Return on Investment |
|---|---|
| 1 years | $-19,204 |
| 3 years | $-16,292 |
| 5 years | $-13,380 |
| 7 years | $-10,468 |
| 9 years | $-7,556 |
| 11 years | $-4,644 |
| 13 years | $-1,731 |
| 15 years | $1,181 |
| 17 years | $4,093 |
| 19 years | $7,005 |
| 21 years | $9,917 |
| 23 years | $12,829 |
| 25 years | $15,741 |
Top Solar Installers in West Memphis
Although it's possible to install solar panels on your own, it involves extra energy and handiness. Because of that, most people choose to hire a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you’d like to switch to solar energy but still aren’t sure which solar panel installer 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 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 is determined by several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important 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 uses, the larger your system will likely need to be. You can expect to pay about $3,490 per kilowatt in West Memphis.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 choose 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, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the West Memphis average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in West Memphis, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in West Memphis, you’ll have many options to choose from, but each comes at different price points for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $7,833 | 16.5 years |
| 8 kW | $3.56 | $19,935 | $10,835 | 16.2 years |
| 10 kW | $3.49 | $24,430 | $14,032 | 15.9 years |
| 12 kW | $3.42 | $28,730 | $17,425 | 15.6 years |
| 14 kW | $3.35 | $32,834 | $21,013 | 15.2 years |
| 16 kW | $3.28 | $36,743 | $24,797 | 14.9 years |
| 18 kW | $3.21 | $40,456 | $28,776 | 14.6 years |
| 20 kW | $3.14 | $43,974 | $32,950 | 14.3 years |
How to Save on Solar Panels
There are a large number of companies to choose from in West Memphis, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
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 West Memphis, AR Solar Cost FAQs
How much does it cost to install solar panels in West Memphis?
The average cost of solar panels in West Memphis is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in West Memphis?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 bang for your buck from going solar.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in West Memphis?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.