Solar Panel Cost Guide in Cave Springs, AR (2024 Update)
- Cave Springs Solar Installation Cost: $20,937
- 25-Year Savings: $21,209
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Cave Springs
Let’s have a look at the average cost of solar panels in Cave Springs.
The national average cost of solar panels is $2.66 per watt, but in Cave Springs it’s 3 per watt.The average solar panel system size in Cave Springs is around 8.6 kilowatts, meaning a cost of about $20,937 for a solar installation, or $29,940 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of equipment you want to get, your solar contractor and more.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Cave Springs can save about $16,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cave Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-19,489 |
| 3 years | $-16,592 |
| 5 years | $-13,695 |
| 7 years | $-10,798 |
| 9 years | $-7,901 |
| 11 years | $-5,004 |
| 13 years | $-2,107 |
| 15 years | $790 |
| 17 years | $3,688 |
| 19 years | $6,585 |
| 21 years | $9,482 |
| 23 years | $12,379 |
| 25 years | $15,276 |
Top Solar Installers in Cave Springs
Although it's possible to install solar panels yourself, it requires extra effort and handiness. Because of that, the majority of homeowners choose to hire a solar panel installer. Another great thing about going with a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our suggestions 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 Cave Springs
Factors that Affect Solar Panel Costs in Cave Springs
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Cave Springs: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,490.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Cave Springs provide solar loans, which reduce your upfront costs of installing solar panels.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 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 significantly.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can influence how much you pay. Cave Springs’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fits within your budget.
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 | $10,271 | 14.9 years |
| 8 kW | $3.56 | $19,935 | $14,086 | 14.6 years |
| 10 kW | $3.49 | $24,430 | $18,096 | 14.4 years |
| 12 kW | $3.42 | $28,730 | $22,302 | 14.1 years |
| 14 kW | $3.35 | $32,834 | $26,703 | 13.8 years |
| 16 kW | $3.28 | $36,743 | $31,299 | 13.5 years |
| 18 kW | $3.21 | $40,456 | $36,091 | 13.2 years |
| 20 kW | $3.14 | $43,974 | $41,078 | 12.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Companies that have been in business for many years 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 adequate aftercare and customer service, such as part repairs and replacements.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: When making the switch to solar power, it’s necessary to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
- 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 large role in the company you go with.
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 Cave Springs, AR Solar Cost FAQs
How much does it cost to install solar panels in Cave Springs?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Cave Springs have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 buy between 20 and 35 panels to cover 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.