Solar Panel Cost Guide in Farmington, AR (2024 Update)
- Farmington Solar Installation Cost: $20,977
- 25-Year Savings: $20,236
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Farmington
Find out what the average cost of solar panels are in Farmington.
In Farmington, solar panels cost about 3 per watt on average.The average Farmington homeowner needs a 8.6-kilowatt system, which would cost about $20,977 with the federal tax credit, or $29,997 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact 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 installation company you go with.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-19,629 |
| 3 years | $-16,932 |
| 5 years | $-14,235 |
| 7 years | $-11,537 |
| 9 years | $-8,840 |
| 11 years | $-6,143 |
| 13 years | $-3,446 |
| 15 years | $-749 |
| 17 years | $1,948 |
| 19 years | $4,645 |
| 21 years | $7,342 |
| 23 years | $10,039 |
| 25 years | $12,736 |
Top Solar Installers in Farmington
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar company can make swapping over to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
If you’d like to start using solar energy but still aren’t sure which solar system installer 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 Farmington
Factors that Affect Solar Panel Costs in Farmington
The cost of installing a solar system in Farmington 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 your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Farmington homeowners decide to finance their solar panel systems to make going solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.63 | $15,244 | $9,564 | 15.4 years |
| 8 kW | $3.56 | $19,935 | $13,143 | 15.1 years |
| 10 kW | $3.49 | $24,430 | $16,917 | 14.8 years |
| 12 kW | $3.42 | $28,730 | $20,886 | 14.5 years |
| 14 kW | $3.35 | $32,834 | $25,052 | 14.2 years |
| 16 kW | $3.28 | $36,743 | $29,412 | 13.9 years |
| 18 kW | $3.21 | $40,456 | $33,968 | 13.6 years |
| 20 kW | $3.14 | $43,974 | $38,720 | 13.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Farmington, AR Solar Cost FAQs
How much does it cost to install solar panels in Farmington?
This is a difficult question to answer exactly, 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. You can expect to pay more if you want other solar equipment or higher quality 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 cheaper solar panels.
Should I lease or buy solar panels in Farmington?
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 can’t take advantage of 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 much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $826.94 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.