Solar Panel Cost Guide in Marion, AR (2024 Update)
- Marion Solar Installation Cost: $20,660
- 25-Year Savings: $17,810
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Marion
Find out what the average cost of a solar system is in Marion.
In Marion, solar panels cost about 3 per watt on average.Since a 8.5-kW system is needed to cover the energy costs of a typical home in Marion, the average price of going solar will be about $20,660 after claiming the federal solar tax credit of 0.
The actual price you pay can be above or below the average in Marion based on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Marion see about $15,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Marion
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 Marion
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar company can make your switch to solar power much easier. Some solar installers, especially local ones, can help you better understand incentives in Marion, optimizing your ROI.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Marion
Factors that Affect Solar Panel Costs in Marion
There are several criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar 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.The kind of 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. In addition, extra products, like solar batteries, can bump up your total well above the Marion average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Marion homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Marion, and each can charge different amounts for labor and equipment.Additionally, some companies in Marion have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $8,060 | 16.4 years |
8 kW | $3.56 | $19,935 | $11,137 | 16.0 years |
10 kW | $3.49 | $24,430 | $14,410 | 15.7 years |
12 kW | $3.42 | $28,730 | $17,878 | 15.4 years |
14 kW | $3.35 | $32,834 | $21,542 | 15.1 years |
16 kW | $3.28 | $36,743 | $25,401 | 14.8 years |
18 kW | $3.21 | $40,456 | $29,456 | 14.5 years |
20 kW | $3.14 | $43,974 | $33,706 | 14.2 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
EcoWatch's Marion, AR Solar Cost FAQs
How much does it cost to install solar panels in Marion?
This is a difficult 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Marion?
Solar panels aren’t free in Marion, 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.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $776.80 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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.