Solar Panel Cost Guide in Paragould, AR (2024 Update)
- Paragould Solar Installation Cost: $20,872
- 25-Year Savings: $22,036
- Payback Period: 14.0 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Paragould
Let’s take a look at the average cost of solar panels in Paragould.
While the national average of solar panels is $2.66 per watt, solar panels in Paragould typically cost about 3.Because a 8.5-kW system is needed to cover the energy consumption of a typical home in Paragould, the average price of going solar will be about $20,872 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want, your solar contractor and more.With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Paragould find investing in solar can pay off big.
You can click the button below to get connected with a vetted solar installer in Paragould that can help you get a more accurate cost estimate for your home.
Solar savings over time in Paragould
Year | Return on Investment |
---|---|
1 years | $-19,416 |
3 years | $-16,504 |
5 years | $-13,592 |
7 years | $-10,680 |
9 years | $-7,768 |
11 years | $-4,856 |
13 years | $-1,944 |
15 years | $968 |
17 years | $3,881 |
19 years | $6,793 |
21 years | $9,705 |
23 years | $12,617 |
25 years | $15,529 |
Top Solar Installers in Paragould
Although you can install solar panels on your own, it requires extra energy and expertise. For that reason, most people choose to go with a solar panel installer. The expertise that solar installers offer can be helpful as well, particularly if you aren’t sure what kind of solar equipment you need.
If you're looking for a solar installer in Paragould, the EcoWatch team has compiled a list of our top suggestions here:
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 Paragould
Factors that Affect Solar Panel Costs in Paragould
While the average cost of a solar system in Paragould is $20,872, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Paragould homeowners opt to finance their solar panel systems to offset upfront costs.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 more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Paragould, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $10,899 | 14.6 years |
8 kW | $3.56 | $19,935 | $14,923 | 14.3 years |
10 kW | $3.49 | $24,430 | $19,142 | 14.0 years |
12 kW | $3.42 | $28,730 | $23,557 | 13.7 years |
14 kW | $3.35 | $32,834 | $28,167 | 13.5 years |
16 kW | $3.28 | $36,743 | $32,972 | 13.2 years |
18 kW | $3.21 | $40,456 | $37,973 | 12.9 years |
20 kW | $3.14 | $43,974 | $43,170 | 12.6 years |
How to Save on Solar Panels
The solar company you go with will impact 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 consider, including:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you want to get plays a role in which company you should go with, since different companies have different panels.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
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 Paragould, AR Solar Cost FAQs
What is the average cost of installing solar panels in Paragould?
This is a hard 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. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact how much my home is worth?
Solar panels can increase your home value significantly 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% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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.