Solar Panel Cost Guide in Texarkana, AR (2024 Update)
- Texarkana Solar Installation Cost: $20,083
- 25-Year Savings: $21,668
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Texarkana
Find out how much it might cost to switch to solar power in Texarkana.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Texarkana, the average cost of solar panels is 3 per watt.The average solar panel system size in Texarkana is around 8.2 kilowatts, meaning a cost of about $20,083 for a solar installation, or $28,719 before the 0 federal solar 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 true cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the high upfront cost, the average Texarkana homeowner can save about $17,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a reputable solar installer in Texarkana for a personalized quote.
Solar savings over time in Texarkana
| Year | Return on Investment |
|---|---|
| 1 years | $-18,627 |
| 3 years | $-15,715 |
| 5 years | $-12,803 |
| 7 years | $-9,891 |
| 9 years | $-6,979 |
| 11 years | $-4,067 |
| 13 years | $-1,155 |
| 15 years | $1,758 |
| 17 years | $4,670 |
| 19 years | $7,582 |
| 21 years | $10,494 |
| 23 years | $13,406 |
| 25 years | $16,318 |
Top Solar Installers in Texarkana
Many homeowners opt for a solar installer since installing solar panels yourself can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our recommendations for providers nearby:
See all of the solar companies in Texarkana
Factors that Affect Solar Panel Costs in Texarkana
The cost of installing a solar system in Texarkana can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels 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 higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,490.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Texarkana, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Texarkana, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of 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 principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Texarkana, and each can charge varying amounts for labor and equipment.Additionally, some companies in Texarkana know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $11,238 | 14.4 years |
| 8 kW | $3.56 | $19,935 | $15,375 | 14.1 years |
| 10 kW | $3.49 | $24,430 | $19,707 | 13.8 years |
| 12 kW | $3.42 | $28,730 | $24,235 | 13.6 years |
| 14 kW | $3.35 | $32,834 | $28,958 | 13.3 years |
| 16 kW | $3.28 | $36,743 | $33,877 | 13.0 years |
| 18 kW | $3.21 | $40,456 | $38,991 | 12.7 years |
| 20 kW | $3.14 | $43,974 | $44,301 | 12.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The kind of solar panel you want to get plays a role in which installer you should go with, since different companies offer different panels.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
EcoWatch's Texarkana, AR Solar Cost FAQs
How much does it cost to install solar panels in Texarkana?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra 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 want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Texarkana?
A solar panel system isn’t free in Texarkana, 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 help lower the cost.
Does Texarkana have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Texarkana?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.