Solar Panel Cost Guide in Walnut Ridge, AR (2024 Update)
- Walnut Ridge Solar Installation Cost: $20,798
- 25-Year Savings: $23,701
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Walnut Ridge
Find out what the average cost of solar panel installation is in Walnut Ridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Walnut Ridge, the average cost of a solar system is 3 per watt.Since a 8.5-kW system is needed to cover the energy usage of a typical home in Walnut Ridge, the average price of going solar will be about $20,798 after claiming the federal solar tax credit of 0.
How much you pay can go higher or lower than the average in Walnut Ridge based on a few factors, such as the model of solar panels you choose and the solar contractor you hire.Even with the large initial cost, the average Walnut Ridge homeowner can save around $17,000 on their energy bills over 20 years, which is one of the perks of solar.
To get a free quote from a vetted solar installation company in Walnut Ridge, you can click the button below.
Solar savings over time in Walnut Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-19,342 |
| 3 years | $-16,430 |
| 5 years | $-13,518 |
| 7 years | $-10,606 |
| 9 years | $-7,693 |
| 11 years | $-4,781 |
| 13 years | $-1,869 |
| 15 years | $1,043 |
| 17 years | $3,955 |
| 19 years | $6,867 |
| 21 years | $9,779 |
| 23 years | $12,691 |
| 25 years | $15,604 |
Top Solar Installers in Walnut Ridge
Trying to install solar panels by yourself can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for your family.
If you’d like to switch to solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions for providers in Walnut Ridge:
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 Walnut Ridge
Factors that Affect Solar Panel Costs in Walnut Ridge
For many Walnut Ridge homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Walnut Ridge, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $3,490 per kilowatt in Walnut Ridge.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Walnut Ridge, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Walnut Ridge homeowners choose to finance their solar panel systems to make going solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence your pricing. Walnut Ridge’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Walnut Ridge have more knowledge about local solar incentives and can help you take advantage 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 help you save 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 | $12,127 | 13.9 years |
| 8 kW | $3.56 | $19,935 | $16,561 | 13.7 years |
| 10 kW | $3.49 | $24,430 | $21,190 | 13.4 years |
| 12 kW | $3.42 | $28,730 | $26,014 | 13.1 years |
| 14 kW | $3.35 | $32,834 | $31,033 | 12.9 years |
| 16 kW | $3.28 | $36,743 | $36,249 | 12.6 years |
| 18 kW | $3.21 | $40,456 | $41,659 | 12.3 years |
| 20 kW | $3.14 | $43,974 | $47,265 | 12.0 years |
How to Save on Solar Panels
There are a lot of companies available in Walnut Ridge, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When making the switch to solar energy, it’s important to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
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 Walnut Ridge, AR Solar Cost FAQs
What is the average cost of installing solar panels in Walnut Ridge?
This is a tough question to answer precisely, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Walnut Ridge?
You can’t get solar panels for free in Walnut Ridge. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Walnut Ridge have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How often do you have to replace solar panels?
On average, solar panels can last 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 larger 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.