Solar Panels Cost 12k-23k in Hot Springs Village CDP, AR | October, 2024

Solar Panels Cost $12k-$23k in Hot Springs Village CDP, AR | October, 2024

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How much do solar panels cost in Hot Springs Village CDP, AR in 2024?

For solar systems in Hot Springs Village CDP, AR, the price per watt in October, 2024 is around $3.67/W.

Put another way, for every 1000 watts (or 1 Kw) your system can generate you will spend $3,670 to get your system installed in . Subtracting the 30% federal tax credit, a 5 kW solar installation in Hot Springs Village CDP typically costs $12,845. It's worth noting that a larger system may be necessary to fully meet your energy requirements.

To the left, you can choose your county to view the average roof size and the maximum capacity of solar panel systems for houses in your area. Find below a detailed overview of the {price|costs, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Hot Springs Village CDP: $12,845US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Hot Springs Village CDP: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Hot Springs Village CDP: $15,598US Average: $15,784

Solar Potential in Hot Springs Village CDP

Estimated system size and solar electricity production per median viable roof in
Hot Springs Village CDP.

Roof size 1,001sq. ft.
Capacity 14kW DC
Electricity 17.5kkWh AC per yr.

Electricity Costs in Hot Springs Village CDP, AR & What that Means for Your Solar Panel Pricing

The average electricity bill in Hot Springs Village CDP, for a usage of 1,122 kWh per month, is $141.45. Smaller homes, such as micro-apartments, are also included in the data mentioned in the previous sentence.

As of October 2024, the mean rate for electricity per kWh in Hot Springs Village CDP, AR amounts to 12.6¢.

The average electricity user in Hot Springs Village CDP will require a 9 kW or more solar setup to account for their full electricity requirements. Upfront, a 9 kW solar panel installation is priced at around $33,030, with a 30% tax credit, the total comes down to $23,121.

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Average solar panel costs by system size in Hot Springs Village CDP

Shown below and to the left, you can find a detailed pricing structure for multiple solar panel system sizes installed in Hot Springs Village CDP. With larger solar systems, the price increases, but so do the electricity savings and the income tax credits you can gain.

The solar panel calculator, positioned to the right and below, provides a detailed cost and benefit analysis based on a typical $141.45 electric bill for Hot Springs Village CDP. For personalized results, adjust the $141.45 to what your average electricity bill is.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $978 a year
Est. Price
$12,845
Savings from a 5kWthis system
  • Est. yearly production 7,519 kWh
  • Est. monthly savings $81
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 4.25 tons a year
  • Equivalent to planting 195 trees a year
  • Equivalent to driving 10,520 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,173 a year
Est. Price
$15,414
Savings from a 6kWthis system
  • Est. yearly production 9,023 kWh
  • Est. monthly savings $98
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 5.1 tons a year
  • Equivalent to planting 234 trees a year
  • Equivalent to driving 12,624 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,369 a year
Est. Price
$17,983
Savings from a 7kWthis system
  • Est. yearly production 10,527 kWh
  • Est. monthly savings $114
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 5.95 tons a year
  • Equivalent to planting 273 trees a year
  • Equivalent to driving 14,728 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,564 a year
Est. Price
$20,552
Savings from a 8kWthis system
  • Est. yearly production 12,031 kWh
  • Est. monthly savings $130
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 6.8 tons a year
  • Equivalent to planting 312 trees a year
  • Equivalent to driving 16,832 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,760 a year
Est. Price
$23,121
Savings from a 9kWthis system
  • Est. yearly production 13,535 kWh
  • Est. monthly savings $141
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 7.36 tons a year
  • Equivalent to planting 338 trees a year
  • Equivalent to driving 18,209 mi less a year

Hot Springs Village CDP Solar Panel Installation Incentives & Rebates | 2024

Rural entrepreneurs and farmers might find that the REAP Grant pays for 80% to 100% of their costs when installing solar energy or wind energy systems. Think you fit the criteria? Confirm your eligibility with our REAP Grant eligibility tool.

For those looking into residential solar, the 30% federal income tax credit is available to most people, making solar a practical option in various states. A multitude of state and local programs are in place to encourage the use of solar energy.

Arkansas residents have access to 4 solar rebate and incentive initiatives from multiple utilities and governmental organizations.

Sustainable Building Design Revolving Loan Fund

Value:Varies

The ABA Revolving Loan Fund is an interest-free loan program adopted by Arkansas in 2009 (as loan payments go to the fund, the fund may continue indefinitely). It provides a way for state agencies, boards, and commissions (including those attached to institutions of higher learning) who own their own facilities to make renovations up to $25,000. It is funded by a grant from the American Recovery and Reinvestment Act of 2009 with contributions from the state general improvement funds. The loan encourages debtors to use the funds for ways to save and create energy for their buildings. For further information, check out the Arkansas Building Authority site.

Green Building Standards for State Facilities

Value:Varies

As of July 1, 2005, all state agencies are encouraged to use the Leadership in Energy and Environmental Design and Green Globes rating system as much as possible. They receive additional credit for use of agri-fiber and composite wood products, post-consumer recycled content, and other environment-friendly products. The Sustainable Energy-Efficient Building Program directed the Arkansas Energy Office to reduce energy use in all state-owned major facilities by 30% by 2017 and conserve all utilities to reduce total energy consumption as justified by a life cycle cost analysis. Other state agencies have been encouraged to develop their own strategic energy plans.

Net Metering

Value:Varies

In April 2001, the Arkansas Public Service Commission was directed to establish rules for net metering of some renewable energy systems. By 2012 they amended those rules to exempt government entities and agencies from indemnity agreements. In 2013 it would add new net-metering tariffs for all utilities under its jurisdiction and in 2014 it would modify provisions for excess generation, including increasing the cap for non-residential customers and opening the docket for appropriate fees and terms. Of special note is that customers with multiple meters who generate excess electricity may, with 30 days' notice, use the funds generated for any meter within the same utility.

Solar Hot Water Contractor Licensing

Value:Varies

Arkansas offers limited specialty solar thermal installer licenses with assistance from the Arkansas Department of Health. These licenses are the Restricted Solar Mechanic, Supervising Solar Mechanic, and Solar Mechanic Trainee. The Restricted Solar Mechanic license only allows a mechanic to install systems used to heat domestic hot water; the person must show evidence of relevant training and experience, including four years with a Restricted Solar Mechanic Trainee license. The Supervising Solar Mechanic is allowed to supervise, install, and maintain solar and hydronic domestic hot water systems; applicants must have at least one year with a Restricted Solar Mechanic and five years of solar mechanic experience.

Are solar panels worth it in Arkansas?

If you expect to own your residence longer than the solar system's payback period, solar panels are a good investment in Hot Springs Village CDP. If you install a 5 kW solar system in Hot Springs Village CDP, AR, you might save $21,103 over 20 years on average, with a break even point at roughly 8 years.

The cost of not having solar panels in Hot Springs Village CDP, AR

Opting not to install solar panels or a separate backup energy solution results in you missing out on the savings noted earlier and makes you fully reliant on your electric utility for electricity. As we've seen in numerous recent news reports, complete reliance on your utility is not always ideal.

Recently, utilities in Hot Springs Village CDP have averaged an average of 2 outages per customer annually. On average, an outage lasts 290.12 minutes. When major events such as aging infrastructure, tornadoes or construction accidents occur, these durations can increase significantly

Whether featuring a backup battery or not, a solar panel system can help alleviate the stress of possible future outages.

Power Outages

Currently, 0 customers are being tracked in Saline County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Hot Springs Village CDP, AR?

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is reduced as the system size grows. Many consumers realize it's a good idea to set up a solar system that can produce enough power to fully cover their electric bill, because it helps them reduce costs.

Make & Model - Solar panels and mounting equipment are available in a range of makes and models. It's important to choose a highly rated contractor, considering the brand preferences that contractors may have. Buyers often find that using better quality equipment leads to a more satisfactory long-term experience.

Solar Panel Type - The industry standard is now monocrystalline panels, and for good reason. Although they are pricier, they provide increased energy. The majority of installers utilize panels made from this material.

Your Property - Each property and home presents unique challenges. Irregular terrain, trees, or other obstructions may complicate the installation process. These days, the majority of solar installers can assess your home with satellite images and incorporate these considerations in the first cost estimate.

Labor Rates - Different companies have varying pay scales for their employees, and these costs are ultimately borne by consumers. It is often observed that businesses with higher wages garner superior reviews for their work and customer service.

Permitting & Interconnection - Your final installation price will be impacted by the permitting and utility interconnection fees, which differ by area. Quality local installers will incorporate these figures into your preliminary estimates to avoid any surprises.

See what solar panels cost in other AR cities

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Who are the best solar installers in Hot Springs Village CDP?

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Reparation of solar arrays.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Reparation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.

Fluent Solar

Lindon, UT(866) 736-1253

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

LightEdison

Denver, CO(888) 966-6377

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Hot Springs Village CDP, AR Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Hot Springs Village CDP, AR is $3.67/W. With the federal tax credit, the cost of a 5 kW solar panel system in Hot Springs Village CDP, AR drops to roughly $12,845.

  • There are 4 rebates and incentives available in Arkansas from a range of utility providers and government organizations. Also, nearly everyone can take advantage of the 30% federal tax credit.

  • Paying cash offers the most savings, but there are now numerous financing options for solar panels that are also cost-effective. Information about financing options is typically detailed in initial quotes provided by installers.

  • Yes, in Hot Springs Village CDP, AR, 5 kW solar panel systems typically pay off in 8 years, and users save around $21,103 in electricity costs over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01