Solar Panels Cost 11k-21k in Magnolia, AR | October, 2024

Solar Panels Cost $11k-$21k in Magnolia, AR | October, 2024

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How much do solar panels cost in Magnolia, AR in 2024?

Having solar installed costs $3.37/W in Magnolia, AR in October, 2024.

It will cost $3,370, on average, per 1000 watts (1 kW) of capacity that your solar panels have. With a 30% federal tax credit, the typical price for a 5 kW solar installation in Magnolia is approximately $11,795. Depending on your energy usage habits, you may need a bigger system.

To the left, you can choose your county to see the typical roof size and average maximum capacity for residential solar on homes in your area. You can also see an overview of the costs, payback period and 20 year average savings for a 5 kW system in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Magnolia: $11,795US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Magnolia: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Magnolia: $17,204US Average: $15,784

Solar Potential in Magnolia

Estimated system size and solar electricity production per median viable roof in
Magnolia.

Roof size 912sq. ft.
Capacity 12.75kW DC
Electricity 15.8kkWh AC per yr.

Electricity Costs in Magnolia, AR & What that Means for Your Solar Panel Pricing

On average, Magnolia residents use 1,079 kWh each month, and the electric bill is $141.89. Keep in mind that apartments and smaller dwellings, which generally have reduced energy requirements, are included in this statistic.

The electricity rate per kWh in Magnolia, AR for October 2024 is on average 13.15¢.

In Magnolia, a typical electricity user's needs will usually be entirely accounted for by a solar panel system of 9 kW or more. Upfront, a 9 kW setup will cost you $30,330, but after the 30% federal tax credit, the total cost is $21,231.

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Average solar panel costs by system size in Magnolia

To the left, you will find a breakdown of prices for different solar panel system sizes installed in Magnolia. With more extensive solar systems, the price rises, but so do the electricity savings and the income tax credits you can receive.

Look at the solar panel cost calculator below and to the right to see the cost and benefit details calculated from an average $141.89 electric bill in Magnolia. Adjust the $141.89 to your typical electricity bill payment for results that are tailored to you.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $978 a year
Est. Price
$11,795
Savings from a 5kWthis system
  • Est. yearly production 7,519 kWh
  • Est. monthly savings $81
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 4.22 tons a year
  • Equivalent to planting 194 trees a year
  • Equivalent to driving 10,446 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,173 a year
Est. Price
$14,154
Savings from a 6kWthis system
  • Est. yearly production 9,023 kWh
  • Est. monthly savings $98
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 5.06 tons a year
  • Equivalent to planting 233 trees a year
  • Equivalent to driving 12,535 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,369 a year
Est. Price
$16,513
Savings from a 7kWthis system
  • Est. yearly production 10,527 kWh
  • Est. monthly savings $114
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 5.91 tons a year
  • Equivalent to planting 271 trees a year
  • Equivalent to driving 14,624 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,564 a year
Est. Price
$18,872
Savings from a 8kWthis system
  • Est. yearly production 12,031 kWh
  • Est. monthly savings $130
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 6.75 tons a year
  • Equivalent to planting 310 trees a year
  • Equivalent to driving 16,714 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,760 a year
Est. Price
$21,231
Savings from a 9kWthis system
  • Est. yearly production 13,535 kWh
  • Est. monthly savings $142
  • Full payback in 12 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

Magnolia Solar Panel Installation Incentives & Rebates | 2024

Rural small business and farm owners might benefit from the REAP Grant, which could cover 80% to 100% of their solar energy or wind energy installation expenses. Curious if you fall into this category? Confirm your eligibility with our REAP Grant eligibility tool.

With the availability of a 30% federal income tax credit, solar energy becomes a feasible solution for most homeowners, particularly in numerous parts of the country. A number of state and local programs are set up to increase the adoption of solar energy.

In Arkansas, 4 solar rebates and incentives are currently available from different utilities and government agencies.

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 your goal is to own your home well past the payback period of your solar system, solar panels are an clear choice in Magnolia. A 5 kW solar system in Magnolia, AR could potentially save you $22,258.6 over the course of 20 years, with the break even point averaging at 7 years.

The cost of not having solar panels in Magnolia, AR

Opting not to have solar panels or a separate backup energy solution results in you missing out on the savings noted earlier and leaves you fully reliant on your electric utility for electricity. As shown by recent news stories, total reliance on your utility company is not always ideal.

Annually, customers in Magnolia face approximately 1.94 outages each year. Outages typically last for an average of 346.11 minutes. Major occurrences like planned maintenance, overloaded power grids or high winds can lead to a significant rise in these time frames.

Regardless of whether a backup battery is present, a solar panel system could reduce the impact of future power outages you might face.

Power Outages

Currently, 0 customers are being tracked in Columbia County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Magnolia, AR?

Your Energy Needs - With larger solar panel systems, the cost per watt decreases, despite the greater upfront expense. Many consumers realize it's a great idea to install a solar system that can make enough power to replace their electric bill, because it helps them reduce costs.

Make & Model - Just like other products, solar panels come in a variety of makes and models. The brand preferences of your chosen installer can make it crucial to select a highly rated company. The utilization of high-quality models is expected to provide a more satisfactory long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have become the industry standard, and for valid reasons. Despite the higher price tag, these panels provide greater energy output. The majority of installation experts use panels constructed from this material.

Your Property - Things like rough terrain, trees, or other challenges may cause the installation to be more difficult. With the use of satellite images, the majority of solar installers nowadays can assess your home and incorporate these considerations into the initial cost estimate.

Labor Rates - The wages that companies offer their employees are different, and these expenses are inevitably reflected in consumer prices. Companies paying higher wages usually garner better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees change by area and will affect your final install price. That said, reputable local installers will be able to build these numbers into your first quotes so there are no surprises.

See what solar panels cost in other AR cities

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Who are the best solar installers in Magnolia?

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.

Magnolia, AR Solar Panel Cost FAQs

  • As of October, 2024, the average per-watt cost for solar panels in Magnolia, AR is $3.37/W. The installation of a 5 kW solar panel system in Magnolia, AR will cost about $11,795 after federal tax credits.

  • If you live in Arkansas, you can find 4 rebates and incentives through different utilities and government agencies. In addition, the 30% federal income tax credit is available to almost everyone.

  • Even though cash payments offer the greatest savings, several financing options for solar panels today are also cost-effective. Many installers collaborate with financing partners and will provide this information in your initial quotes.

  • Yes, the typical duration for 5 kW solar panel systems to pay back their cost in Magnolia, AR is 7 years, with electricity savings estimated at $22,258.6 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01