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

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

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

Having solar panels in the month of October, 2024 in Malvern, AR costs $3.35/W.

For every 1000 watts (1 kW) your solar system can produce, you will have to invest, on average, $3,350 for installation. We can come to this conclusion as a result of the rate price cost per watt. On average, the expense for a 5 kW system in Malvern, after a 30% federal tax credit, is about $11,725. Keep in mind that a higher capacity system might be necessary to fully meet your energy requirements.

By selecting your county on the left, you can see the typical roof size and the average maximum capacity for residential solar panel systems in your area. Shown below is an overview of the 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.
Malvern: $11,725US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Malvern: 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.
Malvern: $17,304US Average: $15,784

Solar Potential in Malvern

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

Roof size 572sq. ft.
Capacity 8kW DC
Electricity 9kkWh AC per yr.

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

Energy consumers in Malvern usually use 1,079 kWh per month, with an average monthly bill of $141.89. These numbers also encompass apartments and smaller dwellings with reduced energy demand.

Malvern, AR's electricity rate is on average 13.15¢ per kWh in October 2024.

In Malvern, the average electricity consumer has to have a solar power setup of 9 kW or larger to meet their entire electricity requirements. Before incentives, a 9 kW solar installation is around $30,150, with the federal income tax credit giving you 30% back, which cuts down the total to $21,105.

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Average solar panel costs by system size in Malvern

Below on the left side, you'll find the pricing details for multiple sizes of the solar panel systems installed in Malvern. Even though a more extensive solar installation comes with a greater cost, it also yields greater electricity savings and higher income tax credits.

Refer to the solar panel cost calculator down and to the right to see the cost and benefit details calculated from an average $141.89 electric bill in Malvern. To get personalized results, adjust the $141.89 to reflect your usual electricity payment.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $978 a year
Est. Price
$11,725
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
$14,070
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
$16,415
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
$18,760
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
$21,105
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

Malvern Solar Panel Installation Incentives & Rebates | 2024

For rural small businesses and agricultural properties, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. If you consider yourself eligible, we recommend using our REAP Grant eligibility tool to confirm your qualification.

Homeowners can benefit from a 30% federal income tax credit for setting up residential solar panels, making solar power a sensible option across much of the country. Additionally, a variety of state and local programs are available to incentivize solar adoption.

Arkansas provides 4 solar rebates and incentives from different utility companies and government 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?

For homeowners in Malvern planning to stay beyond the payback period of their solar system, solar panels are the obvious choice. Having a 5 kW solar system in Malvern, AR can potentially save you around $22,328.6 over a span of 20 years, with an average break even point of 7 years.

The cost of not having solar panels in Malvern, AR

In addition to missing out on the savings mentioned above, not installing solar panels or an alternative backup energy source means total reliance on your electric utility for electricity. The news has provided several examples highlighting that relying entirely on your utility isn't always ideal.

In Malvern, there are about 1.94 outages per customer annually. Outages typically last for an average of 346.11 minutes. Major occurrences like wildlife damage, aging infrastructure or lightning strikes can lead to a significant rise in these time frames.

With or without a backup battery, a solar panel system could relieve the stress of future power disruptions you might face.

Power Outages

Currently, 0 customers are being tracked in Hot Spring County.

Learn more

Customers Out:

0

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

Your Energy Needs - The cost per watt drops with larger solar panel systems, even if the upfront cost is larger. Consumers often discover that setting up a solar system to replace their electric bill is a smart choice, resulting in the most savings.

Make & Model - Like many products, solar panels and mounting equipment are offered in a variety of makes and models. Because the installer you choose might have specific brand preferences, selecting a reputable installer is even more important. Higher quality makes and models generally result in a more satisfactory long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have established themselves as the industry standard, and for valid reasons. Even with a higher cost, this technology generate more energy. Most installers opt for panels crafted using this material.

Your Property - No two homes or properties are the same. Elements such as sloped land, trees, or other obstacles might complicate the installation process. These days, many solar installers can leverage satellite imagery to evaluate your home and incorporate these aspects into the preliminary cost estimate.

Labor Rates - Companies pay their employees in varying amounts, and these costs are borne by consumers. Businesses that pay higher wages frequently receive higher reviews for their work and customer service.

Permitting & Interconnection - Depending on the area, local permitting and utility interconnection fees will influence the cost of your installation. Reputable local installers will include these numbers into your initial quotes to prevent any surprises.

See what solar panels cost in other AR cities

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Who are the best solar installers in Malvern?

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.

Malvern, AR Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Malvern, AR is $3.35/W. For a 5 kW solar panel system, the total cost in Malvern, AR after federal tax credits is around $11,725.

  • There are 4 rebates and incentives available in Arkansas from a range of utility providers and government organizations. Furthermore, the majority of people qualify for the 30% federal tax credit.

  • Although cash payments offer the greatest savings, many financing options for solar panels now exist that are also beneficial. Many installers will provide information about their financing partners in the initial quotes they provide.

  • Yes, homeowners in Malvern, AR generally see a payback time of 7 years for 5 kW solar panel systems, with electricity savings averaging $22,328.6 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01