Benefits of Solar Energy
Solar energy offers several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Adding a solar battery storage system lets you have trustworthy energy during grid outages and storms.
- Lowered energy bills: With solar panels, you produce power without paying the tacked-on costs of grid-connected power. Going off-grid can eliminate your bills completely. Plus, a significant amount of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Bentonville Homeowners?
Arkansas homeowners who upgrade to solar could qualify for special financing, rebates, tax credits and reimbursements. Here are just a few of the region's incentive programs.
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Bentonville
The more comprehensive your provider search is, the better your solar system will ultimately work. Consider all of these elements in your contractor search.
Licensing and Training
Solar installers in Arkansas must be licensed electricians to install PV systems or licensed plumbers to install water heating systems. Depending on their specific licensure, your contractor will have at least 4-5 years of experience and verify their educational credentials with the state Contractors Licensing Board. You should also visit a company's website to learn about its private credentials. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Bentonville
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can boost your solar system's efficiency. Not every solar provider provides these additional features, so look for a company that installs them if it's crucial for you.
If you're a resident of Bentonville and are considering getting a five-kilowatt solar energy system, you could expect to pay about $17,450 for materials and labor. See more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,138 |
Solar Polycrystalline | $888 |
Thin-Film | $519 |
Solar Battery | $728 |
Solar Home EV Charger | $2,732 |
Financing Solar Energy in Bentonville
There are many ways to pay for a new solar system, and the right one will help you decrease overhead. A few of the most common options include loans, power purchase agreements (PPAs), cash payments, and leases. Though it involves a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. We suggest working with a provider that offers multiple financing options. Talk to each representative about what's available, and secure more than one estimate for the best odds of keeping within your budget.
The table below lists the average payback periods for different capacities of solar systems in Bentonville.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Additional incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.4 years |
2 kW | 4.8 years |
5 kW | 12.0 years |
10 kW | 24.0 years |
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Frequently Asked Questions About Solar in Bentonville
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Bentonville?
Will solar energy systems improve my Bentonville home price?
What can I do to calculate my home's solar viability?
How long is a Bentonville solar panel's average lifespan?
How do I care for my new solar system?
How can I maximize my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
What's the difference between a PPA and traditional financing?
You might consider a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any solar financial incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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