Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems operate through power outages and emergencies, and you won't have to depend on the power grid for your safety and well-being.
- Smaller power bills: Sourcing some or all of your own power will save you money on your electric bills long-term. Plus, some states provide net metering programs that enable you to sell your extra energy back to the grid, generating extra credits toward your energy bill.
- Reduced carbon footprint: Embracing solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Little Rock Homeowners?
The state of Arkansas offers numerous solar incentives to help cut your solar system costs. Below is a breakdown of relevant solar programs where you live.
Incentive Type: Loan Program
Website: firstelectric.coopIncentive Amount:
$500- $15,000
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 Little Rock
Choosing a company is the first step toward an effective and cost-efficient solar system. Consider each of these factors in your company 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. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Little Rock
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 increase your solar system's efficiency. Not every solar company includes these extras, so look for a company that sells them if it's crucial for you.
Generally speaking, it costs about $17,450 for a five-kilowatt solar array in Little Rock. This table shows more specific prices for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,077 |
| Solar Polycrystalline | $840 |
| Thin-Film | $491 |
| Solar Battery | $689 |
| Solar Home EV Charger | $2,584 |
Financing Solar Energy in Little Rock
Choosing the right financing plan will impact your overall solar system cost and possible savings. Common payment options include leases, cash payments, loans, and power purchase agreements. Though it involves a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a car or home loan, 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 let you rent your panels for a set monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each installer you're vetting about the financing options it offers. A consultant can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Little Rock.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and unique financing solutions that could save you more.
| 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 Little Rock
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Little Rock?
Should I anticipate a boost in my property value after switching to solar energy?
Could I still use solar power if I live in a rainy, dark, or wooded area?
How long will an average solar system last?
What maintenance do my solar panels need, and how frequently do they need it?
How does "net metering" work, and do I need to participate?
What are the signs I shouldn't use a particular solar company for my job?
- Pressuring you into signing a contract
- Not being straightforward about references, credentials and training, cost and warranties
- "One-size-fits-all" approach
- Rushing through the site assessment
- No business filing with your local secretary of state
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