Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery storage system lets you have reliable energy during storms and grid outages.
- Lowered energy bills: You can dodge the added cost of grid-tied power by producing some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to help pay for your energy bill.
What Solar Incentives Are Available to Pine Bluff Homeowners?
Arkansas homeowners who choose solar could qualify for rebates, tax credits, special financing and reimbursements. Here are just a few of the local incentive programs.
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 Pine Bluff
Choosing a company is the first step toward an effective and valuable solar system. Make your choice based on the following important considerations.
Licensing and Training
Solar contractors 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 a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Pine Bluff
The type of solar panels you purchase decides how much energy you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
If you need to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for add-ons. By selecting the right components, you can make your system more effective and user-friendly. Not all solar contractors provide these add-ons, so look for a contractor that sells them if it's a priority for you.
If you're a resident of Pine Bluff and are looking into a five-kilowatt solar energy system, you could plan to spend about $17,450 for materials and labor. Find more information on specific component and solar panel costs in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $898 |
| Solar Polycrystalline | $700 |
| Thin-Film | $409 |
| Solar Battery | $574 |
| Solar Home EV Charger | $2,154 |
Financing Solar Energy in Pine Bluff
Solar installers use multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar loans, cash payments, power purchase agreements (PPAs) and solar leases. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate based only on the energy you use, akin to an electric bill. We typically don’t recommend these two choices because you won't own the panels and are disqualified from using solar incentives. Ask each provider you're evaluating about the payment plans it offers. A consultant can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Pine Bluff.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Further incentives may be available through local 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 Pine Bluff
How much energy and money could I save per year by switching to solar?
Is solar energy easily accessible in Pine Bluff?
Will a solar PV system raise my Pine Bluff home value?
Could I still use solar power if I live in a rainy, wooded, or dark area?
What can I do to assess my home's solar potential?
How do I care for my new solar system?
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you don't own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
What's the difference between a PPA and traditional financing?
You might think about a PPA if you don’t want to be responsible for maintenance 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 cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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