Benefits of Solar Energy
Solar energy comes with multiple advantages. Here are some highlights.
- Better energy independence: Solar panel systems can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with an optional battery backup system.
- Smaller power bills: Sourcing some or all of your own energy will spend less on electricity 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: Using clean solar power lowers your dependence on conventional, less environmentally-friendly sources.
What Solar Incentives Are Available to Springdale Homeowners?
Governments and power companies often incentivize homeowners for adopting solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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 Springdale
The cost and efficiency of solar panels often rely on the provider that installed them. Make your choice based on the following essential elements.
Licensing and Training
Solar contractors in Arkansas must be licensed plumbers to install water heating systems or licensed electricians to install PV 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. Solar companies can also obtain certifications from trade groups and standards organizations. The most prestigious ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Springdale
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. 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.
Additional components, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors provide these add-ons, so look for a company that sells them if it's a priority for you.
Most Springdale homeowners select solar systems designed for five kilowatts (kW) of electrical capacity. These systems run about $17,450 to install, considering both parts and installation. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,074 |
| Solar Polycrystalline | $837 |
| Thin-Film | $490 |
| Solar Battery | $687 |
| Solar Home EV Charger | $2,577 |
Financing Solar Energy in Springdale
Choosing the right financing option will influence your overall solar system cost and possible savings. Common payment options include loans, leases, cash payments, and power purchase agreements. We advise paying with cash or securing a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still enjoying energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases let you use 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 company 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 Springdale.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and dedicated financing plans 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 Springdale
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Springdale?
Should I anticipate a property value increase after installing solar panels?
What can I do to calculate my home's solar potential?
How long will a common solar system last?
What care do my solar panels need, and how frequently do they need it?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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