Your Ultimate Guide To Solar Panel Pricing And Incentives In Arkansas

Regardless of the state that you live in (for the most part, anyway), there are many advantages of using solar energy to power your home or part of your home. Below, we’ll outline a few of the main advantages of solar power.

1. You Can Lower Your Electricity Bill

Most homes in the U.S. draw on electricity to keep cool in the summer and warm in the winter. While gas or propane are viable alternatives, electricity is necessary for the majority of life functions these days. As a homeowner in Arkansas, you can use solar energy to offset the cost of the electricity that you consume. Even if you don’t generate enough energy to offset it completely, even a reduction in energy costs can be helpful.

2. You Can Avoid Increasing Electricity Costs

The cost of electricity has been moving in only one direction, and that’s up. Especially if you’re looking to the future or are living on a fixed income, you may not want to subject your household budget to rising energy costs. Going solar can help you keep your expenditures in check.

3. You Can Depend on Solar

When you install solar panels on your home, you can rest assured that the investment will last. Solar panels are sturdy, with the ability to stand up to all but the harshest weather conditions. They’re not easily broken and have no moving parts. Projected to last as long as 30 years, solar panels require very little maintenance.

So how does all this translate to solar panels in Arkansas? Is it a good idea to install a solar system if you live in Arkansas? What are the solar panel pricing and incentives in Arkansas? Here are the specific ins and outs of solar energy in Arkansas.

According to SunPower, the state of Arkansas has an ideal climate for solar power. “The state of Arkansas enjoys a warm subtropical climate and an average of 218 sunny days per year.” Additionally, according to Google’s Project Sunroof, 80% of buildings in the state are solar-viable, with 634 million square feet of roof space and 11.4 million MWh AC per year.

What about solar panel pricing and incentives in Arkansas? Currently, the average solar panel cost in Arkansas is $2.60/W, according to solar energy site EnergySage. That means if you have a 5kW solar system installed on your home or other structure, you can expect to pay between $11,050 to $14,950, with an average cost of solar in Arkansas of $13,000.

The federal government offers incentives to both corporate and residential solar power users. The current federal solar investment tax credit allows you to write off 26% of the cost of your solar system installation. There’s no cap on this credit, and it can be rolled over into another year if you don’t have enough tax liability in a given year.

However, it only applies to those who purchase and own their own solar system: you won’t be eligible for the credit if you rent or lease your system.

While Arkansas residents are eligible for the federal solar investment tax credit, there are no state-level tax incentives for installing a solar system. However, Arkansas does follow generous net metering rules, which is a huge benefit to solar owners. If you’re not familiar with net metering, it’s a system that allows you to offset your energy bills even further.

Net metering allows you to connect your solar panels to a public-utility power grid. Any excess energy that you produce can be used to offset the cost of the power that you draw from the utility. If your system produces more energy than you need, the excess power is sold back to the grid, which allows you to build up energy credits that can be used toward your future energy bills.

One thing to consider before you invest a lot of money in a solar system in Arkansas is that the cost of energy is already quite low in the state. In fact, according to Choose Energy, the state of Arkansas ranks 40th out of 50 states when it comes to the cost of energy. Since solar energy replaces conventional energy, and it’s an expensive investment, many residents of Arkansas may choose to simply use conventional energy.

However, you’ll still recognize the obvious environmental benefits and be able to take advantage of the state’s generous net metering policy when you install solar energy in Arkansas.

From small systems that can power one or two major appliances, to large systems that can power an entire large house, there are several different types of efficient solar systems. Which one is right for your home and situation? Each option is powered by photovoltaic components, but they all differ in size and the potential energy collected.

Portable Solar System

A portable solar power system is the smallest type of system and is ideal for use in campers, RVs or trailers. These units only use one panel and, therefore, are only strong enough to power one or maybe two appliances, like a laptop or a TV.

Grid-Tied Solar Energy System

In a grid-tied solar system, you’ll generate some solar energy, but you’ll still get most of your electricity from your power company. This is the most economical solar system outside of simply having a portable unit, and it does qualify for a net metering situation in the state of Arkansas.

Grid-Tied Solar System with Battery Backup

Here, you’ll likely use very little electricity from your power company, since you’ll be collecting your own solar power, and you’ll have a solar-powered backup battery as well. This type of system should be able to run most homes on solar power, as long as the system remains installed and in good working condition. The backup battery is great for emergency use or if your main system requires maintenance.

Off-Grid Solar Energy Systems

An off-grid solar power system allows you to have electricity without drawing from an electric company at all. This type of system will be the most expensive, but also the most comprehensive type of solar system.

There are many solar panel providers in the state of Arkansas. In general, you could follow the tips listed below in order to find the right provider for your needs.

• Check reviews
• Ask on local sites like Facebook or Yelp
• Decide whether you want a local company or a national provider
• Check for certifications and licenses
• Review financing options