Arkansas' electricity prices average $0.10/kWh, well below the national average of $0.14/kWh. On average statewide grid power costs have slightly decreased, down from $0.11/kWh last year.
Cost of a Solar Install
The average cost of a 5.5kW (equivalent to saving over 100 trees a year) solar power system starts around $12,000 in Arkansas. That system would pay for itself through energy savings within 6-7.5 years. System life can span well over 25 years, and savings will improve with inflation.
Solar Energy Step by Step in Arkansas
Today solar accounts for just 0.6% of the state's net power generation. The state has no utility-scale wind farms, though several businesses that manufacture wind turbine components call Arkansas home.
In 2018 Arkansas surpassed 1,500 net metering systems, an increase of more than 50% over the prior year's figures. Under Arkansas' policy system owners are paid a full retail rate credit for energy put into the utility grid. A net-metered photovoltaic system in Arkansas can only generate 25kW, or about 80 standard solar panels. Don't worry though, this is more than enough power generation for even the largest of homes.
Solar Leasing News in Arkansas
Arkansas' legislature moved to allow solar leasing in 2019. Worthy of note, the state public utilities commission will have the power to determine if net metering represents an "undue burden" on non-solar customers. This only makes sense in the context of reduced compensation for grid-tie systems in the works. This means time is of the essence if you want to get a good solar lease in Arkansas!
