The average cost of solar panels per watt in Arkansas is $3.91/W to date. A typical 6kW solar system will run you $23,477 before the Federal Solar Tax Credit and much lower after claiming ITC.
The Federal Investment Tax Credit – This government program is also known as Investment Tax Credit (ITC). It allows you to deduct 30% of the total cost of the solar equipment and its installation on your federal taxes and has no limit on its value.
Net Metering Program – Arkansas has a very advantageous Net Metering policy, where the entire price of any kWh you export to the grid becomes a credit on the next month’s bill. This ensures that you save the full price of every single kWh of energy produced by your system, rather than a tiny fraction of the price as in many other states.
Entergy Arkansas, LLC – Net Metering is available to residential customers whose Net Metering facilities have generator capacity up to 25kW (or generator capacity representing the customer's highest residential usage in the previous twelve months) and to non-residential customers with the generator capacity up to 300kW.
Arkansas is one of the south-central states of the US with a large number of sunny days per year and the Net Metering policy which is very favorable for owners of residential solar PV systems. If the financial aspect is not a key question for you and you are willing to contribute to environmental protection, the solar power system is definitely a good option for you.
When you install your solar system, 26% of your project expenses apply toward a credit to offset any taxes you owe that year. This federal tax credit is a major incentive to go solar, but it is being phased out by 2022.
Most people are eligible to claim this credit (you must owe federal taxes to be eligible).