First National Bank of Fort Smith installs ‘solar garden’ at branch bank
by May 1, 2025 11:08 am 1,533 views
Solar panels at the Phoenix branch of First National Bank of Fort Smith
An almost completed “solar garden” adjacent to the First National Bank of Fort Smith Phoenix bank branch in Fort Smith is also a pause point with just under $1 million the bank has spent on solar energy infrastructure.
First National Bank CEO Sam Sicard said the “solar garden” – his term – idea hit when bank officials were trying to figure out what to do with less than a half acre next to the bank branch. The bank had already invested in rooftop panels on bank facilities in Fort Smith and Northwest Arkansas. They reached out to Little Rock-based Delta Solar to see if the small area would be suitable.
“It worked out, and it (the power generated) will offset (power used) at about four locations,” Sicard said.
The installation, including a decorative wrought-iron fence that will be built around the solar panels, cost around $380,000. Information from Karen Cardwell, senior vice president and director of bank operations, indicates that the four rows of solar panels should generate 208,975 kilowatt hours (kWh) annually, and result in estimated electricity savings of $17,136.
While the power generated by the panels will feed into the electric grid and offset the bank’s electric needs, the 208,975 kWh is enough to power about 20 residential homes, according to U.S. Energy Information Administration data.
Sicard said the bank also qualifies for a 30% tax credit on the panels. Between that and the energy savings, the solar garden will pay for itself in about a decade, he said. But Sicard and the bank are not now planning more solar installs.
“We’ve been happy with the savings so far to date. You know, it’s a scale thing so the more you do the more your return on investment is. … But we’ll probably take a break after this,” Sicard said.
According to the Solar Energy Industries Association, 2,770 megawatts of energy in Arkansas comes from solar, which is enough to power almost 324,000 homes and is 4.5% of all electricity generated in the state. Of the 2,770 megawatts, 1,654 was installed in 2024, according to the association.