Solar Panel Cost Guide in Booneville, AR (2023 Update)
- Booneville Solar Installation Cost: $20,696
- 25-Year Savings: $19,923
- Payback Period: 14.8 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Booneville
Find out what the average cost of a solar system is in Booneville.
The average cost of a solar system in Booneville is 2.54 per watt.To account for the typical energy needs of the average home in Booneville, most homeowners require a 8.5-kilowatt system. Using the figure above, a solar installation costs about $15,060, or $21,536 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Booneville homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the significant upfront cost, the average Booneville homeowner can save about $16,000 on their power bills over 20 years, which is one of the advantages of solar.
To get a free quote from a highly rated solar installation company in Booneville, you can click the button below.
Solar savings over time in Booneville
| Year | Return on Investment |
|---|---|
| 1 years | $-19,240 |
| 3 years | $-16,328 |
| 5 years | $-13,416 |
| 7 years | $-10,503 |
| 9 years | $-7,591 |
| 11 years | $-4,679 |
| 13 years | $-1,767 |
| 15 years | $1,145 |
| 17 years | $4,057 |
| 19 years | $6,969 |
| 21 years | $9,881 |
| 23 years | $12,794 |
| 25 years | $15,706 |
Top Solar Installers in Booneville
Many homeowners decide to use a solar installation company since figuring out how to install solar panels on your own can be time-consuming. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your home.
If you'd like to start using solar energy but still aren't sure which solar system installer to go with, here are our suggestions for providers near you:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Booneville
Factors that Affect Solar Panel Costs in Booneville
There are several factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,540. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Booneville offer solar loans, which reduce your upfront costs of installing solar.You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Booneville, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.63 | $15,244 | $9,534 | 15.4 years |
| 8 kW | $3.56 | $19,935 | $13,103 | 15.1 years |
| 10 kW | $3.49 | $24,430 | $16,867 | 14.8 years |
| 12 kW | $3.42 | $28,730 | $20,827 | 14.5 years |
| 14 kW | $3.35 | $32,834 | $24,982 | 14.2 years |
| 16 kW | $3.28 | $36,743 | $29,333 | 13.9 years |
| 18 kW | $3.21 | $40,456 | $33,879 | 13.6 years |
| 20 kW | $3.14 | $43,974 | $38,621 | 13.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Booneville, AR Solar Cost FAQs
How much does it cost to install solar panels in Booneville?
The average cost of solar panels in Booneville is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Booneville?
You can't get solar panels for free in Booneville. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $825.95 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.