Solar Panel Cost Guide in Booneville, AR (Mar 2023)
- Booneville Solar Installation Cost: $15,060
- 25-Year Savings: $19,926
- Payback Period: 10.8 Years
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Updated March 14, 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Booneville, the average cost of a solar system is 2.54 per watt. The average Booneville homeowner needs a 8.5-kilowatt system, which would cost about $15,060 with the federal tax credit, or $21,536 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Booneville homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Booneville can save about $16,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar company in Booneville for a quote for your home.
Solar savings over time in Booneville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,660 |
| 3 years | $-10,861 |
| 5 years | $-8,063 |
| 7 years | $-5,264 |
| 9 years | $-2,465 |
| 11 years | $334 |
| 13 years | $3,133 |
| 15 years | $5,931 |
| 17 years | $8,730 |
| 19 years | $11,529 |
| 21 years | $14,328 |
| 23 years | $17,127 |
| 25 years | $19,926 |
Top Solar Installers in Booneville
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make converting to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Booneville
Factors that Affect Solar Panel Costs in Booneville
The cost of installing a solar system in Booneville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Booneville average.
Solar Financing Terms
Most solar companies in Booneville offer solar loans, which reduce your upfront costs of installing a solar system. While solar loans make going solar more accessible for Booneville homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
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 compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $2.64 | $11,095 | $13,684 | 11.2 years |
| 8 kW | $2.59 | $14,508 | $18,529 | 11.0 years |
| 10 kW | $2.54 | $17,780 | $23,517 | 10.8 years |
| 12 kW | $2.49 | $20,909 | $28,648 | 10.5 years |
| 14 kW | $2.44 | $23,896 | $33,920 | 10.3 years |
| 16 kW | $2.39 | $26,741 | $39,335 | 10.1 years |
| 18 kW | $2.34 | $29,444 | $44,892 | 9.9 years |
| 20 kW | $2.29 | $32,004 | $50,591 | 9.7 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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.