Solar Panel Cost Guide in Conway, AR (Oct 2022)

  • Conway Solar Installation Cost: $15,077
  • 25-Year Savings: $17,480
  • Payback Period: 11.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Conway

Let's have a look at the average cost of solar in Conway.

The national average cost of solar panels is $2.66 per watt, but in Conway it's $3 per watt. Using this figure, a typical 8.5 would cost about $15,077 before the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Conway homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.

To see your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in Conway

Year Return on Investment
1 years $-13,775
3 years $-11,171
5 years $-8,566
7 years $-5,961
9 years $-3,357
11 years $-752
13 years $1,852
15 years $4,457
17 years $7,061
19 years $9,666
21 years $12,270
23 years $14,875
25 years $17,480

Top Solar Installers in Conway

Although you can install solar panels by yourself, it takes extra energy and know-how. That's one of the reasons most people choose to go with a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for you.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Conway

Factors that Affect Solar Panel Costs in Conway

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Conway: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size. Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. The type of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Conway homeowners choose to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Conway, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Conway are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $11,953 12.0 years
8 kW $2.59 $14,508 $16,222 11.8 years
10 kW $2.54 $17,780 $20,633 11.6 years
12 kW $2.49 $20,909 $25,187 11.3 years
14 kW $2.44 $23,896 $29,883 11.1 years
16 kW $2.39 $26,741 $34,720 10.9 years
18 kW $2.34 $29,444 $39,701 10.6 years
20 kW $2.29 $32,004 $44,823 10.4 years

Solar Incentives in Conway

Name First Electric Cooperative - Home Improvement Loans
Incentive Amount $500- $15,000
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar panel company you go with will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:

  • Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
  • Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
  • Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Conway, AR Solar Cost FAQs

What is the average cost of installing solar panels in Conway?

The average cost of solar panels in Conway is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to keep in mind when buying solar panels?

The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

How much can I save on electricity bills after switching to solar?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Conway, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

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