Solar Panel Cost Guide in Conway, AR (2023 Update)
- Conway Solar Installation Cost: $15,077
- 25-Year Savings: $17,480
- Payback Period: 11.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Conway
Let's have a look at the average cost of solar in Conway.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Conway, the average cost of solar panels is 2.54 per watt. To cover the typical energy usage of the average home in Conway, most homeowners require a 8.5-kilowatt system. Using the figure above, a solar installation costs around $15,077, or $21,560 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what solar installer you go with. With average savings of about $15,000 on energy bills over 20 years, many homeowners in Conway find investing in solar can be quite rewarding.
To get a free quote from a highly rated solar installation company in Conway, you can 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
Putting up solar panels by yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. Plus, if you're not certain what type of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Conway
Factors that Affect Solar Panel Costs in Conway
The cost of installing a solar system in Conway can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer 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. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Conway, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Conway, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar system can play a part in determining your pricing. Conway's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: The model of solar panel you'd like to get plays a role in which company you should go with, since different companies have access to different panels.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 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.
Should I lease or buy solar panels in Conway?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Conway?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.