Solar Panel Cost Guide in El Dorado, AR (Sep 2022)

  • El Dorado Solar Installation Cost: $14,526
  • 25-Year Savings: $26,320
  • Payback Period: 8.9 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 El Dorado

Find out how much it might cost to go solar in El Dorado.

The average cost of a solar system in El Dorado is $3 per watt. Since a 8.2-kW system is needed to cover the energy costs of a typical home in El Dorado, the average price of going solar will be about $14,526 before claiming the federal solar tax credit of 30%.

These figures are just estimates, and how much solar costs for you may differ based on the amount of energy your home requires and what company you choose to go with. With typical savings of about $19,000 on power bills over 20 years, many homeowners in El Dorado find going solar has a decent ROI.

You can click the button below to get connected with a pre-vetted solar installer in El Dorado that can help you get a more accurate cost estimate for your home.

Solar savings over time in El Dorado

Year Return on Investment
1 years $-12,892
3 years $-9,625
5 years $-6,357
7 years $-3,089
9 years $178
11 years $3,446
13 years $6,714
15 years $9,981
17 years $13,249
19 years $16,517
21 years $19,785
23 years $23,052
25 years $26,320

Top Solar Installers in El Dorado

Although it's possible to install solar panels on your own, it involves extra effort and knowledge. That's why most people choose to hire a solar panel installer. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what brand of solar equipment would be right for your home.

If you'd like to make the switch to solar but still aren't certain which solar panel company to go with, here are our suggestions for providers 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 El Dorado

Factors that Affect Solar Panel Costs in El Dorado

For many El Dorado homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in El Dorado, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

When it comes to estimating the cost of solar panels in El Dorado, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,540 for each additional kilowatt you need. The model of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, 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 looking into a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in El Dorado to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

Finally, the company you hire to install your solar panels can influence how much it costs. El Dorado's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.

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 $18,895 9.2 years
8 kW $2.59 $14,508 $25,478 9.1 years
10 kW $2.54 $17,780 $32,204 8.9 years
12 kW $2.49 $20,909 $39,071 8.7 years
14 kW $2.44 $23,896 $46,081 8.5 years
16 kW $2.39 $26,741 $53,233 8.4 years
18 kW $2.34 $29,444 $60,527 8.2 years
20 kW $2.29 $32,004 $67,963 8.0 years

Solar Incentives in El Dorado

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

How to Save on Solar Panels

There are a large number of companies available in El Dorado, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:

  • Warranty: If you're concerned about the longevity of your solar panel system, checking your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
  • Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.

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 El Dorado, AR Solar Cost FAQs

How much does it cost to install solar panels in El Dorado?

This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in El Dorado?

A solar panel system isn't free in El Dorado, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

How much can I save on energy bills after installing solar panels?

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 $999.67 per year.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 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.

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