Solar Panel Cost Guide in El Dorado, AR (2024 Update)
- El Dorado Solar Installation Cost: $19,964
- 25-Year Savings: $26,317
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in El Dorado
We break down average solar pricing in El Dorado.
The average cost of a solar panel system in El Dorado is 3 per watt.The average solar panel system size in El Dorado is around 8.2 kilowatts, meaning a cost of about $19,964 for a solar installation, or $28,549 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely vary based on your specific situation and what company you want to go with.With typical savings of about $19,000 on energy bills over 20 years, many homeowners in El Dorado find going solar can pay off big.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in El Dorado
| Year | Return on Investment |
|---|---|
| 1 years | $-18,508 |
| 3 years | $-15,596 |
| 5 years | $-12,684 |
| 7 years | $-9,771 |
| 9 years | $-6,859 |
| 11 years | $-3,947 |
| 13 years | $-1,035 |
| 15 years | $1,877 |
| 17 years | $4,789 |
| 19 years | $7,701 |
| 21 years | $10,613 |
| 23 years | $13,525 |
| 25 years | $16,438 |
Top Solar Installers in El Dorado
Trying to put up solar panels on your own can be a difficult undertaking, which is why getting a solar installation company is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
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 El Dorado
Factors that Affect Solar Panel Costs in El Dorado
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in El Dorado: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your household, 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 about $3,490. There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you choose 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
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 company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s vital 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
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in El Dorado is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $3.63 | $15,244 | $14,746 | 12.7 years |
| 8 kW | $3.56 | $19,935 | $20,052 | 12.5 years |
| 10 kW | $3.49 | $24,430 | $25,554 | 12.2 years |
| 12 kW | $3.42 | $28,730 | $31,251 | 12.0 years |
| 14 kW | $3.35 | $32,834 | $37,143 | 11.7 years |
| 16 kW | $3.28 | $36,743 | $43,231 | 11.5 years |
| 18 kW | $3.21 | $40,456 | $49,514 | 11.2 years |
| 20 kW | $3.14 | $43,974 | $55,993 | 11.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- 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 likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best National Provider
SunPower
- 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
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 El Dorado, AR Solar Cost FAQs
How much does it cost to install solar panels in El Dorado?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in El Dorado?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.