Solar Panel Cost Guide in Little Rock, AR (Jul 2022)
- Little Rock Solar Installation Cost: $15,770
- 25-Year Savings: $21,808
- Payback Period: 10.5 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Little Rock
Find out what the average cost of installing solar panels is in Little Rock.
In Little Rock, solar panels cost about $3 per watt on average. The average Little Rock homeowner needs an 8.4-kilowatt system, which would cost about $15,770, or $11,670 after the federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Little Rock depending on several factors, such as the model of solar panels you choose and the solar company you hire. Even with the high initial cost, the average Little Rock homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a pre-vetted solar installation company in Little Rock, you can click the button below.
Solar savings over time in Little Rock
| Year | Return on Investment |
|---|---|
| 1 years | $-14,267 |
| 3 years | $-11,261 |
| 5 years | $-8,254 |
| 7 years | $-5,248 |
| 9 years | $-2,242 |
| 11 years | $764 |
| 13 years | $3,770 |
| 15 years | $6,777 |
| 17 years | $9,783 |
| 19 years | $12,789 |
| 21 years | $15,795 |
| 23 years | $18,801 |
| 25 years | $21,808 |
Top Solar Installers in Little Rock
Many homeowners choose to hire a solar installer since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for your home.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Little Rock
Factors that Affect Solar Panel Costs in Little Rock
Even though the average cost of solar panels in Little Rock is $15,770, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment Size
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Little Rock. The type of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on 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 for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk 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 promotion 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 | $11,729 | $15,154 | 10.9 years |
| 8 kW | $2.59 | $15,338 | $20,506 | 10.7 years |
| 10 kW | $2.54 | $18,796 | $26,008 | 10.5 years |
| 12 kW | $2.49 | $22,104 | $31,661 | 10.3 years |
| 14 kW | $2.44 | $25,262 | $37,464 | 10.1 years |
| 16 kW | $2.39 | $28,269 | $43,417 | 9.9 years |
| 18 kW | $2.34 | $31,126 | $49,521 | 9.6 years |
| 20 kW | $2.29 | $33,833 | $55,775 | 9.4 years |
Solar Incentives in Little Rock
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
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 Little Rock, AR Solar Cost FAQs
What is the average cost of installing solar panels in Little Rock?
The average cost of solar panels in Little Rock 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 such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Little Rock?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Little Rock?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 get 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.
