Solar Panel Cost Guide in Lonoke, AR (2024 Update)
- Lonoke Solar Installation Cost: $20,407
- 25-Year Savings: $22,628
- Payback Period: 13.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lonoke
Find out what the average cost of solar panels are in Lonoke.
The average cost of a solar system in Lonoke is 3 per watt.Because a 8.4-kW system is needed to cover the energy usage of a typical home in Lonoke, the average price of going solar will be about $20,407 after claiming the federal solar tax credit of 0.
These figures are just estimates, and how much solar costs for you may look different based on your energy needs and what company you want to go with.Despite the high initial cost, the average Lonoke homeowner can save about $17,000 on their energy bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lonoke
| Year | Return on Investment |
|---|---|
| 1 years | $-18,951 |
| 3 years | $-16,039 |
| 5 years | $-13,127 |
| 7 years | $-10,214 |
| 9 years | $-7,302 |
| 11 years | $-4,390 |
| 13 years | $-1,478 |
| 15 years | $1,434 |
| 17 years | $4,346 |
| 19 years | $7,258 |
| 21 years | $10,170 |
| 23 years | $13,082 |
| 25 years | $15,995 |
Top Solar Installers in Lonoke
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar company can make converting to solar power much easier. Some solar installers, particularly local ones, can help you make the most of incentives in Lonoke, optimizing your ROI.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Lonoke
Factors that Affect Solar Panel Costs in Lonoke
The cost of installing a solar system in Lonoke can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,490. The model of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Lonoke homeowners decide to finance their solar panel systems to offset upfront costs.Even though solar loans make going solar more accessible for Lonoke homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
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 Lonoke is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that provide a range of services at different price points.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that offers the products, warranties and services you want and also fits within your budget.
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 | $11,677 | 14.2 years |
| 8 kW | $3.56 | $19,935 | $15,960 | 13.9 years |
| 10 kW | $3.49 | $24,430 | $20,438 | 13.6 years |
| 12 kW | $3.42 | $28,730 | $25,112 | 13.3 years |
| 14 kW | $3.35 | $32,834 | $29,982 | 13.1 years |
| 16 kW | $3.28 | $36,743 | $35,047 | 12.8 years |
| 18 kW | $3.21 | $40,456 | $40,307 | 12.5 years |
| 20 kW | $3.14 | $43,974 | $45,763 | 12.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When reading through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the completion timeline.
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 Lonoke, AR Solar Cost FAQs
What is the average cost of installing solar panels in Lonoke?
This is a hard question to answer precisely, because the cost depends on many 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Lonoke?
You can’t get solar panels for free in Lonoke. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $897.37 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 install 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.