Solar Panel Cost Guide in Lowell, AR (2023 Update)
- Lowell Solar Installation Cost: $20,937
- 25-Year Savings: $19,777
- Payback Period: 14.9 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Lowell
We go over average solar pricing in Lowell.
While the national average of solar panels is $2.66 per watt, solar panels in Lowell typically cost about 3.To cover the typical energy usage of the average home in Lowell, most homeowners require a 8.6-kilowatt system. Using the figure above, a solar installation costs around $20,937, or $29,940 before the federal solar tax credit of 0 is applied.
The true price you pay can go above or below the average in Lowell depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average Lowell homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lowell
| Year | Return on Investment |
|---|---|
| 1 years | $-19,589 |
| 3 years | $-16,892 |
| 5 years | $-14,195 |
| 7 years | $-11,498 |
| 9 years | $-8,801 |
| 11 years | $-6,104 |
| 13 years | $-3,407 |
| 15 years | $-710 |
| 17 years | $1,987 |
| 19 years | $4,684 |
| 21 years | $7,381 |
| 23 years | $10,078 |
| 25 years | $12,775 |
Top Solar Installers in Lowell
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring an installer can make your swap to solar power much easier. The expertise that solar companies provide can be valuable as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
If you’d like to go solar but still aren’t certain which solar panel installer to go with, here are our recommendations for providers nearby:
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 Lowell
Factors that Affect Solar Panel Costs in Lowell
Although the average cost of a solar system in Lowell is $20,937, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need, 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. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lowell to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Lowell, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more 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 promotion can bring their pricing lower 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 | $3.63 | $15,244 | $9,269 | 15.5 years |
| 8 kW | $3.56 | $19,935 | $12,750 | 15.2 years |
| 10 kW | $3.49 | $24,430 | $16,426 | 14.9 years |
| 12 kW | $3.42 | $28,730 | $20,297 | 14.6 years |
| 14 kW | $3.35 | $32,834 | $24,364 | 14.4 years |
| 16 kW | $3.28 | $36,743 | $28,627 | 14.1 years |
| 18 kW | $3.21 | $40,456 | $33,085 | 13.8 years |
| 20 kW | $3.14 | $43,974 | $37,738 | 13.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Lowell, AR Solar Cost FAQs
How much does it cost to install solar panels in Lowell?
The average cost of solar panels in Lowell is about $17,450 for a 5-kW system and $34,900 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 Lowell?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure 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 savings from going solar.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Lowell, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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 house 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.