Solar Panel Cost Guide in Lowell, AR (2023 Update)
- Lowell Solar Installation Cost: $15,237
- 25-Year Savings: $19,778
- Payback Period: 10.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lowell
Find out what the average cost of solar panels are in Lowell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lowell, the average cost of a solar system is 2.54 per watt. Since a 8.6-kW system is needed to cover the energy usage of a typical home in Lowell, the average price of going solar will be about $15,237 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Lowell homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Lowell can save around $16,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lowell
| Year | Return on Investment |
|---|---|
| 1 years | $-13,837 |
| 3 years | $-11,036 |
| 5 years | $-8,234 |
| 7 years | $-5,433 |
| 9 years | $-2,632 |
| 11 years | $169 |
| 13 years | $2,971 |
| 15 years | $5,772 |
| 17 years | $8,573 |
| 19 years | $11,374 |
| 21 years | $14,176 |
| 23 years | $16,977 |
| 25 years | $19,778 |
Top Solar Installers in Lowell
When going solar, many homeowners opt to use a solar installer since handling can be a challenging project. The payback period on a solar system will vary based on factors like your location and energy needs, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
There are a number of licensed solar professionals that can help you install your solar system. 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 Lowell
Factors that Affect Solar Panel Costs in Lowell
For many Lowell homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Lowell, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Lowell. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lowell, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Lowell, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When estimating 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
Finally, the company you opt for to install your solar system can affect the cost. Lowell's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.64 | $11,095 | $13,419 | 11.3 years |
| 8 kW | $2.59 | $14,508 | $18,176 | 11.1 years |
| 10 kW | $2.54 | $17,780 | $23,076 | 10.9 years |
| 12 kW | $2.49 | $20,909 | $28,118 | 10.7 years |
| 14 kW | $2.44 | $23,896 | $33,302 | 10.4 years |
| 16 kW | $2.39 | $26,741 | $38,628 | 10.2 years |
| 18 kW | $2.34 | $29,444 | $44,097 | 10.0 years |
| 20 kW | $2.29 | $32,004 | $49,708 | 9.8 years |
How to Save on Solar Panels
There are a lot of 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:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Reputation: Make sure your solar panel 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 EcoWatch.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
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 Lowell, AR Solar Cost FAQs
What is the average cost of installing solar panels in Lowell?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Lowell?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Lowell have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
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 larger amount 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.