Solar Panel Cost Guide in Morrilton, AR (2023 Update)
- Morrilton Solar Installation Cost: $15,131
- 25-Year Savings: $22,349
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Morrilton
Find out what the average cost of installing solar panels is in Morrilton.
The average cost of a solar system in Morrilton is 2.54 per watt. To cover the typical energy usage of the average home in Morrilton, most homeowners require a 8.5-kilowatt system. Using the figure above, a solar installation costs around $15,131, or $21,637 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
To receive a free estimate from a highly rated solar installer in Morrilton, you can click the button below.
Solar savings over time in Morrilton
| Year | Return on Investment |
|---|---|
| 1 years | $-13,632 |
| 3 years | $-10,633 |
| 5 years | $-7,635 |
| 7 years | $-4,636 |
| 9 years | $-1,638 |
| 11 years | $1,360 |
| 13 years | $4,359 |
| 15 years | $7,357 |
| 17 years | $10,355 |
| 19 years | $13,354 |
| 21 years | $16,352 |
| 23 years | $19,351 |
| 25 years | $22,349 |
Top Solar Installers in Morrilton
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar panel installer can make converting to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Morrilton
Factors that Affect Solar Panel Costs in Morrilton
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Morrilton: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Morrilton have solar loans, which reduce your upfront costs of installing solar panels. While solar loans make switching to solar energy more accessible for Morrilton homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Morrilton, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $15,318 | 10.5 years |
| 8 kW | $2.59 | $14,508 | $20,709 | 10.3 years |
| 10 kW | $2.54 | $17,780 | $26,242 | 10.1 years |
| 12 kW | $2.49 | $20,909 | $31,917 | 9.9 years |
| 14 kW | $2.44 | $23,896 | $37,734 | 9.7 years |
| 16 kW | $2.39 | $26,741 | $43,694 | 9.5 years |
| 18 kW | $2.34 | $29,444 | $49,796 | 9.3 years |
| 20 kW | $2.29 | $32,004 | $56,040 | 9.1 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Morrilton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability 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.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Morrilton, AR Solar Cost FAQs
How much does it cost to install solar panels in Morrilton?
The average cost of solar panels in Morrilton 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 kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Morrilton?
Leasing solar panels can be an attractive choice, as it often 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 maximize your savings.
Can you sell solar power back to the grid in Morrilton?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last 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.