Solar Panel Cost Guide in Shannon Hills, AR (2024 Update)
- Shannon Hills Solar Installation Cost: $20,548
- 25-Year Savings: $21,588
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Shannon Hills
We go over average solar pricing in Shannon Hills.
In Shannon Hills, solar panels cost about 3 per watt on average.The average solar panel system size in Shannon Hills is around 8.4 kilowatts, meaning a cost of about $20,548 for a solar installation, or $29,384 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what company you go with.For most homeowners, the upfront investment in solar is worth paying. On average Shannon Hills homeowners see about $17,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Shannon Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-19,092 |
| 3 years | $-16,179 |
| 5 years | $-13,267 |
| 7 years | $-10,355 |
| 9 years | $-7,443 |
| 11 years | $-4,531 |
| 13 years | $-1,619 |
| 15 years | $1,293 |
| 17 years | $4,205 |
| 19 years | $7,118 |
| 21 years | $10,030 |
| 23 years | $12,942 |
| 25 years | $15,854 |
Top Solar Installers in Shannon Hills
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make converting to solar power much easier. Local solar installers can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
There are various 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
See all of the solar companies in Shannon Hills
Factors that Affect Solar Panel Costs in Shannon Hills
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Shannon Hills: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,490 per kilowatt in Shannon Hills.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Shannon Hills average.
Solar Financing Terms
Many homeowners find the average cost of solar in Shannon Hills to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you select will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, 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 | $3.63 | $15,244 | $10,824 | 14.6 years |
| 8 kW | $3.56 | $19,935 | $14,823 | 14.3 years |
| 10 kW | $3.49 | $24,430 | $19,017 | 14.1 years |
| 12 kW | $3.42 | $28,730 | $23,406 | 13.8 years |
| 14 kW | $3.35 | $32,834 | $27,992 | 13.5 years |
| 16 kW | $3.28 | $36,743 | $32,772 | 13.2 years |
| 18 kW | $3.21 | $40,456 | $37,748 | 12.9 years |
| 20 kW | $3.14 | $43,974 | $42,919 | 12.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Warranty: If you’re worried about the durability of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
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 Shannon Hills, AR Solar Cost FAQs
How much does it cost to install solar panels in Shannon Hills?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Shannon Hills?
Solar panels aren’t free in Shannon Hills, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after switching to solar?
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 $868.93 per year.
How long do solar panels last in Shannon Hills?
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 higher level 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.