Solar Panel Cost Guide in Shannon Hills, AR (Mar 2023)
- Shannon Hills Solar Installation Cost: $14,953
- 25-Year Savings: $21,590
- Payback Period: 10.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Shannon Hills
Let's take a look at the average cost of solar panels in Shannon Hills.
The national average cost of solar panels is $2.66 per watt, but in Shannon Hills it's 2.54 per watt. Using this figure, a typical 8.4-kW system would cost about $14,953 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar system you choose, your solar contractor and more. With average savings of about $17,000 on utility bills over 20 years, many homeowners in Shannon Hills find going solar has a decent ROI.
To get a free estimate from a vetted solar installation company in Shannon Hills, you can click the button below.
Solar savings over time in Shannon Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-13,491 |
| 3 years | $-10,568 |
| 5 years | $-7,644 |
| 7 years | $-4,721 |
| 9 years | $-1,798 |
| 11 years | $1,126 |
| 13 years | $4,049 |
| 15 years | $6,973 |
| 17 years | $9,896 |
| 19 years | $12,819 |
| 21 years | $15,743 |
| 23 years | $18,666 |
| 25 years | $21,590 |
Top Solar Installers in Shannon Hills
Installing solar panels on your own can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be right for your family.
There are a number of licensed solar professionals that can take care of your solar installation project. 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 Shannon Hills
Factors that Affect Solar Panel Costs in Shannon Hills
There are a number of factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on 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 into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Shannon Hills to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better 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 | $2.64 | $11,095 | $14,973 | 10.6 years |
| 8 kW | $2.59 | $14,508 | $20,249 | 10.4 years |
| 10 kW | $2.54 | $17,780 | $25,667 | 10.2 years |
| 12 kW | $2.49 | $20,909 | $31,227 | 10.0 years |
| 14 kW | $2.44 | $23,896 | $36,929 | 9.8 years |
| 16 kW | $2.39 | $26,741 | $42,774 | 9.6 years |
| 18 kW | $2.34 | $29,444 | $48,760 | 9.4 years |
| 20 kW | $2.29 | $32,004 | $54,889 | 9.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Shannon Hills, 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: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Shannon Hills, AR Solar Cost FAQs
What is the average cost of installing solar panels in Shannon Hills?
The average cost of solar panels in Shannon Hills 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Shannon Hills?
A solar panel system isn't free in Shannon Hills, but there are some options that can make getting them more feasible, 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 will having solar panels impact my home value?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 get 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.