Solar Panel Cost Guide in Conway, FL (2023 Update)
- Conway Solar Installation Cost: $9,695
- 25-Year Savings: $21,159
- Payback Period: 7.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Conway
Let's have a look at the average cost of solar in Conway.
The national average cost of solar panels is $2.66 per watt, but in Conway it's 2.53 per watt. To account for the typical energy usage of the average home in Conway, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs around $9,687, or $13,852 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Conway depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire. With average savings of about $21,000 on energy bills over 20 years, many homeowners in Conway find going solar can pay off big.
Click the button below to get connected to a vetted solar panel company in your area for a personalized estimate.
Solar savings over time in Conway
| Year | Return on Investment |
|---|---|
| 1 years | $-7,920 |
| 3 years | $-4,371 |
| 5 years | $-821 |
| 7 years | $2,728 |
| 9 years | $6,278 |
| 11 years | $9,827 |
| 13 years | $13,377 |
| 15 years | $16,927 |
| 17 years | $20,476 |
| 19 years | $24,026 |
| 21 years | $27,575 |
| 23 years | $31,125 |
| 25 years | $34,674 |
Top Solar Installers in Conway
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make your swap to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for you.
If you're looking for a solar company in Conway, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Conway
Factors that Affect Solar Panel Costs in Conway
For many Conway homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Conway, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar 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 pay about $2,530 per kilowatt in Conway. The kind of solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Conway average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Conway homeowners opt to finance their solar panel systems to make paying for solar more affordable. 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 more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Conway, you'll have many options to choose from, but each comes at different price points for labor and equipment. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $22,766 | 8.2 years |
| 8 kW | $2.58 | $14,451 | $30,638 | 8.0 years |
| 10 kW | $2.53 | $17,710 | $38,651 | 7.9 years |
| 12 kW | $2.48 | $20,827 | $46,806 | 7.7 years |
| 14 kW | $2.43 | $23,802 | $55,103 | 7.5 years |
| 16 kW | $2.38 | $26,636 | $63,542 | 7.4 years |
| 18 kW | $2.33 | $29,328 | $72,122 | 7.2 years |
| 20 kW | $2.28 | $31,878 | $80,844 | 7.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- 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 type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Conway, FL Solar Cost FAQs
How much does it cost to install solar panels in Conway?
The average cost of solar panels in Conway is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the model 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 Conway?
Leasing solar panels can be an attractive choice, because it commonly 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Conway is currently $255,017, so you can expect a value of about $10,456 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Conway is a rewarding investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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 home 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.