Solar Panel Cost Guide in Little Rock, IL (2023 Update)
- Little Rock Solar Installation Cost: $12,383
- 25-Year Savings: $11,167
- Payback Period: 13.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Little Rock
Find out what the average cost of installing solar panels is in Little Rock.
The national average cost of solar panels is $2.66 per watt, but in Little Rock it's 2.73 per watt. Because a 6.5-kW system is needed to cover the energy usage of a typical home in Little Rock, the average price of going solar will be about $12,383 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
To get a free estimate from a pre-vetted solar company in Little Rock, you can click the button below.
Solar savings over time in Little Rock
| Year | Return on Investment |
|---|---|
| 1 years | $-11,441 |
| 3 years | $-9,557 |
| 5 years | $-7,673 |
| 7 years | $-5,789 |
| 9 years | $-3,905 |
| 11 years | $-2,021 |
| 13 years | $-137 |
| 15 years | $1,747 |
| 17 years | $3,631 |
| 19 years | $5,515 |
| 21 years | $7,399 |
| 23 years | $9,283 |
| 25 years | $11,167 |
Top Solar Installers in Little Rock
DIY 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 panel installer can make your swap to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're searching for a solar company in Little Rock, we've put together 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 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 Little Rock
Factors that Affect Solar Panel Costs in Little Rock
Even though the average cost of a solar system in Little Rock is $12,383, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant 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 power your household uses, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Little Rock. The kind of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, 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 searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Little Rock to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest. It's wise to include 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Little Rock, you'll have many options to choose from, but each comes at different price points 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 pricing, or you might see small, local installation companies offering deals or specials 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 | $2.84 | $11,925 | $9,881 | 13.7 years |
| 8 kW | $2.78 | $15,594 | $13,480 | 13.4 years |
| 10 kW | $2.73 | $19,110 | $17,232 | 13.1 years |
| 12 kW | $2.68 | $22,473 | $21,138 | 12.9 years |
| 14 kW | $2.62 | $25,684 | $25,196 | 12.6 years |
| 16 kW | $2.57 | $28,741 | $29,406 | 12.4 years |
| 18 kW | $2.51 | $31,646 | $33,770 | 12.1 years |
| 20 kW | $2.46 | $34,398 | $38,287 | 11.8 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 decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Little Rock, IL Solar Cost FAQs
How much does it cost to install solar panels in Little Rock?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Little Rock?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $726.85 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.