Solar Panel Cost Guide in Booneville, AR (2024 Update)
- Booneville Solar Installation Cost: $20,696
- 25-Year Savings: $19,923
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Booneville
We go over average solar pricing in Booneville.
The average cost of a solar panel system in Booneville is 3 per watt.Using this figure, a typical 8.5-kW system would cost about $20,696 before the 0 federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Booneville depending on several factors, such as the kind of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Booneville
| Year | Return on Investment |
|---|---|
| 1 years | $-19,240 |
| 3 years | $-16,328 |
| 5 years | $-13,416 |
| 7 years | $-10,503 |
| 9 years | $-7,591 |
| 11 years | $-4,679 |
| 13 years | $-1,767 |
| 15 years | $1,145 |
| 17 years | $4,057 |
| 19 years | $6,969 |
| 21 years | $9,881 |
| 23 years | $12,794 |
| 25 years | $15,706 |
Top Solar Installers in Booneville
Many homeowners decide to use a solar panel installer since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. Plus, if you aren’t sure what kind of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Booneville
Factors that Affect Solar Panel Costs in Booneville
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Booneville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,490.The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about 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’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.Although solar loans make switching to solar energy more accessible for Booneville homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Booneville is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,534 | 15.4 years |
| 8 kW | $3.56 | $19,935 | $13,103 | 15.1 years |
| 10 kW | $3.49 | $24,430 | $16,867 | 14.8 years |
| 12 kW | $3.42 | $28,730 | $20,827 | 14.5 years |
| 14 kW | $3.35 | $32,834 | $24,982 | 14.2 years |
| 16 kW | $3.28 | $36,743 | $29,333 | 13.9 years |
| 18 kW | $3.21 | $40,456 | $33,879 | 13.6 years |
| 20 kW | $3.14 | $43,974 | $38,621 | 13.3 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: When reading through 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 like a system part breaking or the company going out of business.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Booneville, AR Solar Cost FAQs
How much does it cost to install solar panels in Booneville?
The average cost of solar panels in Booneville is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Does Booneville have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Booneville?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.