Solar Panel Cost Guide in Monticello, AR (2024 Update)

  • Monticello Solar Installation Cost: $20,048
  • 25-Year Savings: $24,260
  • Payback Period: 12.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Monticello

Let’s have a look at the average cost of solar panels in Monticello.

Although the national average of solar panels is $2.66 per watt, solar panels in Monticello typically cost about 3.To cover the typical energy usage of the average home in Monticello, most homeowners require a 8.2-kilowatt system. Using the figure above, a solar installation costs about $20,048, or $28,669 before the federal solar tax credit of 0 is applied.

Remember 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 solar system you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on energy bills.

To calculate your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Monticello

Year Return on Investment
1 years $-18,591
3 years $-15,679
5 years $-12,767
7 years $-9,855
9 years $-6,943
11 years $-4,031
13 years $-1,119
15 years $1,793
17 years $4,705
19 years $7,618
21 years $10,530
23 years $13,442
25 years $16,354

Top Solar Installers in Monticello

Although it's possible to install solar panels by yourself, it requires extra time and handiness. For that reason, most homeowners choose to go with a solar panel installer. Some solar companies, particularly local ones, can help you make the most of incentives in Monticello, optimizing your ROI.

If you’d like to go solar but still aren’t certain which solar company to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Monticello

Factors that Affect Solar Panel Costs in Monticello

The cost of installing a solar system in Monticello can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

When it comes to estimating the price of a solar energy system in Monticello, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $3,490 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Monticello, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Monticello to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The remaining key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Monticello, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 $13,161 13.4 years
8 kW $3.56 $19,935 $17,939 13.2 years
10 kW $3.49 $24,430 $22,913 12.9 years
12 kW $3.42 $28,730 $28,082 12.6 years
14 kW $3.35 $32,834 $33,446 12.4 years
16 kW $3.28 $36,743 $39,006 12.1 years
18 kW $3.21 $40,456 $44,761 11.9 years
20 kW $3.14 $43,974 $50,712 11.6 years

How to Save on Solar Panels

The solar installer you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:

  • Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
  • Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Monticello, AR Solar Cost FAQs

How much does it cost to install solar panels in Monticello?

The average cost of solar panels in Monticello is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Monticello?

A solar panel system isn’t free in Monticello, 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 help lower the cost.

Is going solar worth it?

Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.

How often do you have to replace solar panels?

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 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.

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