Solar Panel Cost Guide in Shannon Hills, AR (2024 Update)
- Shannon Hills Solar Installation Cost: $20,548
- 25-Year Savings: $21,588
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Shannon Hills
We go over average solar pricing in Shannon Hills.
In Shannon Hills, solar panels cost about 3 per watt on average.Because a 8.4-kW system is needed to cover the energy consumption of a typical home in Shannon Hills, the average price of going solar will be about $20,548 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary based on several factors, such as what size system you need, your energy consumption and what company you go with.Even with the high upfront cost, the average Shannon Hills homeowner can save around $17,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a vetted solar installer in Shannon Hills for a customized quote.
Solar savings over time in Shannon Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-19,092 |
| 3 years | $-16,179 |
| 5 years | $-13,267 |
| 7 years | $-10,355 |
| 9 years | $-7,443 |
| 11 years | $-4,531 |
| 13 years | $-1,619 |
| 15 years | $1,293 |
| 17 years | $4,205 |
| 19 years | $7,118 |
| 21 years | $10,030 |
| 23 years | $12,942 |
| 25 years | $15,854 |
Top Solar Installers in Shannon Hills
Although it's possible to install solar panels by yourself, it requires extra effort and know-how. That's why the majority of homeowners choose a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Shannon Hills, therefore optimizing your ROI.
If you’d like to go solar but still aren’t sure which solar system company to go with, here are our recommendations for providers near you:
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 Shannon Hills
Factors that Affect Solar Panel Costs in Shannon Hills
For many Shannon Hills homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Shannon Hills, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Shannon Hills, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your total cost can increase by about $3,490 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Shannon Hills, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
If paying for solar panels in cash is difficult, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Even though solar loans make going solar more accessible for Shannon Hills homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Shannon Hills, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $10,824 | 14.6 years |
| 8 kW | $3.56 | $19,935 | $14,823 | 14.3 years |
| 10 kW | $3.49 | $24,430 | $19,017 | 14.1 years |
| 12 kW | $3.42 | $28,730 | $23,406 | 13.8 years |
| 14 kW | $3.35 | $32,834 | $27,992 | 13.5 years |
| 16 kW | $3.28 | $36,743 | $32,772 | 13.2 years |
| 18 kW | $3.21 | $40,456 | $37,748 | 12.9 years |
| 20 kW | $3.14 | $43,974 | $42,919 | 12.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: If you care about the durability of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
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 Shannon Hills, AR Solar Cost FAQs
How much does it cost to install solar panels in Shannon Hills?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Shannon Hills?
You can’t get solar panels for free in Shannon Hills. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Shannon Hills, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.