Solar Panels Cost $11k-$21k in El Dorado, AR | October, 2024
High Power Bills?
Reduce or replace your electricity bill with solar
No data available
How much do solar panels cost in El Dorado, AR in 2024?
No data available
For the month of October, 2024, the price per watt for solar panel systems in El Dorado, AR is $3.37/W, on average.
In other words, solar panel installations will cost you about $3,370 per 1 kW (or 1000 watts) of production capacity. When you subtract the 30% federal tax credit, you will pay around $11,795 for a 5 kW panel install in El Dorado. However, a 5kW system may not be big enough to ensure your energy needs are met.
To the left, you can select your county to find out the average roof size and the maximum capacity of solar panels for houses in your area. You can review the costs, payback period, and 20-year average savings for a 5 kW system in your county below.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
El Dorado: $11,795US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
El Dorado: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
El Dorado: $17,204US Average: $15,784
Solar Potential in El Dorado
Estimated system size and solar electricity production per median viable roof in El Dorado.
Roof size 912sq. ft.
Capacity 12.75kW DC
Electricity 15.8kkWh AC per yr.
Electricity Costs in El Dorado, AR & What that Means for Your Solar Panel Pricing
The average electricity bill in El Dorado, for a usage of 1,079 kWh per month, is $141.89. This figure also factors in the energy needs of apartments and smaller dwellings.
In October 2024, the average electricity rate in El Dorado, AR amounts to 13.15¢ per kWh.
In El Dorado, average users will require a system size of 9 kW or greater to fully meet their entire energy usage requirements. The cost of a a 9 kW solar system is approximately $30,330 initially, but the federal tax credit provides a 30% credit, reducing your total to $21,231.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in El Dorado
Presented on the left, you will find a cost summary for different solar panel system sizes installed in El Dorado. The bigger the solar array, the larger the initial expense, but also the greater electricity savings and income tax credits you'll receive.
The breakdown of costs and benefits for solar panels, displayed in the calculator below and to the right, is based on an average electric bill of $141.89 in El Dorado. For more specific results, just change the $141.89 with whatever your average electricity bill is.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $978 a year
Est. Price
$11,795
Savings from a 5kWthis system
Est. yearly production 7,519 kWh
Est. monthly savings $81
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 4.22 tons a year
Equivalent to planting 194 trees a year
Equivalent to driving 10,446 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,173 a year
Est. Price
$14,154
Savings from a 6kWthis system
Est. yearly production 9,023 kWh
Est. monthly savings $98
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 5.06 tons a year
Equivalent to planting 233 trees a year
Equivalent to driving 12,535 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,369 a year
Est. Price
$16,513
Savings from a 7kWthis system
Est. yearly production 10,527 kWh
Est. monthly savings $114
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 5.91 tons a year
Equivalent to planting 271 trees a year
Equivalent to driving 14,624 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,564 a year
Est. Price
$18,872
Savings from a 8kWthis system
Est. yearly production 12,031 kWh
Est. monthly savings $130
Full payback in 11 years
Environmental Impacts
Reduces CO2 emissions by 6.75 tons a year
Equivalent to planting 310 trees a year
Equivalent to driving 16,714 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,760 a year
Est. Price
$21,231
Savings from a 9kWthis system
Est. yearly production 13,535 kWh
Est. monthly savings $142
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 7.36 tons a year
Equivalent to planting 338 trees a year
Equivalent to driving 18,209 mi less a year
El Dorado Solar Panel Installation Incentives & Rebates | 2024
The financial burden of installing photovoltaic or wind turbines for rural agricultural enterprises and small businesses could be eased with the REAP Grant, covering 80% to 100% of the costs. If you think you might be eligible, try our REAP Grant eligibility tool to check your qualification.
Almost all residents are eligible for the 30% federal income tax credit for residential solar, which makes it a viable option in various states in the country. State and local governments offer various programs to promote the switch to solar energy.
A total of 4 solar incentive and rebate programs are available in Arkansas from various utilities and government organizations.
Solar incentives in ARIncentive Description Value
Sustainable Building Design Revolving Loan Fund
Value:Varies
The ABA Revolving Loan Fund is an interest-free loan program adopted by Arkansas in 2009 (as loan payments go to the fund, the fund may continue indefinitely). It provides a way for state agencies, boards, and commissions (including those attached to institutions of higher learning) who own their own facilities to make renovations up to $25,000. It is funded by a grant from the American Recovery and Reinvestment Act of 2009 with contributions from the state general improvement funds. The loan encourages debtors to use the funds for ways to save and create energy for their buildings. For further information, check out the Arkansas Building Authority site.
Green Building Standards for State Facilities
Value:Varies
As of July 1, 2005, all state agencies are encouraged to use the Leadership in Energy and Environmental Design and Green Globes rating system as much as possible. They receive additional credit for use of agri-fiber and composite wood products, post-consumer recycled content, and other environment-friendly products. The Sustainable Energy-Efficient Building Program directed the Arkansas Energy Office to reduce energy use in all state-owned major facilities by 30% by 2017 and conserve all utilities to reduce total energy consumption as justified by a life cycle cost analysis. Other state agencies have been encouraged to develop their own strategic energy plans.
Net Metering
Value:Varies
In April 2001, the Arkansas Public Service Commission was directed to establish rules for net metering of some renewable energy systems. By 2012 they amended those rules to exempt government entities and agencies from indemnity agreements. In 2013 it would add new net-metering tariffs for all utilities under its jurisdiction and in 2014 it would modify provisions for excess generation, including increasing the cap for non-residential customers and opening the docket for appropriate fees and terms. Of special note is that customers with multiple meters who generate excess electricity may, with 30 days' notice, use the funds generated for any meter within the same utility.
Solar Hot Water Contractor Licensing
Value:Varies
Arkansas offers limited specialty solar thermal installer licenses with assistance from the Arkansas Department of Health. These licenses are the Restricted Solar Mechanic, Supervising Solar Mechanic, and Solar Mechanic Trainee. The Restricted Solar Mechanic license only allows a mechanic to install systems used to heat domestic hot water; the person must show evidence of relevant training and experience, including four years with a Restricted Solar Mechanic Trainee license. The Supervising Solar Mechanic is allowed to supervise, install, and maintain solar and hydronic domestic hot water systems; applicants must have at least one year with a Restricted Solar Mechanic and five years of solar mechanic experience.
Are solar panels worth it in Arkansas?
For homeowners in El Dorado expecting to remain in their homes after the payback period for solar panels, solar energy is a sensible choice. A 5 kW system in El Dorado, AR will help you save the average homeowner, on average, $22,258.6 over a 20 period and the average break even point is 7 years.
The cost of not having solar panels in El Dorado, AR
Apart from the savings noted earlier, failing to install solar panels or an alternative energy backup leads to you being wholly dependent on your electric utility for power supply. Total dependence on your utility provider isn't always ideal, as recent examples in the news have demonstrated.
In recent times, the average number of utility outages per customer annually in El Dorado has been about 1.94. Typically, outages have an average duration of 346.11 minutes. However, during significant events such as wildfires, overloaded power grids, or wildlife damage, these times can drastically increase.
A solar panel system could lessen the inconvenience of future outages, even if it doesn't have a backup battery.
Power Outages
Currently, 0 customers are being tracked in Union County.
What impacts the cost of solar panels in El Dorado, AR?
Your Energy Needs - The price per watt reduces with larger solar panel systems, even though the upfront cost is higher. Setting up a solar system that produces sufficient electricity to offset their electric bill is advantageous to most homeowners, resulting in savings.
Make & Model - Like many other products, there are various makes and models of solar panels available. It's crucial to pick a highly rated contractor, considering the brand preferences that installers may have. Superior quality materials generally lead to a more favorable long-term experience for buyers.
Solar Panel Type - Monocrystalline panels are widely recognized as the industry standard, and deservedly so. Despite the higher price tag, these panels produce greater energy output. Many installation experts use panels constructed from this material.
Your Property - Each property and home presents unique challenges. Trees, sloped land, or other impediments may complicate the installation process. Nowadays, the most solar installers can assess your home with satellite images and incorporate these factors in the preliminary cost estimate.
Labor Rates - The pay that various companies offer their employees differ, and these expenses are passed on to the consumers. Paying higher wages frequently results in businesses receiving better reviews for their work and customer service.
Permitting & Interconnection - Local permitting and utility interconnection fees, which differ by area, will affect your installation cost. That said, quality local installers will be able to incorporate these numbers into your initial quotes so there are no surprises.
Expertise in consulting on advantageous financing for solar.
El Dorado, AR Solar Panel Cost FAQs
During October, 2024, the average price for solar panel installations in El Dorado, AR is $3.37/W. Post federal tax credit, a 5 kW solar panel system installation in El Dorado, AR will roughly cost $11,795.
Various utility providers and government organizations in Arkansas are offering 4 rebates and incentives at this time. In addition, nearly all people are eligible for the 30%federal tax credit.
Even though paying cash offers the most savings, there are now numerous financing options for solar panels that also are cost-effective. Information about financing options is typically included in initial quotes provided by installers.
Yes, solar panels systems of 5 kW in El Dorado, AR typically have a payback period of 7years, with expected savings on electricity costs of $22,258.6 over 20 years.
Savings from 
Environmental Impacts 
