Solar array wire sizing for submersible pump

I have a Grundfos SQ Flex 25-7 submersible pump that is rated 30-300 VDC.  Also I have eight 100 watt panels (5.56 amps & 18 volts) I intend to wire in series to power the pump at a depth of 150'.  My preferred location for the solar array is approximately 120 feet from the water well. I am confused as to how to determine the appropriate wiring size with an voltage loss of 3% or less.  May calculations indicate with a distance of approximately 270' the wire size will be #4 AWG.  Is this correct? 
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