Solar Panel Cost Guide in Gibson, AR (2024 Update)
- Gibson Solar Installation Cost: $20,489
- 25-Year Savings: $23,020
- Payback Period: 13.5 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Gibson
Find out what the average cost of installing solar panels is in Gibson.
Although the national average of solar panels is $2.66 per watt, solar panels in Gibson generally cost around 3.Because a 8.4-kW system is needed to cover the energy needs of a typical home in Gibson, the average price of going solar will be about $20,489 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary depending on several factors, such as how many panels you need, your energy usage and what installation company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Gibson see about $17,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a custom estimate.
Solar savings over time in Gibson
Year | Return on Investment |
---|---|
1 years | $-19,033 |
3 years | $-16,121 |
5 years | $-13,209 |
7 years | $-10,297 |
9 years | $-7,385 |
11 years | $-4,473 |
13 years | $-1,561 |
15 years | $1,351 |
17 years | $4,264 |
19 years | $7,176 |
21 years | $10,088 |
23 years | $13,000 |
25 years | $15,912 |
Top Solar Installers in Gibson
When going solar, many homeowners opt to hire a solar installer since installing solar panels yourself can be a time-consuming project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are various licensed solar professionals that can take care of your solar installation project. 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 Gibson
Factors that Affect Solar Panel Costs in Gibson
There are several factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,490. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Gibson, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Gibson, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Gibson know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $11,892 | 14.0 years |
8 kW | $3.56 | $19,935 | $16,246 | 13.8 years |
10 kW | $3.49 | $24,430 | $20,796 | 13.5 years |
12 kW | $3.42 | $28,730 | $25,542 | 13.2 years |
14 kW | $3.35 | $32,834 | $30,483 | 13.0 years |
16 kW | $3.28 | $36,743 | $35,620 | 12.7 years |
18 kW | $3.21 | $40,456 | $40,952 | 12.4 years |
20 kW | $3.14 | $43,974 | $46,479 | 12.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: If you care about the durability of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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 go with.
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 Gibson, AR Solar Cost FAQs
What is the average cost of installing solar panels in Gibson?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Gibson?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $904.53 per year.
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 level 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.