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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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 typically cost around 3.To cover the typical energy needs of the average home in Gibson, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $20,489, or $29,299 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and your own solar costs will most likely look different based on your specific situation and what company you want to go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
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
Trying to install solar panels by yourself can be a dangerous project, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for you.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
For many Gibson homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Gibson, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your household, 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 nearly $3,490. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Gibson homeowners decide to finance their solar panel systems to make paying for solar more affordable.Although solar loans make going solar more accessible for Gibson 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
A final consideration when trying to estimate the cost of solar for your home or business in Gibson is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 solar panel company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: If you’re worried about the longevity of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
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
How much does it cost to install solar panels in Gibson?
The average cost of solar panels in Gibson 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 type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Gibson?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. 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?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.