Solar Panel Cost Guide in Gibson, AR (2023 Update)
- Gibson Solar Installation Cost: $14,912
- 25-Year Savings: $23,020
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gibson
Find out what the average cost of solar panel installation is in Gibson.
In Gibson, solar panels cost about 2.54 per watt on average. To account for the typical energy usage of the average home in Gibson, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,917, or $21,331 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. Despite the significant upfront cost, the average Gibson homeowner can save about $17,000 on their power bills over 20 years, which is one of the advantages of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Gibson
| Year | Return on Investment |
|---|---|
| 1 years | $-13,456 |
| 3 years | $-10,544 |
| 5 years | $-7,632 |
| 7 years | $-4,720 |
| 9 years | $-1,808 |
| 11 years | $1,105 |
| 13 years | $4,017 |
| 15 years | $6,929 |
| 17 years | $9,841 |
| 19 years | $12,753 |
| 21 years | $15,665 |
| 23 years | $18,577 |
| 25 years | $21,489 |
Top Solar Installers in Gibson
When making the switch to solar, many homeowners opt to go with a solar installer since putting up solar panels yourself can be a time-consuming project. Also, if you'd like to maximize your investment in solar, going with a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers nearby:
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 adopt solar energy comes down to 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 various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Gibson. There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Gibson, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your all-in costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Gibson are more knowledgeable about local solar incentives and can help you make good use of 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 end up saving you 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 | $2.64 | $11,095 | $16,041 | 10.2 years |
| 8 kW | $2.59 | $14,508 | $21,673 | 10.0 years |
| 10 kW | $2.54 | $17,780 | $27,446 | 9.8 years |
| 12 kW | $2.49 | $20,909 | $33,362 | 9.6 years |
| 14 kW | $2.44 | $23,896 | $39,421 | 9.4 years |
| 16 kW | $2.39 | $26,741 | $45,621 | 9.2 years |
| 18 kW | $2.34 | $29,444 | $51,964 | 9.0 years |
| 20 kW | $2.29 | $32,004 | $58,449 | 8.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Gibson, that will require at least a 10-kW system. Not all homes will have the roof space for 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.