Solar Panel Cost Guide in Gibraltar, MI (2023 Update)
- Gibraltar Solar Installation Cost: $12,038
- 25-Year Savings: $13,082
- Payback Period: 12.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gibraltar
We go over average solar pricing in Gibraltar.
Although the national average of solar panels is $2.66 per watt, solar panels in Gibraltar generally cost around 2.81. Since a 6.1-kW system is needed to cover the energy costs of a typical home in Gibraltar, the average price of going solar will be about $12,038 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Gibraltar that can help you get a more accurate cost estimate for your home.
Solar savings over time in Gibraltar
| Year | Return on Investment |
|---|---|
| 1 years | $-11,033 |
| 3 years | $-9,024 |
| 5 years | $-7,014 |
| 7 years | $-5,005 |
| 9 years | $-2,995 |
| 11 years | $-985 |
| 13 years | $1,024 |
| 15 years | $3,034 |
| 17 years | $5,043 |
| 19 years | $7,053 |
| 21 years | $9,063 |
| 23 years | $11,072 |
| 25 years | $13,082 |
Top Solar Installers in Gibraltar
When going solar, many homeowners decide to use a solar company since installing a solar system yourself can be a time-consuming project. Another advantage of using a solar installer is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you're looking for a solar company in Gibraltar, we've put together a list of our top suggestions here:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Gibraltar
Factors that Affect Solar Panel Costs in Gibraltar
The cost of installing a solar system in Gibraltar can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,810 per kilowatt in Gibraltar. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to get 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
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Gibraltar, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. Though solar loans make adopting solar energy more accessible for Gibraltar homeowners, they can also add to 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 avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Gibraltar, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Gibraltar have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2.92 | $12,274 | $12,373 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $16,812 | 12.2 years |
| 10 kW | $2.81 | $19,670 | $21,408 | 12.0 years |
| 12 kW | $2.75 | $23,132 | $26,162 | 11.7 years |
| 14 kW | $2.70 | $26,436 | $31,073 | 11.5 years |
| 16 kW | $2.64 | $29,584 | $36,141 | 11.3 years |
| 18 kW | $2.59 | $32,574 | $41,367 | 11.0 years |
| 20 kW | $2.53 | $35,406 | $46,750 | 10.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Warranty: If you're worried about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Gibraltar, MI Solar Cost FAQs
How much does it cost to install solar panels in Gibraltar?
The average cost of solar panels in Gibraltar is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Gibraltar have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.