Solar Panel Cost Guide in Gibsonville, NC (2024 Update)

  • Gibsonville Solar Installation Cost: $17,117
  • 25-Year Savings: $19,950
  • Payback Period: 13.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Gibsonville

We go over average solar pricing in Gibsonville.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Gibsonville, the average cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in Gibsonville, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,117, or $24,477 before the federal solar tax credit of 0 is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Gibsonville homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.

For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Gibsonville

Year Return on Investment
1 years $-15,795
3 years $-13,150
5 years $-10,506
7 years $-7,862
9 years $-5,218
11 years $-2,573
13 years $71
15 years $2,715
17 years $5,359
19 years $8,004
21 years $10,648
23 years $13,292
25 years $15,936

Top Solar Installers in Gibsonville

Installing solar panels by yourself can be a difficult undertaking, which is why getting a solar installation company is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.

Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Gibsonville

Factors that Affect Solar Panel Costs in Gibsonville

There are several factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

When it comes to estimating the price of a solar energy system in Gibsonville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,510 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Gibsonville to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.However, the interest on solar loans also adds to your all-in costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Gibsonville is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.65 $15,332 $12,519 13.8 years
8 kW $3.58 $20,049 $17,084 13.5 years
10 kW $3.51 $24,570 $21,847 13.2 years
12 kW $3.44 $28,894 $26,806 13.0 years
14 kW $3.37 $33,022 $31,962 12.7 years
16 kW $3.30 $36,953 $37,314 12.4 years
18 kW $3.23 $40,688 $42,863 12.2 years
20 kW $3.16 $44,226 $48,608 11.9 years

How to Save on Solar Panels

The solar company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:

  • Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • 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 large role in the company you choose.
  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Gibsonville, NC Solar Cost FAQs

What is the average cost of installing solar panels in Gibsonville?

The average cost of solar panels in Gibsonville is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Gibsonville?

Leasing solar panels can be an attractive choice, as it often 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

Do solar panels increase your property value?

Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.

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.

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