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
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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 typical cost of a solar system is 4 per watt.The average Gibsonville homeowner needs a 7.0-kilowatt system, which would cost about $17,117 with the federal tax credit, or $24,477 before the 0 tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely differ based on factors unique to your home and what company you want to go with.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Gibsonville that can help you get a more accurate cost estimate for your home.
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
Many homeowners decide to hire a solar panel installer since figuring out how to install solar panels by yourself can be challenging. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're searching for a solar company in Gibsonville, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
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 Gibsonville
Factors that Affect Solar Panel Costs in Gibsonville
Although the average cost of a solar system in Gibsonville is $17,117, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,510.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, 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
Many homeowners find the average cost of solar in Gibsonville to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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
Since the type of solar panels and the installation company you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
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 Gibsonville, NC Solar Cost FAQs
How much does it cost to install solar panels in Gibsonville?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 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 higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Gibsonville?
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 bang for your buck from going solar.
How will solar panels impact the value of my home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose 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."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.