Solar Panel Cost in Mississippi (2022 Local Savings Guide)
Here’s a quick look at the estimated cost of solar in Mississippi:
- Average Cost Per Watt: $2.64
- Cost of Average System: $22,466*
- Cost of Energy Without Solar: $50,507
- Payback Period: 13 Years**
- Lifetime Savings of Going Solar: $20,147
*Average system size is calculated using data from the Energy Information Administration. This price is after tax credit.
**Payback period is calculated assuming the system is purchased in cash.
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Cost of Solar Panels in Mississippi
The cost of solar panels in Mississippi is around $2.64 per watt, on average, which is just below the national average of $2.66. Most Mississippians require a system that is approximately 11.5 kilowatts to offset their energy costs (average of $128/month).1 This is much larger than the average system size in America. Plugging these figures into our solar calculator, the standard cost of solar panels in Mississippi is $30,360 before the 26% federal tax credit, or $22,466 after.
Solar Panel System Installation Cost in Mississippi
The size of the system you require is almost always the primary cost factor when pricing your solar energy system. For each kilowatt you need to add on to cover your energy needs, your total will increase by an average of $2,640. The average system size in Mississippi is 11.5 kilowatts, but the table below provides some estimated pricing for other common system capacities in the state.
|Size of Solar Panel System||Solar Panel Cost||Cost After Federal Tax Credit|
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What Determines the Cost of Solar Panels in Mississippi?
As you can see above, the size of your solar panel system is the most significant cost factor. Based on our market research and data from the top brands, the cost of going solar in Mississippi is roughly $2.64 per watt, which is slightly cheaper than the national average of $2.66.
However, Mississippi households tend to consume much more energy than the average American — about 1,146 kWh per month compared to the U.S. average of 893 kWh per month — and therefore Mississippi homeowners will need to invest in a bigger solar panel system to power their homes.
We’ve already discussed how the size of solar panel systems and cost correlate, so below you’ll find a few other cost factors to consider before purchasing a solar panel system for your home.
The Magnolia State sees 216 days of sunshine in an average year, making it sunnier than the average and therefore a great place to go solar. This means that you may be able to spend less on solar equipment.
As long as your home is well suited for solar panels (lots of direct sunlight, not a lot of shade), you likely won’t need to invest in the newest models from the highest-quality solar brands — like SunPower or REC — to have a sufficient solar panel system.
Of course, Mississippi is prone to severe weather like tornadoes and hurricanes. While rain can be beneficial for keeping solar panels free of debris, many Magnolia State residents choose to invest in solar batteries to ensure the lights stay on in the event of a power outage.
It’s also worth the extra expense to invest in solar panels with comprehensive warranties that may cover storm damage.
Solar Financing in Mississippi
Solar financing is a great option for many Mississippi homeowners who struggle to rationalize spending the average price of $22,466 in cash for a solar panel system. A solar loan can reduce your upfront payment to just a few hundred dollars — or nothing at all with a no-money-down option — and it allows you to spread out your payment over several years.
Unfortunately, Mississippi doesn’t offer much assistance at the state level, although there are some favorable rebates and incentives that can lower the cost of qualifying systems. Here are some other regional and national loan programs for residents looking to go solar:
- Mosaic Loan: Offers several different loan structures to cover the upfront costs of renewable energy systems.
- Synchrony Financial: Offers a variety of financing plans for renewable energy systems, including zero-down with no interest. (Partnered with Mississippi Solar LLC.)
- USDA REAP: The United States Department of Agriculture (USDA) has a Rural Energy for America Program (REAP) that extends to Mississippi agricultural producers. If more than 50% of your gross annual income comes from agriculture, you may qualify for a grant of up to 25% of your total system cost or a loan to cover up to 75%.
Several Mississippi cities and municipalities offer energy-efficiency rebate programs that can help lower the cost of your solar panel system. Be sure to ask your solar installer about what options are available to you.
Mississippi Solar Installation Company
There aren’t a lot of solar companies based in Mississippi, but there are many in neighboring states with service areas that extend into Mississippi. This creates a lot of variance in quality and price, and each one would likely provide you with a very different quote for the installation.
Bigger national companies will typically offer more expensive equipment but will charge less for labor, while the opposite tends to be true for smaller, local companies.
We’ve vetted the top four solar companies in Mississippi — SunPower, Mississippi Solar LLC, Solar Alternatives and ADT Solar (formerly Sunpro) — and found they’re all reputable with different pros and cons.
SunPower will likely charge the most for solar panel installation because they only offer Maxeon products, which are highly efficient. On the other hand, Mississippi Solar LLC carries more affordable brands and may offer more flexibility when it comes to financing options.
We always recommend getting multiple solar installation quotes to find the best solar installer for your budget.
Additional Considerations and Costs in Mississippi
While the factors detailed above will play the biggest role in the cost of your solar installation in Mississippi, there are other considerations homeowners should be aware of before making the switch to clean energy.
- Permits: A national study found that local permitting can raise the cost of residential solar by 15 to 20%.2 In Mississippi, permit requirements for solar panel installations vary based on where you live. For example, Stone County requires a building permit (fees based on the price of installation) and an electrical permit ($50 minimum fee).3 You or your solar installer will need to contact your local building and electrical code offices for an exact price.
- Licenses: As of 2022, Mississippi does not have any dedicated solar licensing requirements unless the project exceeds $50,000, which is unlikely for most residential solar installations.
- Warranties: Most solar panel systems come with a warranty, which is important, considering you’ll be spending thousands on your system. Typically, longer and more comprehensive warranties — like the one from ADT — are better, although better warranty coverage tends to mean higher upfront costs.
- HOAs: Mississippi House Bill 1381 states that homeowners associations (HOAs) are not allowed to prohibit the installation of an energy efficiency measure, which includes “outdoor lighting devices” such as a “solar recharging panel.”4 The wording is a little vague so it’s not clear if this protects rooftop solar panel systems for the home or only solar powered outdoor lights. If you have one, it’s best to check with your HOA before installing solar panels.
- Environmental zoning: Mississippi’s zoning laws vary by county and will determine what you’re allowed to do on your property. It’s legal in most rural places to have an off-grid electricity system in Mississippi, but we’d encourage you to check with your installer to see if your renewable energy system will need to be interconnected.5 But again, with no statewide standards, you’ll need to reach out to local officials for zoning guidance.
Mississippi Solar Incentives
Both the federal government and the state government in Mississippi provide incentives to promote solar conversions and make renewable energy more accessible to everyone. According to the Solar Energy Industries Association (SEIA), Mississippi ranks 36th in the nation for the most solar-friendly states.6 While state incentives are limited as solar power in Mississippi gains popularity, they can still help you save money on your system.
|Mississippi Solar Incentive||How it Affects the Cost of Solar Panels in Mississippi|
|Mississippi Clean Energy Initiative||This program is a tax incentive for solar manufacturers, but the savings can often result in a lower cost of going solar for homeowners. Companies that qualify have a 100% tax exemption on income, franchise taxes, and sales and use tax for 10 years. This can create opportunities for homeowners to enjoy lower costs of going solar overall, and it promotes conversions throughout Mississippi.|
|Net Metering||Net metering is a policy that lets energy flow back and forth between your PV system and the grid, depending on whether your system is under- or over-producing. You’ll end up paying for energy pulled from the grid, less any excess energy sent to the grid. |
All investor-owned electric utilities in Mississippi offer net metering, but a large portion of the state is covered by cooperatives. Electric co-ops in Mississippi will all have different policies, so it’s best to check with your local utility company before committing. The state of Mississippi does not have any statewide net metering standards, so you’ll need to check your provider’s interconnection and net metering rules.
|Local Solar Rebates & Incentives||Unfortunately, Mississippi residents don’t have access to statewide solar rebates or incentives. However, your local utility company or local government might offer energy efficiency rebates to help you save some money. You can check the DSIRE database for more information on what’s available in your area.|
|Federal Solar Tax Credit||The federal solar investment tax credit (ITC) is a credit on your federal income taxes in the amount of 26% of your total photovoltaic system cost. In Mississippi, where the average system costs $30,360, that’s a typical credit of $7,894.|
The Best Solar Panel Brands Available in Mississippi
As discussed, the brand you choose for your solar panels can significantly impact your total system cost. Typically, high-quality panels with better warranties cost more on a per-watt basis compared to lower-efficiency brands with less coverage.
Below you’ll find relative pricing for the top solar panel brands in Mississippi to give you an idea of which brands may best fit your budget.
|Solar Panel Brand||Average Cost Per Watt ($-$$$$$)|
If you’re ready to see how much solar panels would cost for your Mississippi home, select one of our preferred providers below to get connected with vetted solar installers. You may receive a free, no-obligation quote based specifically on your household’s energy needs within minutes.
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FAQs: Solar Panel Cost Mississippi
The EcoWatch team is thrilled to get questions regularly from Mississippi residents looking to go solar. To help guide you through the process, we’ve included some of the most frequently asked questions below, along with our responses. If you have specific questions that aren’t answered here, reach out to our team of solar experts at firstname.lastname@example.org.
The average home in Mississippi requires an 11.5-kilowatt system to offset energy consumption, which is quite high throughout the state. At an average price of $2.64 per watt, that comes out to a standard price of $30,360 before the federal tax incentive, or $22,466 after the incentive is accounted for.
However, your total could be thousands of dollars lower or higher depending on many factors. Your best option is to have a reputable solar installer assess your home and provide a customized quote based on your energy needs and expectations.
Yes! Solar panels boost property value in Mississippi quite significantly. Estimates based on data from Zillow suggest that the average home increases in value by approximately 4.1%.9 In Mississippi, where the average home value is $157,885 at the time of publication, that’s a typical bump of around $6,437.10
It’s important to note that this benefit is only expected if you purchase or finance your solar equipment. Solar leases and power purchase agreements (PPAs) will not provide the same bump in value.
In almost every situation, it is better to use cash or solar financing to acquire your solar panels than to lease them. Leases are useful in some cases when homeowners cannot afford a cash purchase and are denied financing options, but they are far less beneficial overall.
First, solar leases don’t increase your property value, so you’ll miss out on an average of $6,437 in home value if you lease. You also can’t claim the federal tax credit if you lease, which is another $7,894 in Mississippi that you’ll be passing up. Solar leases also don’t have a payback period — you’ll be paying monthly for your system until your lease ends. On the other hand, a purchased system will be paid off and can start saving you money after an average of 13 years in Mississippi. (The average lifespan of a solar system is 25-30 years.)
Yes, it is possible to eliminate your electric bills by converting to solar. However, it’s much more challenging to do so in Mississippi than in most other areas throughout the country because of the state’s less-than-ideal stance on net metering. Most homeowners in MS will also need to invest in a solar battery to maximize savings and bring their utility bills down to $0 per month.
Every homeowner will naturally be concerned with the total cost of going solar, but the majority of Mississippians agree that panel efficiency is more crucial. Due to the lack of a statewide net metering program, highly efficient panels can improve your chances of eliminating your electricity costs in Mississippi. As such, most residents prefer to pay more upfront for high-quality equipment that will save them more over time.