Solar Panel Cost Guide in Beechwood, MS (2024 Update)
- Beechwood Solar Installation Cost: $18,207
- 25-Year Savings: $24,369
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Beechwood
Find out what the average cost of solar panels are in Beechwood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Beechwood, the typical cost of a solar system is 3 per watt.To account for the typical energy usage of the average home in Beechwood, most homeowners require a 8.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,207, or $26,036 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Beechwood homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $18,000 on power bills over 20 years, many homeowners in Beechwood find going solar can pay off big.
To receive a free quote from a top solar installer in Beechwood, you can click the button below.
Solar savings over time in Beechwood
| Year | Return on Investment |
|---|---|
| 1 years | $-16,840 |
| 3 years | $-14,105 |
| 5 years | $-11,370 |
| 7 years | $-8,635 |
| 9 years | $-5,900 |
| 11 years | $-3,166 |
| 13 years | $-431 |
| 15 years | $2,304 |
| 17 years | $5,039 |
| 19 years | $7,774 |
| 21 years | $10,509 |
| 23 years | $13,244 |
| 25 years | $15,979 |
Top Solar Installers in Beechwood
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make switching to solar power much easier. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for your home.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Beechwood:
See all of the solar companies in Beechwood
Factors that Affect Solar Panel Costs in Beechwood
Though the average cost of a solar system in Beechwood is $18,207, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Beechwood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,140 for each additional kilowatt you need.The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Beechwood, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.Although solar loans make switching to solar energy more accessible for Beechwood 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 put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect your pricing. Beechwood’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.27 | $13,716 | $15,023 | 11.9 years |
| 8 kW | $3.20 | $17,936 | $20,383 | 11.7 years |
| 10 kW | $3.14 | $21,980 | $25,918 | 11.5 years |
| 12 kW | $3.08 | $25,848 | $31,629 | 11.2 years |
| 14 kW | $3.01 | $29,541 | $37,516 | 11.0 years |
| 16 kW | $2.95 | $33,058 | $43,579 | 10.8 years |
| 18 kW | $2.89 | $36,399 | $49,818 | 10.6 years |
| 20 kW | $2.83 | $39,564 | $56,232 | 10.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
EcoWatch's Beechwood, MS Solar Cost FAQs
What is the average cost of installing solar panels in Beechwood?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $15,700 for a 5-kW system and $31,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Beechwood?
You can’t get solar panels for free in Beechwood. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Beechwood?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 level 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.