Solar Panel Cost Guide in Byram, MS (2023 Update)
- Byram Solar Installation Cost: $15,365
- 25-Year Savings: $21,090
- Payback Period: 10.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Byram
Find out how much it might cost to switch to solar power in Byram.
In Byram, solar panels cost about 2.64 per watt on average. Using this figure, a typical 8.3-kW system would cost about $15,357 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Byram based on a few factors, such as the brand of solar panels you choose and the solar company you hire. With average savings of about $17,000 on energy bills over 20 years, many homeowners in Byram find investing in solar can pay off big.
Click the button below to get connected to a reputable solar installer in your area for a custom quote.
Solar savings over time in Byram
| Year | Return on Investment |
|---|---|
| 1 years | $-13,998 |
| 3 years | $-11,263 |
| 5 years | $-8,528 |
| 7 years | $-5,793 |
| 9 years | $-3,058 |
| 11 years | $-323 |
| 13 years | $2,412 |
| 15 years | $5,146 |
| 17 years | $7,881 |
| 19 years | $10,616 |
| 21 years | $13,351 |
| 23 years | $16,086 |
| 25 years | $18,821 |
Top Solar Installers in Byram
Many homeowners opt for a solar panel company since installing solar panels yourself can be a labor-intensive endeavor. The expertise that solar companies provide can be helpful as well, particularly if you don't quite know what type of solar equipment you need.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers near you:
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 Byram
Factors that Affect Solar Panel Costs in Byram
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Byram: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,640 per kilowatt in Byram. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Byram offer solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also increases your all-in costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Byram, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.75 | $11,532 | $14,776 | 11.0 years |
| 8 kW | $2.69 | $15,080 | $19,997 | 10.7 years |
| 10 kW | $2.64 | $18,480 | $25,365 | 10.5 years |
| 12 kW | $2.59 | $21,732 | $30,882 | 10.3 years |
| 14 kW | $2.53 | $24,837 | $36,547 | 10.1 years |
| 16 kW | $2.48 | $27,794 | $42,359 | 9.9 years |
| 18 kW | $2.43 | $30,603 | $48,319 | 9.7 years |
| 20 kW | $2.38 | $33,264 | $54,427 | 9.5 years |
How to Save on Solar Panels
There are numerous companies available in Byram, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Byram, MS Solar Cost FAQs
How much does it cost to install solar panels in Byram?
The average cost of solar panels in Byram is about $13,200 for a 5-kW system and $26,400 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't opt 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 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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.