Solar Panel Cost Guide in Canton, MS (2024 Update)
- Canton Solar Installation Cost: $18,350
- 25-Year Savings: $23,685
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Canton
We go over average solar pricing in Canton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Canton, the average cost of solar panels is 3 per watt.The average Canton homeowner needs a 8.3-kilowatt system, which would cost about $18,350 with the federal tax credit, or $26,240 before the 0 tax credit is applied.
How much you pay can go above or below the average in Canton based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Canton see about $18,000 in savings on electricity bills over 20 years.
To get a free estimate from a top solar company in Canton, you can click the button below.
Solar savings over time in Canton
| Year | Return on Investment |
|---|---|
| 1 years | $-16,982 |
| 3 years | $-14,248 |
| 5 years | $-11,513 |
| 7 years | $-8,778 |
| 9 years | $-6,043 |
| 11 years | $-3,308 |
| 13 years | $-573 |
| 15 years | $2,162 |
| 17 years | $4,897 |
| 19 years | $7,632 |
| 21 years | $10,366 |
| 23 years | $13,101 |
| 25 years | $15,836 |
Top Solar Installers in Canton
Trying to install solar panels yourself can be a dangerous task, which is why using a solar installer is a good option for many homeowners. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Canton
Factors that Affect Solar Panel Costs in Canton
There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,140.The type of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s wise to add 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
Lastly, the company you get to install your solar panel system can influence how much you pay. Canton’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due 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 discount can bring their pricing down to compete with bigger names.
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 | $14,395 | 12.2 years |
| 8 kW | $3.20 | $17,936 | $19,544 | 12.0 years |
| 10 kW | $3.14 | $21,980 | $24,870 | 11.7 years |
| 12 kW | $3.08 | $25,848 | $30,372 | 11.5 years |
| 14 kW | $3.01 | $29,541 | $36,049 | 11.3 years |
| 16 kW | $2.95 | $33,058 | $41,902 | 11.0 years |
| 18 kW | $2.89 | $36,399 | $47,931 | 10.8 years |
| 20 kW | $2.83 | $39,564 | $54,136 | 10.6 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Canton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Canton, MS Solar Cost FAQs
What is the average cost of installing solar panels in Canton?
The average cost of solar panels in Canton is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Canton?
Leasing solar panels can be an attractive choice, as it typically 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 maximize your savings.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Canton is currently $203,049, so you could be looking at a value of about $8,325 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Canton is a rewarding investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 cover 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.