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
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
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.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary depending on multiple factors, such as what size system you need, your energy usage and what company you go with.Even with the significant upfront cost, the average Canton homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar installer in Canton for a quote for your home.
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
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be time-consuming. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Canton
Factors that Affect Solar Panel Costs in Canton
There are many factors that can play into 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 panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $3,140 per kilowatt in Canton.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Canton, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Canton homeowners decide to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Canton, you’ll have many options to choose from, but each comes at different price points for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
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 such as the model 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 option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.