Solar Panel Cost Guide in Carthage, MS (Mar 2023)
- Carthage Solar Installation Cost: $15,523
- 25-Year Savings: $24,734
- Payback Period: 9.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Carthage
We go over average solar pricing in Carthage.
While the national average of solar panels is $2.66 per watt, solar panels in Carthage typically cost around 2.64. To account for the typical energy needs of the average home in Carthage, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,523, or $22,198 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more. With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Carthage find going solar has a decent ROI.
Click the button below to get connected to a reputable solar installer in your area for a customized estimate.
Solar savings over time in Carthage
| Year | Return on Investment |
|---|---|
| 1 years | $-13,913 |
| 3 years | $-10,692 |
| 5 years | $-7,472 |
| 7 years | $-4,251 |
| 9 years | $-1,031 |
| 11 years | $2,190 |
| 13 years | $5,410 |
| 15 years | $8,631 |
| 17 years | $11,852 |
| 19 years | $15,072 |
| 21 years | $18,293 |
| 23 years | $21,513 |
| 25 years | $24,734 |
Top Solar Installers in Carthage
Trying to put up solar panels by yourself can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Carthage
Factors that Affect Solar Panel Costs in Carthage
Though the average cost of a solar system in Carthage is $15,523, 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 residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond 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 into 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 a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk 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 lower 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 | $2.75 | $11,532 | $17,220 | 10.0 years |
| 8 kW | $2.69 | $15,080 | $23,256 | 9.8 years |
| 10 kW | $2.64 | $18,480 | $29,439 | 9.6 years |
| 12 kW | $2.59 | $21,732 | $35,770 | 9.4 years |
| 14 kW | $2.53 | $24,837 | $42,249 | 9.3 years |
| 16 kW | $2.48 | $27,794 | $48,876 | 9.1 years |
| 18 kW | $2.43 | $30,603 | $55,651 | 8.9 years |
| 20 kW | $2.38 | $33,264 | $62,574 | 8.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- 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.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Carthage, MS Solar Cost FAQs
How much does it cost to install solar panels in Carthage?
The average cost of solar panels in Carthage 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Carthage?
Leasing solar panels can be an attractive choice, as it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How will solar panels impact my property value?
Solar panels can increase your home value considerably 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% after installing solar panels."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 get between 20 and 35 panels to account for 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.