Solar Panel Cost Guide in Florence, MS (Mar 2023)
- Florence Solar Installation Cost: $15,449
- 25-Year Savings: $23,107
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Florence
Find out what the average cost of solar panels are in Florence.
The national average cost of solar panels is $2.66 per watt, but in Florence it's 2.64 per watt. The average solar panel system size in Florence is around 8.4 kilowatts, meaning a cost of about $15,449 for a solar installation, or $22,092 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely differ based on factors unique to your home and what company you choose to go with. With typical savings of about $18,000 on power bills over 20 years, many homeowners in Florence find going solar can pay off big.
To receive a free estimate from a highly rated solar installer in Florence, you can click the button below.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-13,907 |
| 3 years | $-10,823 |
| 5 years | $-7,738 |
| 7 years | $-4,654 |
| 9 years | $-1,569 |
| 11 years | $1,515 |
| 13 years | $4,600 |
| 15 years | $7,684 |
| 17 years | $10,769 |
| 19 years | $13,853 |
| 21 years | $16,938 |
| 23 years | $20,022 |
| 25 years | $23,107 |
Top Solar Installers in Florence
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make your switch to solar power much easier. Plus, if you aren't sure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Florence
Factors that Affect Solar Panel Costs in Florence
For many Florence homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Florence, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 uses, the larger your system will likely need to be. You can expect to pay about $2,640 per kilowatt in Florence. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Florence, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Florence, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Florence, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $16,154 | 10.4 years |
| 8 kW | $2.69 | $15,080 | $21,835 | 10.2 years |
| 10 kW | $2.64 | $18,480 | $27,663 | 10.0 years |
| 12 kW | $2.59 | $21,732 | $33,639 | 9.8 years |
| 14 kW | $2.53 | $24,837 | $39,763 | 9.6 years |
| 16 kW | $2.48 | $27,794 | $46,035 | 9.4 years |
| 18 kW | $2.43 | $30,603 | $52,454 | 9.2 years |
| 20 kW | $2.38 | $33,264 | $59,022 | 9.0 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
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 Florence, MS Solar Cost FAQs
What is the average cost of installing solar panels in Florence?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,200 for a 5-kW system and $26,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Florence have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy 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, solar panels can last 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 higher 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.