Solar Panel Cost Guide in Grenada, MS (2025 Update)
- Grenada Solar Installation Cost: $18,594
- 25-Year Savings: $23,655
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Grenada
See how much it might cost to go solar in Grenada.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grenada, the typical cost of solar panels is 3 per watt.To account for the typical energy usage of the average home in Grenada, most homeowners require a 8.5-kilowatt system. Using the figure above, a solar installation costs around $18,594, or $26,589 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Grenada homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Grenada can save about $18,000 on their electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Grenada
| Year | Return on Investment |
|---|---|
| 1 years | $-17,226 |
| 3 years | $-14,491 |
| 5 years | $-11,756 |
| 7 years | $-9,022 |
| 9 years | $-6,287 |
| 11 years | $-3,552 |
| 13 years | $-817 |
| 15 years | $1,918 |
| 17 years | $4,653 |
| 19 years | $7,388 |
| 21 years | $10,123 |
| 23 years | $12,857 |
| 25 years | $15,592 |
Top Solar Installers in Grenada
Trying to put up solar panels by yourself can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Another great thing about choosing a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar company in Grenada, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Grenada
Factors that Affect Solar Panel Costs in Grenada
The cost of installing a solar system in Grenada can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 spend around $3,140 per kilowatt in Grenada.There are many different solar panel brands and the one you choose also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your overall costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Grenada, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of 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 lower 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 | $3.27 | $13,716 | $14,150 | 12.3 years |
| 8 kW | $3.20 | $17,936 | $19,218 | 12.1 years |
| 10 kW | $3.14 | $21,980 | $24,462 | 11.8 years |
| 12 kW | $3.08 | $25,848 | $29,882 | 11.6 years |
| 14 kW | $3.01 | $29,541 | $35,478 | 11.4 years |
| 16 kW | $2.95 | $33,058 | $41,250 | 11.1 years |
| 18 kW | $2.89 | $36,399 | $47,197 | 10.9 years |
| 20 kW | $2.83 | $39,564 | $53,320 | 10.6 years |
How to Save on Solar Panels
There are a large number of companies available in Grenada, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
EcoWatch's Grenada, MS Solar Cost FAQs
What is the average cost of installing solar panels in Grenada?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $15,700 for a 5-kW system and $31,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Grenada have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated 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 many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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 household 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.