Solar Panel Cost Guide in Gulf Park Estates, MS (2023 Update)
- Gulf Park Estates Solar Installation Cost: $14,876
- 25-Year Savings: $29,528
- Payback Period: 8.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Gulf Park Estates
See how much it might cost to go solar in Gulf Park Estates.
The national average cost of solar panels is $2.66 per watt, but in Gulf Park Estates it's 2.64 per watt. To cover the typical energy usage of the average home in Gulf Park Estates, most homeowners require a 8.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,876, or $21,273 before the federal solar tax credit of 30% is applied.
The true price you pay can go above or below the average in Gulf Park Estates depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $21,000 over 20 years on electricity bills.
To get a free estimate from a highly rated solar installer in Gulf Park Estates, you can click the button below.
Solar savings over time in Gulf Park Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-13,100 |
| 3 years | $-9,548 |
| 5 years | $-5,996 |
| 7 years | $-2,443 |
| 9 years | $1,109 |
| 11 years | $4,661 |
| 13 years | $8,214 |
| 15 years | $11,766 |
| 17 years | $15,318 |
| 19 years | $18,871 |
| 21 years | $22,423 |
| 23 years | $25,976 |
| 25 years | $29,528 |
Top Solar Installers in Gulf Park Estates
Although it's possible to install solar panels on your own, it requires extra energy and know-how. For that reason, most people choose a solar panel installer. The expertise that solar installers provide can be invaluable as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Gulf Park Estates
Factors that Affect Solar Panel Costs in Gulf Park Estates
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Gulf Park Estates: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 around $2,640 per kilowatt in Gulf Park Estates. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Gulf Park Estates average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Gulf Park Estates, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your total costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount 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 | $2.75 | $11,532 | $21,551 | 8.7 years |
| 8 kW | $2.69 | $15,080 | $29,031 | 8.5 years |
| 10 kW | $2.64 | $18,480 | $36,658 | 8.4 years |
| 12 kW | $2.59 | $21,732 | $44,433 | 8.2 years |
| 14 kW | $2.53 | $24,837 | $52,356 | 8.0 years |
| 16 kW | $2.48 | $27,794 | $60,427 | 7.9 years |
| 18 kW | $2.43 | $30,603 | $68,645 | 7.7 years |
| 20 kW | $2.38 | $33,264 | $77,012 | 7.5 years |
How to Save on Solar Panels
There are numerous companies available in Gulf Park Estates, 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:
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project timeline.
- Contract: Although reading through a contract can be tedious, 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.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Gulf Park Estates, MS Solar Cost FAQs
What is the average cost of installing solar panels in Gulf Park Estates?
This is a tough question to answer precisely, because the cost depends on many 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Gulf Park Estates?
Leasing solar panels can be an appealing 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels significantly reduce my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Gulf Park Estates, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Gulf Park Estates?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.