Solar Panel Cost Guide in Hernando, MS (2023 Update)
- Hernando Solar Installation Cost: $16,115
- 25-Year Savings: $21,062
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hernando
Find out how much it might cost to make the switch to solar in Hernando.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hernando, the average cost of a solar system is 2.64 per watt. Using this figure, a typical 8.7-kW system would cost about $16,115 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with. Even with the significant upfront cost, the average Hernando homeowner can save about $16,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free quote from a vetted solar company in Hernando, you can click the button below.
Solar savings over time in Hernando
| Year | Return on Investment |
|---|---|
| 1 years | $-14,628 |
| 3 years | $-11,653 |
| 5 years | $-8,679 |
| 7 years | $-5,705 |
| 9 years | $-2,731 |
| 11 years | $243 |
| 13 years | $3,217 |
| 15 years | $6,191 |
| 17 years | $9,165 |
| 19 years | $12,139 |
| 21 years | $15,113 |
| 23 years | $18,088 |
| 25 years | $21,062 |
Top Solar Installers in Hernando
Installing solar panels on your own can be a stressful task, which is why using a solar installer is a good option for many homeowners. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar installer in Hernando, we've compiled a list of our top suggestions here:
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 Hernando
Factors that Affect Solar Panel Costs in Hernando
The cost of installing a solar system in Hernando can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important 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 about $2,640 per kilowatt in Hernando. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Hernando homeowners choose to finance their solar panel systems to make going solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you want and also is within your budget.
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 | $14,061 | 11.3 years |
| 8 kW | $2.69 | $15,080 | $19,043 | 11.0 years |
| 10 kW | $2.64 | $18,480 | $24,173 | 10.8 years |
| 12 kW | $2.59 | $21,732 | $29,452 | 10.6 years |
| 14 kW | $2.53 | $24,837 | $34,878 | 10.4 years |
| 16 kW | $2.48 | $27,794 | $40,452 | 10.2 years |
| 18 kW | $2.43 | $30,603 | $46,173 | 10.0 years |
| 20 kW | $2.38 | $33,264 | $52,043 | 9.7 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: If you care about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Not all solar companies 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 opt for.
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 Hernando, MS Solar Cost FAQs
How much does it cost to install solar panels in Hernando?
This is a hard 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $853.07 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage 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.