Solar Panel Cost Guide in Hernando, MS (2024 Update)
- Hernando Solar Installation Cost: $19,157
- 25-Year Savings: $21,069
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Hernando
We go over average solar pricing 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 3 per watt.The average solar panel system size in Hernando is around 8.7 kilowatts, meaning a cost of about $19,157 for a solar installation, or $27,395 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary depending on several factors, such as what size system you need, your energy consumption and what solar installer you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
Click the button below to get connected to a top solar company in Hernando for a custom quote.
Solar savings over time in Hernando
| Year | Return on Investment |
|---|---|
| 1 years | $-17,790 |
| 3 years | $-15,055 |
| 5 years | $-12,320 |
| 7 years | $-9,585 |
| 9 years | $-6,850 |
| 11 years | $-4,115 |
| 13 years | $-1,381 |
| 15 years | $1,354 |
| 17 years | $4,089 |
| 19 years | $6,824 |
| 21 years | $9,559 |
| 23 years | $12,294 |
| 25 years | $15,029 |
Top Solar Installers in Hernando
Many homeowners choose to use a solar installer since figuring out how to install solar panels on your own can be challenging. Another perk of working with a solar company is that they can help you maximize your ROI by reducing your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,140. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking 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
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Hernando, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Hernando, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Some companies 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 go with the company that provides the products, warranties and services you want and also fit into 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 | $3.27 | $13,716 | $11,877 | 13.4 years |
| 8 kW | $3.20 | $17,936 | $16,187 | 13.1 years |
| 10 kW | $3.14 | $21,980 | $20,673 | 12.9 years |
| 12 kW | $3.08 | $25,848 | $25,336 | 12.6 years |
| 14 kW | $3.01 | $29,541 | $30,174 | 12.4 years |
| 16 kW | $2.95 | $33,058 | $35,188 | 12.1 years |
| 18 kW | $2.89 | $36,399 | $40,377 | 11.9 years |
| 20 kW | $2.83 | $39,564 | $45,743 | 11.6 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the kinds 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, such as:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
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 exactly, because the cost depends on a variety of factors. Broadly 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 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 choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Hernando?
A solar panel system isn’t free in Hernando, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hernando is currently $329,081, so you could be looking at a value of about $13,492 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hernando is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.