Solar Panel Cost Guide in Hernando, MS (2023 Update)
- Hernando Solar Installation Cost: $16,107
- 25-Year Savings: $21,069
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hernando
Find out what the average cost of installing solar panels is in Hernando.
In Hernando, solar panels cost about 2.64 per watt on average. The average solar panel system size in Hernando is around 8.7 kilowatts, meaning a cost of about $16,115 for a solar installation, or $23,044 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with. Even with the high upfront cost, the average Hernando homeowner can save about $16,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar installer in Hernando for a custom quote.
Solar savings over time in Hernando
| Year | Return on Investment |
|---|---|
| 1 years | $-15,983 |
| 3 years | $-15,735 |
| 5 years | $-15,487 |
| 7 years | $-15,239 |
| 9 years | $-14,992 |
| 11 years | $-14,744 |
| 13 years | $-14,496 |
| 15 years | $-14,248 |
| 17 years | $-14,000 |
| 19 years | $-13,752 |
| 21 years | $-13,504 |
| 23 years | $-13,257 |
| 25 years | $-13,009 |
Top Solar Installers in Hernando
Installing solar panels on your own can be a time-consuming task, which is why using a solar installation company is a good option for many homeowners. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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
Although the average cost of a solar system in Hernando is $16,115, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Hernando to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Hernando is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that provide a range of services at different costs. Additionally, some companies in Hernando are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy 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.
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
What is the average cost of installing solar panels in Hernando?
The average cost of solar panels in Hernando is about $13,200 for a 5-kW system and $26,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Hernando?
Solar panels aren't free in Hernando, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Hernando?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Hernando?
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 replace them once you've had 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.