Solar Panel Cost Guide in Horn Lake, MS (2024 Update)
- Horn Lake Solar Installation Cost: $19,157
- 25-Year Savings: $19,459
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Horn Lake
Find out what the average cost of installing solar panels is in Horn Lake.
The average cost of a solar panel system in Horn Lake is 3 per watt.Using this figure, a typical 8.7-kW system would cost about $19,157 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will look different based on your energy needs and what company you go with.With average savings of about $16,000 on utility bills over 20 years, many homeowners in Horn Lake find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Horn Lake for a quote for your home.
Solar savings over time in Horn Lake
| 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 Horn Lake
When making the switch to solar, many homeowners opt to go with a solar company since installing a solar system yourself can be a difficult project. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers nearby:
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 Horn Lake
Factors that Affect Solar Panel Costs in Horn Lake
There are a number of factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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 energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,140 per kilowatt in Horn Lake.There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. 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
If paying for solar panels in cash is difficult, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a part in determining the cost. Horn Lake’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $10,768 | 14.0 years |
| 8 kW | $3.20 | $17,936 | $14,709 | 13.7 years |
| 10 kW | $3.14 | $21,980 | $18,825 | 13.5 years |
| 12 kW | $3.08 | $25,848 | $23,118 | 13.2 years |
| 14 kW | $3.01 | $29,541 | $27,586 | 12.9 years |
| 16 kW | $2.95 | $33,058 | $32,231 | 12.7 years |
| 18 kW | $2.89 | $36,399 | $37,051 | 12.4 years |
| 20 kW | $2.83 | $39,564 | $42,047 | 12.1 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Horn Lake, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you’re not certain 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: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Horn Lake, MS Solar Cost FAQs
What is the average cost of installing solar panels in Horn Lake?
The average cost of solar panels in Horn Lake is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Horn Lake?
You can’t get solar panels for free in Horn Lake. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Horn Lake, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.
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.