Solar Panel Cost Guide in Indianola, MS (Mar 2023)
- Indianola Solar Installation Cost: $15,579
- 25-Year Savings: $27,258
- Payback Period: 9.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Indianola
Let's have a look at the average cost of solar panels in Indianola.
The national average cost of solar panels is $2.66 per watt, but in Indianola it's 2.64 per watt. Using this figure, a typical 8.4-kW system would cost about $15,579 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Indianola can save about $19,000 on their power bills over 20 years.
To receive a free quote from a pre-vetted solar company in Indianola, you can click the button below.
Solar savings over time in Indianola
| Year | Return on Investment |
|---|---|
| 1 years | $-13,865 |
| 3 years | $-10,438 |
| 5 years | $-7,011 |
| 7 years | $-3,584 |
| 9 years | $-158 |
| 11 years | $3,269 |
| 13 years | $6,696 |
| 15 years | $10,123 |
| 17 years | $13,550 |
| 19 years | $16,977 |
| 21 years | $20,404 |
| 23 years | $23,831 |
| 25 years | $27,258 |
Top Solar Installers in Indianola
Although you can install solar panels on your own, it involves extra effort and handiness. Because of that, most homeowners choose to go with a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar system company to go with, here are our suggestions for providers 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Indianola
Factors that Affect Solar Panel Costs in Indianola
For many Indianola homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Indianola, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Indianola homeowners choose to finance their solar panel systems to make going solar more affordable. It's a good idea to include 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
Finally, the company you get to install your solar panels can impact the cost. Indianola's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Indianola are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $18,941 | 9.5 years |
| 8 kW | $2.69 | $15,080 | $25,551 | 9.3 years |
| 10 kW | $2.64 | $18,480 | $32,308 | 9.1 years |
| 12 kW | $2.59 | $21,732 | $39,213 | 8.9 years |
| 14 kW | $2.53 | $24,837 | $46,266 | 8.7 years |
| 16 kW | $2.48 | $27,794 | $53,467 | 8.6 years |
| 18 kW | $2.43 | $30,603 | $60,816 | 8.4 years |
| 20 kW | $2.38 | $33,264 | $68,312 | 8.2 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Indianola, MS Solar Cost FAQs
What is the average cost of installing solar panels in Indianola?
The average cost of solar panels in Indianola 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can solar panels completely eradicate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Indianola, 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 often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.