Solar Panel Cost Guide in Indianola, MS (2024 Update)
- Indianola Solar Installation Cost: $18,539
- 25-Year Savings: $27,250
- Payback Period: 10.8 Years
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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.
Although the national average of solar panels is $2.66 per watt, solar panels in Indianola generally cost around 3.Using this figure, a typical 8.4-kW system would cost about $18,539 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more.But, after you've paid the upfront cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $19,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Indianola
| Year | Return on Investment |
|---|---|
| 1 years | $-17,171 |
| 3 years | $-14,436 |
| 5 years | $-11,701 |
| 7 years | $-8,967 |
| 9 years | $-6,232 |
| 11 years | $-3,497 |
| 13 years | $-762 |
| 15 years | $1,973 |
| 17 years | $4,708 |
| 19 years | $7,443 |
| 21 years | $10,178 |
| 23 years | $12,912 |
| 25 years | $15,647 |
Top Solar Installers in Indianola
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make your swap to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you decide which one will be right for your family.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Indianola:
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 Indianola
Factors that Affect Solar Panel Costs in Indianola
The cost of installing a solar system in Indianola can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,140.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Indianola, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.Even though solar loans make adopting solar energy more accessible for Indianola homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $16,757 | 11.3 years |
| 8 kW | $3.20 | $17,936 | $22,695 | 11.0 years |
| 10 kW | $3.14 | $21,980 | $28,808 | 10.8 years |
| 12 kW | $3.08 | $25,848 | $35,097 | 10.6 years |
| 14 kW | $3.01 | $29,541 | $41,562 | 10.4 years |
| 16 kW | $2.95 | $33,058 | $48,203 | 10.2 years |
| 18 kW | $2.89 | $36,399 | $55,020 | 10.0 years |
| 20 kW | $2.83 | $39,564 | $62,012 | 9.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Indianola, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, be 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 the warranty covers and if there are any guarantees about energy production.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
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 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 $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 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 Indianola?
Solar panels aren’t free in Indianola, 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 can further reduce the cost.
Can solar panels completely eradicate my power bills?
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 $1,015.76 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.