Solar Panel Cost Guide in Latimer, MS (2024 Update)
- Latimer Solar Installation Cost: $17,701
- 25-Year Savings: $28,714
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Latimer
Find out what the average cost of a solar system is in Latimer.
The national average cost of solar panels is $2.66 per watt, but in Latimer it’s 3 per watt.The average Latimer homeowner needs a 8.1-kilowatt system, which would cost about $17,701 with the federal tax credit, or $25,312 before the 0 tax credit is applied.
The true cost of your system can go higher or lower than the average in Latimer based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire.For most homeowners, the upfront cost of solar is worth paying. On average Latimer homeowners see about $21,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Latimer
| Year | Return on Investment |
|---|---|
| 1 years | $-15,955 |
| 3 years | $-12,463 |
| 5 years | $-8,971 |
| 7 years | $-5,479 |
| 9 years | $-1,987 |
| 11 years | $1,505 |
| 13 years | $4,997 |
| 15 years | $8,489 |
| 17 years | $11,981 |
| 19 years | $15,473 |
| 21 years | $18,965 |
| 23 years | $22,457 |
| 25 years | $25,949 |
Top Solar Installers in Latimer
Trying to install solar panels on your own can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Plus, if you’re unsure what kind of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our recommendations for providers in Latimer:
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 Latimer
Factors that Affect Solar Panel Costs in Latimer
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Latimer: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,140. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Latimer, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Latimer have solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Latimer is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different costs.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $18,765 | 10.6 years |
| 8 kW | $3.20 | $17,936 | $25,372 | 10.4 years |
| 10 kW | $3.14 | $21,980 | $32,155 | 10.2 years |
| 12 kW | $3.08 | $25,848 | $39,113 | 9.9 years |
| 14 kW | $3.01 | $29,541 | $46,247 | 9.7 years |
| 16 kW | $2.95 | $33,058 | $53,558 | 9.5 years |
| 18 kW | $2.89 | $36,399 | $61,043 | 9.3 years |
| 20 kW | $2.83 | $39,564 | $68,705 | 9.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
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 Latimer, MS Solar Cost FAQs
What is the average cost of installing solar panels in Latimer?
The average cost of solar panels in Latimer 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Latimer?
You can’t get solar panels for free in Latimer. However, you may still be able to afford 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.
Does Latimer have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.