Solar Panel Cost Guide in Laurel, MS (2024 Update)
- Laurel Solar Installation Cost: $18,140
- 25-Year Savings: $25,605
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in Laurel
We go over average solar pricing in Laurel.
In Laurel, solar panels cost about 3 per watt on average.Using this figure, a typical 8.3-kW system would cost about $18,140 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Laurel homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $21,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Laurel
| Year | Return on Investment |
|---|---|
| 1 years | $-16,391 |
| 3 years | $-12,891 |
| 5 years | $-9,391 |
| 7 years | $-5,892 |
| 9 years | $-2,392 |
| 11 years | $1,108 |
| 13 years | $4,607 |
| 15 years | $8,107 |
| 17 years | $11,607 |
| 19 years | $15,106 |
| 21 years | $18,606 |
| 23 years | $22,106 |
| 25 years | $25,605 |
Top Solar Installers in Laurel
Many homeowners opt for a solar installer since trying to install solar panels on your own can be time-consuming. Another perk of working with a solar company is that they can help you maximize your investment by reducing your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
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 Laurel:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Laurel
Factors that Affect Solar Panel Costs in Laurel
Though the average cost of a solar system in Laurel is $18,140, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Laurel, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,140 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that are more efficient tend to also cost more. In addition, 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 power bills over time, but they can also be a big investment. That’s why many Laurel homeowners decide to finance their solar panel systems to offset upfront costs.Even though solar loans make adopting solar energy more accessible for Laurel homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Laurel, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that has the products, warranties and services you want and also is within your budget.
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 | $18,944 | 10.5 years |
| 8 kW | $3.20 | $17,936 | $25,610 | 10.3 years |
| 10 kW | $3.14 | $21,980 | $32,452 | 10.1 years |
| 12 kW | $3.08 | $25,848 | $39,470 | 9.9 years |
| 14 kW | $3.01 | $29,541 | $46,664 | 9.7 years |
| 16 kW | $2.95 | $33,058 | $54,034 | 9.5 years |
| 18 kW | $2.89 | $36,399 | $61,579 | 9.3 years |
| 20 kW | $2.83 | $39,564 | $69,300 | 9.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- 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 support, such as part repairs and replacements.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Laurel, MS Solar Cost FAQs
How much does it cost to install solar panels in Laurel?
The average cost of solar panels in Laurel 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 type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Laurel?
You can’t get solar panels for free in Laurel. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Laurel have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid 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 Laurel?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.