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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Laurel, the average cost of a solar system is 3 per watt.The average solar panel system size in Laurel is around 8.3 kilowatts, meaning a cost of about $18,140 for a solar installation, or $25,940 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will look different based on your energy needs and what company you want to go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $21,000 in savings on utility bills over 20 years.
To get a free quote from a highly rated solar company in Laurel, you can 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
Although it's possible to install solar panels yourself, it takes extra labor and handiness. Because of that, most people choose to go with a solar panel installer. Also, if you’d like to maximize your investment in solar power, opting for a solar installer can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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
For many Laurel homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Laurel, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important 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 Laurel.There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just 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 significant investment. That’s why many Laurel homeowners choose to finance their solar panel systems to offset upfront costs.Although solar loans make adopting solar energy more accessible for Laurel homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect the cost. Laurel’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Laurel are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $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
There are numerous companies to choose from in Laurel, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- 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 most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: An important thing to understand when adopting solar energy 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 acquire and what the project timeline is.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
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?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $15,700 for a 5-kW system and $31,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Laurel?
Solar panels aren’t free in Laurel, 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.
Does Laurel have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation 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 often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.