Solar Panel Cost Guide in Magee, MS (Jan 2023)
- Magee Solar Installation Cost: $15,449
- 25-Year Savings: $23,107
- Payback Period: 10.0 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Magee
Let's have a look at the average cost of solar panels in Magee.
Although the national average of solar panels is $2.66 per watt, solar panels in Magee generally cost around $3. The average Magee homeowner needs a 8.4-kilowatt system, which would cost about $15,449, or $11,432 after the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy usage and what solar installer you go with. Despite the large upfront cost, the average Magee homeowner can save about $18,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Magee
| Year | Return on Investment |
|---|---|
| 1 years | $-13,907 |
| 3 years | $-10,823 |
| 5 years | $-7,738 |
| 7 years | $-4,654 |
| 9 years | $-1,569 |
| 11 years | $1,515 |
| 13 years | $4,600 |
| 15 years | $7,684 |
| 17 years | $10,769 |
| 19 years | $13,853 |
| 21 years | $16,938 |
| 23 years | $20,022 |
| 25 years | $23,107 |
Top Solar Installers in Magee
When going solar, many homeowners prefer to go with a solar company since DIY solar panel installation can be a difficult project. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for you.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Magee:
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 Magee
Factors that Affect Solar Panel Costs in Magee
Though the average cost of a solar system in Magee is $15,449, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Magee, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,640 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Magee, where sunlight is abundant, efficiency can quickly pay off. In addition, 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
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Magee homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Magee, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $2.75 | $11,532 | $16,139 | 10.4 years |
| 8 kW | $2.69 | $15,080 | $21,814 | 10.2 years |
| 10 kW | $2.64 | $18,480 | $27,638 | 10.0 years |
| 12 kW | $2.59 | $21,732 | $33,609 | 9.8 years |
| 14 kW | $2.53 | $24,837 | $39,728 | 9.6 years |
| 16 kW | $2.48 | $27,794 | $45,994 | 9.4 years |
| 18 kW | $2.43 | $30,603 | $52,409 | 9.2 years |
| 20 kW | $2.38 | $33,264 | $58,971 | 9.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: If you're worried about the endurance of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Magee, MS Solar Cost FAQs
What is the average cost of installing solar panels in Magee?
The average cost of solar panels in Magee 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Magee?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Magee, 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 many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.