Solar Panel Cost Guide in Magee, MS (2024 Update)
- Magee Solar Installation Cost: $18,376
- 25-Year Savings: $23,106
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Magee
Find out what the average cost of a solar system is in Magee.
The average cost of a solar system in Magee is 3 per watt.The average Magee homeowner needs a 8.4-kilowatt system, which would cost about $18,376 with the federal tax credit, or $26,278 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Magee homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the significant initial cost, the average Magee homeowner can save about $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Magee
| Year | Return on Investment |
|---|---|
| 1 years | $-17,008 |
| 3 years | $-14,274 |
| 5 years | $-11,539 |
| 7 years | $-8,804 |
| 9 years | $-6,069 |
| 11 years | $-3,334 |
| 13 years | $-599 |
| 15 years | $2,136 |
| 17 years | $4,871 |
| 19 years | $7,605 |
| 21 years | $10,340 |
| 23 years | $13,075 |
| 25 years | $15,810 |
Top Solar Installers in Magee
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make your switch to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Magee
Factors that Affect Solar Panel Costs in Magee
For many Magee homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Magee, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use 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 choose 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Magee, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger 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
The solar installer you opt for to handle your switch to renewable 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.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $13,955 | 12.4 years |
| 8 kW | $3.20 | $17,936 | $18,958 | 12.2 years |
| 10 kW | $3.14 | $21,980 | $24,138 | 11.9 years |
| 12 kW | $3.08 | $25,848 | $29,493 | 11.7 years |
| 14 kW | $3.01 | $29,541 | $35,024 | 11.4 years |
| 16 kW | $2.95 | $33,058 | $40,730 | 11.2 years |
| 18 kW | $2.89 | $36,399 | $46,613 | 11.0 years |
| 20 kW | $2.83 | $39,564 | $52,671 | 10.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Reputation: Make sure your solar company 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 EcoWatch.
- 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 if the company goes out of business.
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 Magee, MS Solar Cost FAQs
How much does it cost to install solar panels in Magee?
This is a difficult question to answer precisely, because the cost depends on many 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires 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 household 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.