Solar Panel Cost Guide in Magee, MS (2023 Update)
- Magee Solar Installation Cost: $15,450
- 25-Year Savings: $23,106
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Magee
We break down average solar pricing in Magee.
In Magee, solar panels cost about 2.64 per watt on average. Using this figure, a typical 8.4-kW system would cost about $15,449 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Magee based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Magee find going solar has a decent ROI.
To get a free estimate from a highly rated solar installation company in Magee, you can click the button below.
Solar savings over time in Magee
| Year | Return on Investment |
|---|---|
| 1 years | $-14,082 |
| 3 years | $-11,348 |
| 5 years | $-8,613 |
| 7 years | $-5,878 |
| 9 years | $-3,143 |
| 11 years | $-408 |
| 13 years | $2,327 |
| 15 years | $5,062 |
| 17 years | $7,797 |
| 19 years | $10,532 |
| 21 years | $13,266 |
| 23 years | $16,001 |
| 25 years | $18,736 |
Top Solar Installers in Magee
Many homeowners decide to hire a solar installer since trying to put up solar panels on your own can be time-consuming. Plus, if you're unsure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Magee: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,640. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Magee average.
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. However, the interest on solar loans also increases your total costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Magee is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services for different budgets. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk 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 names.
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
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which brand 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 options before deciding.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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
What is the average cost of installing solar panels in Magee?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,200 for a 5-kW system and $26,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my home value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for 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 a solar system."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.