Solar Panel Cost Guide in Meridian, MS (Feb 2023)
- Meridian Solar Installation Cost: $15,301
- 25-Year Savings: $31,862
- Payback Period: 8.1 Years
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Top Solar Installers in Meridian
When making the switch to solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a challenging project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Meridian:
See all of the solar companies in Meridian
Factors that Affect Solar Panel Costs in Meridian
For many Meridian homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Meridian, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Meridian, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating in Meridian, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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||$22,636||8.4 years|
|8 kW||$2.69||$15,080||$30,477||8.3 years|
|10 kW||$2.64||$18,480||$38,466||8.1 years|
|12 kW||$2.59||$21,732||$46,603||8.0 years|
|14 kW||$2.53||$24,837||$54,887||7.8 years|
|16 kW||$2.48||$27,794||$63,320||7.6 years|
|18 kW||$2.43||$30,603||$71,900||7.5 years|
|20 kW||$2.38||$33,264||$80,628||7.3 years|
How to Save on Solar Panels
There are a large number of companies to choose from in Meridian, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Review the contract terms carefully to make sure you understand the total cost, project timeline rebates and warranties.
EcoWatch's Meridian, MS Solar Cost FAQs
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.