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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Meridian

Find out what the average cost of solar panel installation is in Meridian.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Meridian, the typical cost of solar panels is $3 per watt. To account for the typical energy usage of the average home in Meridian, most homeowners require a 8.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,301, or $11,323 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on energy bills.

To get a free estimate from a top solar company in Meridian, you can click the button below.

Solar savings over time in Meridian

Year Return on Investment
1 years $-13,415
3 years $-9,642
5 years $-5,869
7 years $-2,096
9 years $1,677
11 years $5,450
13 years $9,223
15 years $12,996
17 years $16,769
19 years $20,542
21 years $24,315
23 years $28,089
25 years $31,862

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:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

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 Equipment

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.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Meridian, MS Solar Cost FAQs

What is the average cost of installing solar panels in Meridian?

This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly 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 additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Meridian?

Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.

Does Meridian have a net metering program?

Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out 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 house 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.

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