Solar Panel Cost Guide in Meridian, MS (2023 Update)
- Meridian Solar Installation Cost: $15,305
- 25-Year Savings: $31,858
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Meridian
See how much it might cost to install solar panels in Meridian.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Meridian, the typical cost of a solar system is 2.64 per watt. The average solar panel system size in Meridian is around 8.3 kilowatts, meaning a cost of about $15,301 for a solar installation, or $21,880 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront cost of solar power is worth paying. On average Meridian homeowners see about $22,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Meridian for a quote for your home.
Solar savings over time in Meridian
| Year | Return on Investment |
|---|---|
| 1 years | $-15,148 |
| 3 years | $-14,833 |
| 5 years | $-14,519 |
| 7 years | $-14,205 |
| 9 years | $-13,890 |
| 11 years | $-13,576 |
| 13 years | $-13,261 |
| 15 years | $-12,947 |
| 17 years | $-12,633 |
| 19 years | $-12,318 |
| 21 years | $-12,004 |
| 23 years | $-11,689 |
| 25 years | $-11,375 |
Top Solar Installers in Meridian
When making the switch to solar, many homeowners choose to hire a solar installation company since handling can be a time-consuming project. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Meridian
Factors that Affect Solar Panel Costs in Meridian
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Meridian: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,640. The model of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Meridian, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Meridian, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better 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 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 | $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
Since the brand of solar panels and the installation company you choose greatly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things 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. While 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 options before making your decision.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
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 Meridian, MS Solar Cost FAQs
How much does it cost to install solar panels in Meridian?
The average cost of solar panels in Meridian 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Meridian?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.