Solar Panel Cost Guide in Meridian, MS (2024 Update)
- Meridian Solar Installation Cost: $18,204
- 25-Year Savings: $31,858
- Payback Period: 9.6 Years
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Average Cost of Solar Panels in Meridian
Find out how much it might cost to switch to solar power in Meridian.
In Meridian, solar panels cost about 3 per watt on average.The average solar panel system size in Meridian is around 8.3 kilowatts, meaning a cost of about $18,204 for a solar installation, or $26,032 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs may look different based on your energy needs and what company you choose to go with.With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Meridian find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Meridian
| Year | Return on Investment |
|---|---|
| 1 years | $-16,379 |
| 3 years | $-12,730 |
| 5 years | $-9,081 |
| 7 years | $-5,432 |
| 9 years | $-1,782 |
| 11 years | $1,867 |
| 13 years | $5,516 |
| 15 years | $9,165 |
| 17 years | $12,814 |
| 19 years | $16,463 |
| 21 years | $20,113 |
| 23 years | $23,762 |
| 25 years | $27,411 |
Top Solar Installers in Meridian
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Using an installer can make switching to solar power much easier. Another benefit of working with a solar installer is that they can help you optimize your return of investment by bringing down your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers 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 adopt solar energy 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 a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,140. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Meridian average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Meridian homeowners opt to finance their solar panel systems to make going solar more affordable.It’s a good idea to include 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 company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Meridian, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $20,452 | 10.0 years |
| 8 kW | $3.20 | $17,936 | $27,621 | 9.8 years |
| 10 kW | $3.14 | $21,980 | $34,966 | 9.6 years |
| 12 kW | $3.08 | $25,848 | $42,487 | 9.5 years |
| 14 kW | $3.01 | $29,541 | $50,183 | 9.3 years |
| 16 kW | $2.95 | $33,058 | $58,056 | 9.1 years |
| 18 kW | $2.89 | $36,399 | $66,104 | 8.9 years |
| 20 kW | $2.83 | $39,564 | $74,328 | 8.7 years |
How to Save on Solar Panels
There are many companies to choose from in Meridian, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project timeline.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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 $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Meridian?
A solar panel system isn’t free in Meridian, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Meridian, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 cover 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.