Solar Panel Cost Guide in Oxford, MS (2024 Update)
- Oxford Solar Installation Cost: $18,931
- 25-Year Savings: $11,103
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Oxford
Find out how much it might cost to switch to solar power in Oxford.
In Oxford, solar panels cost about 3 per watt on average.The average solar panel system size in Oxford is around 8.6 kilowatts, meaning a cost of about $18,931 for a solar installation, or $27,071 before the 0 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 depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.With average savings of about $13,000 on power bills over 20 years, many homeowners in Oxford find investing in solar can be quite rewarding.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-18,181 |
| 3 years | $-16,680 |
| 5 years | $-15,179 |
| 7 years | $-13,678 |
| 9 years | $-12,177 |
| 11 years | $-10,677 |
| 13 years | $-9,176 |
| 15 years | $-7,675 |
| 17 years | $-6,174 |
| 19 years | $-4,673 |
| 21 years | $-3,172 |
| 23 years | $-1,671 |
| 25 years | $-171 |
Top Solar Installers in Oxford
Installing solar panels by yourself can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- 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
- 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 Oxford
Factors that Affect Solar Panel Costs in Oxford
The cost of installing a solar system in Oxford can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $3,140 per kilowatt in Oxford.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking 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
Many homeowners find the average cost of solar in Oxford to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can impact the cost. Oxford’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their larger 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 | $3.27 | $13,716 | $5,107 | 18.2 years |
| 8 kW | $3.20 | $17,936 | $7,161 | 17.9 years |
| 10 kW | $3.14 | $21,980 | $9,391 | 17.5 years |
| 12 kW | $3.08 | $25,848 | $11,796 | 17.2 years |
| 14 kW | $3.01 | $29,541 | $14,378 | 16.8 years |
| 16 kW | $2.95 | $33,058 | $17,135 | 16.5 years |
| 18 kW | $2.89 | $36,399 | $20,068 | 16.1 years |
| 20 kW | $2.83 | $39,564 | $23,178 | 15.8 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Before you sign a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
Best National Provider
SunPower
- 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
- 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 Oxford, MS Solar Cost FAQs
How much does it cost to install solar panels in Oxford?
The average cost of solar panels in Oxford 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Oxford have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Oxford?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.