Solar Panel Cost Guide in Richland, MS (2025 Update)
- Richland Solar Installation Cost: $18,366
- 25-Year Savings: $22,514
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Richland
See how much it might cost to go solar in Richland.
The average cost of a solar system in Richland is 3 per watt.Using this figure, a typical 8.4-kW system would cost about $18,366 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Richland see about $17,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar installer in Richland for a quote for your home.
Solar savings over time in Richland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,999 |
| 3 years | $-14,264 |
| 5 years | $-11,529 |
| 7 years | $-8,794 |
| 9 years | $-6,059 |
| 11 years | $-3,324 |
| 13 years | $-589 |
| 15 years | $2,146 |
| 17 years | $4,881 |
| 19 years | $7,615 |
| 21 years | $10,350 |
| 23 years | $13,085 |
| 25 years | $15,820 |
Top Solar Installers in Richland
Many homeowners decide to use a solar installation company since installing solar panels yourself can be challenging. Companies can also have access to various kinds of the best solar panels and help you choose which one will be best for your home.
If you're looking for a solar installer in Richland, we've compiled a list of our top suggestions here:
See all of the solar companies in Richland
Factors that Affect Solar Panel Costs in Richland
While the average cost of a solar system in Richland is $18,366, your actual cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in Richland offer solar loans, which reduce the initial cost of installing a solar system.It’s wise to add 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Richland, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Richland know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $13,539 | 12.6 years |
| 8 kW | $3.20 | $17,936 | $18,404 | 12.3 years |
| 10 kW | $3.14 | $21,980 | $23,444 | 12.1 years |
| 12 kW | $3.08 | $25,848 | $28,661 | 11.9 years |
| 14 kW | $3.01 | $29,541 | $34,053 | 11.6 years |
| 16 kW | $2.95 | $33,058 | $39,621 | 11.4 years |
| 18 kW | $2.89 | $36,399 | $45,365 | 11.1 years |
| 20 kW | $2.83 | $39,564 | $51,285 | 10.9 years |
How to Save on Solar Panels
There are numerous companies to choose from in Richland, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should opt for, since different companies have access to different panels.
- Warranty: If you care about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
EcoWatch's Richland, MS Solar Cost FAQs
How much does it cost to install solar panels in Richland?
The average cost of solar panels in Richland 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 such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Richland?
A solar panel system isn’t free in Richland, 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 you sell solar power back to the grid in Richland?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy 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?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 buy between 20 and 35 panels to account for 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.