Solar Panel Cost Guide in Ridgeland, MS (2023 Update)
- Ridgeland Solar Installation Cost: $15,428
- 25-Year Savings: $18,927
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ridgeland
Here's how much it might cost to go solar in Ridgeland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ridgeland, the average cost of a solar system is 2.64 per watt. To cover the typical energy needs of the average home in Ridgeland, most homeowners require a 8.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,431, or $22,066 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Ridgeland homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Ridgeland find investing in solar can pay off big.
To receive a free estimate from a pre-vetted solar company in Ridgeland, you can click the button below.
Solar savings over time in Ridgeland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,060 |
| 3 years | $-11,326 |
| 5 years | $-8,591 |
| 7 years | $-5,856 |
| 9 years | $-3,121 |
| 11 years | $-386 |
| 13 years | $2,349 |
| 15 years | $5,084 |
| 17 years | $7,819 |
| 19 years | $10,553 |
| 21 years | $13,288 |
| 23 years | $16,023 |
| 25 years | $18,758 |
Top Solar Installers in Ridgeland
Installing solar panels by yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Ridgeland
Factors that Affect Solar Panel Costs in Ridgeland
Although the average cost of a solar system in Ridgeland is $15,431, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
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 electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,640 per kilowatt in Ridgeland. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Ridgeland, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Ridgeland, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $13,159 | 11.7 years |
| 8 kW | $2.69 | $15,080 | $17,841 | 11.5 years |
| 10 kW | $2.64 | $18,480 | $22,671 | 11.2 years |
| 12 kW | $2.59 | $21,732 | $27,649 | 11.0 years |
| 14 kW | $2.53 | $24,837 | $32,774 | 10.8 years |
| 16 kW | $2.48 | $27,794 | $38,047 | 10.6 years |
| 18 kW | $2.43 | $30,603 | $43,469 | 10.3 years |
| 20 kW | $2.38 | $33,264 | $49,038 | 10.1 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: The type of solar panel you'd like to get plays a part in which installer you should choose, since different companies have different panels.
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 Ridgeland, MS Solar Cost FAQs
How much does it cost to install solar panels in Ridgeland?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Ridgeland?
Solar panels aren't free in Ridgeland, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Ridgeland, that will require at least a 10-kW system. Not all homes will have roofs that 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.
How long do solar panels last in Ridgeland?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.