Solar Panel Cost Guide in Ridgeland, MS (Mar 2023)
- Ridgeland Solar Installation Cost: $15,431
- 25-Year Savings: $18,924
- Payback Period: 11.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ridgeland
Let's take a look at the average cost of solar in Ridgeland.
While the national average of solar panels is $2.66 per watt, solar panels in Ridgeland generally cost around 2.64. Because a 8.3-kW system is needed to cover the energy consumption of a typical home in Ridgeland, the average price of going solar will be about $15,431 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Ridgeland homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Ridgeland that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ridgeland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,057 |
| 3 years | $-11,308 |
| 5 years | $-8,560 |
| 7 years | $-5,811 |
| 9 years | $-3,063 |
| 11 years | $-315 |
| 13 years | $2,434 |
| 15 years | $5,182 |
| 17 years | $7,930 |
| 19 years | $10,679 |
| 21 years | $13,427 |
| 23 years | $16,176 |
| 25 years | $18,924 |
Top Solar Installers in Ridgeland
Putting up solar panels by yourself can be a challenging task, which is why using a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Ridgeland
Factors that Affect Solar Panel Costs in Ridgeland
The cost of installing a solar system in Ridgeland can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important 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 $2,640 per kilowatt in Ridgeland. Some solar panel 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Ridgeland homeowners opt to finance their solar panel systems to make going solar more affordable. It's a good idea 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
The solar panel installer you choose will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you're looking for and also fits within your budget.
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
There are numerous companies to choose from in Ridgeland, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Ridgeland, MS Solar Cost FAQs
How much does it cost to install solar panels in Ridgeland?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Ridgeland?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 install 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.
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.