Solar Panel Cost Guide in Senatobia, MS (Mar 2023)
- Senatobia Solar Installation Cost: $16,041
- 25-Year Savings: $21,536
- Payback Period: 10.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Senatobia
Find out how much it might cost to switch to solar power in Senatobia.
The national average cost of solar panels is $2.66 per watt, but in Senatobia it's 2.64 per watt. Using this figure, a typical 8.7-kW system would cost about $16,041 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of equipment you want to get, your solar contractor and more. Despite the significant initial cost, the average Senatobia homeowner can save about $16,000 on their power bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a vetted solar panel company in Senatobia for a custom quote.
Solar savings over time in Senatobia
| Year | Return on Investment |
|---|---|
| 1 years | $-14,538 |
| 3 years | $-11,531 |
| 5 years | $-8,525 |
| 7 years | $-5,519 |
| 9 years | $-2,513 |
| 11 years | $493 |
| 13 years | $3,499 |
| 15 years | $6,505 |
| 17 years | $9,511 |
| 19 years | $12,518 |
| 21 years | $15,524 |
| 23 years | $18,530 |
| 25 years | $21,536 |
Top Solar Installers in Senatobia
Trying to put up solar panels by yourself can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you decide which one will be best for your family.
If you're on the hunt for a solar installer in Senatobia, we've compiled a list of our top suggestions here:
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 Senatobia
Factors that Affect Solar Panel Costs in Senatobia
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Senatobia: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Senatobia, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Senatobia homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Senatobia know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $2.75 | $11,532 | $14,438 | 11.1 years |
| 8 kW | $2.69 | $15,080 | $19,546 | 10.9 years |
| 10 kW | $2.64 | $18,480 | $24,802 | 10.7 years |
| 12 kW | $2.59 | $21,732 | $30,206 | 10.5 years |
| 14 kW | $2.53 | $24,837 | $35,757 | 10.2 years |
| 16 kW | $2.48 | $27,794 | $41,457 | 10.0 years |
| 18 kW | $2.43 | $30,603 | $47,304 | 9.8 years |
| 20 kW | $2.38 | $33,264 | $53,299 | 9.6 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Senatobia, 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: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: The brand of solar panel you'd like to install plays a role in which installer you should choose, since different companies offer different panels.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the completion timeline.
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 Senatobia, MS Solar Cost FAQs
What is the average cost of installing solar panels in Senatobia?
The average cost of solar panels in Senatobia is about $13,200 for a 5-kW system and $26,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.