Solar Panel Cost Guide in Senatobia, MS (2023 Update)
- Senatobia Solar Installation Cost: $16,044
- 25-Year Savings: $21,533
- Payback Period: 10.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Senatobia
Let's have a look at the average cost of solar in Senatobia.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Senatobia, the typical cost of a solar system is 2.64 per watt. Because a 8.7-kW system is needed to cover the energy consumption of a typical home in Senatobia, the average price of going solar will be about $16,041 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more. With typical savings of about $16,000 on power bills over 20 years, many homeowners in Senatobia find installing solar panels can pay off big.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Senatobia
| Year | Return on Investment |
|---|---|
| 1 years | $-14,676 |
| 3 years | $-11,942 |
| 5 years | $-9,207 |
| 7 years | $-6,472 |
| 9 years | $-3,737 |
| 11 years | $-1,002 |
| 13 years | $1,733 |
| 15 years | $4,468 |
| 17 years | $7,203 |
| 19 years | $9,937 |
| 21 years | $12,672 |
| 23 years | $15,407 |
| 25 years | $18,142 |
Top Solar Installers in Senatobia
When making the switch to solar, many homeowners prefer to hire a solar installer since handling can be a time-consuming project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. 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 Senatobia
Factors that Affect Solar Panel Costs in Senatobia
For many Senatobia homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Senatobia, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,640 per kilowatt in Senatobia. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Senatobia have solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $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 solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you need plays a part in which installer you should opt for, since different companies offer different panels.
- 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 installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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 Senatobia, MS Solar Cost FAQs
How much does it cost to install solar panels in Senatobia?
This is a difficult question to answer precisely, 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Senatobia have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.