Solar Panel Cost Guide in Senatobia, MS (2024 Update)
- Senatobia Solar Installation Cost: $19,082
- 25-Year Savings: $21,533
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Senatobia
Find out what the average cost of solar panels are in Senatobia.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Senatobia, the typical cost of solar panels is 3 per watt.Using this figure, a typical 8.7-kW system would cost about $19,082 before the 0 federal solar tax credit is applied.
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 consumption, the type of solar panels you choose, your solar contractor and more.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Senatobia see about $16,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.
Solar savings over time in Senatobia
| Year | Return on Investment |
|---|---|
| 1 years | $-17,715 |
| 3 years | $-14,980 |
| 5 years | $-12,245 |
| 7 years | $-9,510 |
| 9 years | $-6,776 |
| 11 years | $-4,041 |
| 13 years | $-1,306 |
| 15 years | $1,429 |
| 17 years | $4,164 |
| 19 years | $6,899 |
| 21 years | $9,634 |
| 23 years | $12,369 |
| 25 years | $15,103 |
Top Solar Installers in Senatobia
Putting up solar panels on your own can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Senatobia:
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 comes down to 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 numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,140. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Senatobia average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Senatobia, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.Although solar loans make going solar more accessible for Senatobia homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Senatobia have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $12,254 | 13.2 years |
| 8 kW | $3.20 | $17,936 | $16,690 | 12.9 years |
| 10 kW | $3.14 | $21,980 | $21,302 | 12.7 years |
| 12 kW | $3.08 | $25,848 | $26,090 | 12.4 years |
| 14 kW | $3.01 | $29,541 | $31,053 | 12.2 years |
| 16 kW | $2.95 | $33,058 | $36,193 | 11.9 years |
| 18 kW | $2.89 | $36,399 | $41,508 | 11.7 years |
| 20 kW | $2.83 | $39,564 | $46,999 | 11.4 years |
How to Save on Solar Panels
There are many companies to choose from in Senatobia, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Read the contract terms carefully to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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
What is the average cost of installing solar panels in Senatobia?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $15,700 for a 5-kW system and $31,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Senatobia?
You can’t get solar panels for free in Senatobia. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact how much my 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 a solar system."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.