Solar Panel Cost Guide in Southaven, MS (Feb 2023)
- Southaven Solar Installation Cost: $16,115
- 25-Year Savings: $19,845
- Payback Period: 11.2 Years
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Top Solar Installers in Southaven
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make swapping over to solar power much easier. The expertise that solar companies provide can be invaluable as well, especially if you aren't sure what type of solar equipment you need.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Southaven
Factors that Affect Solar Panel Costs in Southaven
For many Southaven homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Southaven, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,640. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Southaven average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Southaven, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Southaven is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different costs. Additionally, some companies in Southaven are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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||$13,223||11.6 years|
|8 kW||$2.69||$15,080||$17,927||11.4 years|
|10 kW||$2.64||$18,480||$22,778||11.2 years|
|12 kW||$2.59||$21,732||$27,777||11.0 years|
|14 kW||$2.53||$24,837||$32,924||10.7 years|
|16 kW||$2.48||$27,794||$38,219||10.5 years|
|18 kW||$2.43||$30,603||$43,661||10.3 years|
|20 kW||$2.38||$33,264||$49,252||10.1 years|
How to Save on Solar Panels
The solar company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: It's important to read through 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.
EcoWatch's Southaven, MS Solar Cost FAQs
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.