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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Southaven

Find out how much it might cost to make the switch to solar in Southaven.

The national average cost of solar panels is $2.66 per watt, but in Southaven it's $3 per watt. Using this figure, a typical 8.7 would cost about $16,115 before the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. With average savings of about $16,000 on utility bills over 20 years, many homeowners in Southaven find investing in solar can pay off big.

You can click the button below to get connected with a pre-vetted solar installer in Southaven for a quote for your home.

Solar savings over time in Southaven

Year Return on Investment
1 years $-14,676
3 years $-11,799
5 years $-8,923
7 years $-6,046
9 years $-3,169
11 years $-292
13 years $2,585
15 years $5,461
17 years $8,338
19 years $11,215
21 years $14,092
23 years $16,968
25 years $19,845

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:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

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.

Solar Equipment

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.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Southaven, MS Solar Cost FAQs

What is the average cost of installing solar panels in Southaven?

The average cost of solar panels in Southaven is about $13,200 for a 5-kW system and $26,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Southaven?

Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.

Does Southaven have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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.

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