Solar Panel Cost Guide in St Martin, MS (2023 Update)
- St Martin Solar Installation Cost: $14,876
- 25-Year Savings: $28,908
- Payback Period: 8.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in St Martin
Find out what the average cost of installing solar panels is in St Martin.
Although the national average of solar panels is $2.66 per watt, solar panels in St Martin generally cost about 2.64. Using this figure, a typical 8.1-kW system would cost about $14,876 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar system you want to get, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $21,000 in savings on electricity bills over 20 years.
To receive a free quote from a highly rated solar company in St Martin, you can click the button below.
Solar savings over time in St Martin
| Year | Return on Investment |
|---|---|
| 1 years | $-13,125 |
| 3 years | $-9,622 |
| 5 years | $-6,120 |
| 7 years | $-2,617 |
| 9 years | $886 |
| 11 years | $4,389 |
| 13 years | $7,891 |
| 15 years | $11,394 |
| 17 years | $14,897 |
| 19 years | $18,399 |
| 21 years | $21,902 |
| 23 years | $25,405 |
| 25 years | $28,908 |
Top Solar Installers in St Martin
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using a solar panel installer can make converting to solar power much easier. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for you.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 St Martin
Factors that Affect Solar Panel Costs in St Martin
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in St Martin: 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
When it comes to estimating the cost of a solar panel system in St Martin, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,640 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down 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. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the St Martin average.
Solar Financing Terms
Many homeowners find the average cost of solar in St Martin to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar 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 St Martin are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.75 | $11,532 | $21,089 | 8.8 years |
| 8 kW | $2.69 | $15,080 | $28,414 | 8.7 years |
| 10 kW | $2.64 | $18,480 | $35,888 | 8.5 years |
| 12 kW | $2.59 | $21,732 | $43,509 | 8.3 years |
| 14 kW | $2.53 | $24,837 | $51,278 | 8.2 years |
| 16 kW | $2.48 | $27,794 | $59,194 | 8.0 years |
| 18 kW | $2.43 | $30,603 | $67,259 | 7.8 years |
| 20 kW | $2.38 | $33,264 | $75,471 | 7.6 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 St Martin, MS Solar Cost FAQs
How much does it cost to install solar panels in St Martin?
This is a hard question to answer exactly, because the cost depends on a variety of 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in St Martin?
Solar panels aren't free in St Martin, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,087.35 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.