Solar Panel Cost Guide in Tupelo, MS (2024 Update)
- Tupelo Solar Installation Cost: $18,968
- 25-Year Savings: $7,961
- Payback Period: 19.8 Years
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Average Cost of Solar Panels in Tupelo
Let’s take a look at the average cost of solar in Tupelo.
In Tupelo, solar panels cost about 3 per watt on average.The average Tupelo homeowner needs a 8.6-kilowatt system, which would cost about $18,968 with the federal tax credit, or $27,124 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Tupelo homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $11,000 on utility bills over 20 years, many homeowners in Tupelo find investing in solar can pay off big.
Click the button below to get connected to a vetted solar company in your area for a personalized quote.
Solar savings over time in Tupelo
| Year | Return on Investment |
|---|---|
| 1 years | $-18,203 |
| 3 years | $-16,673 |
| 5 years | $-15,143 |
| 7 years | $-13,614 |
| 9 years | $-12,084 |
| 11 years | $-10,554 |
| 13 years | $-9,024 |
| 15 years | $-7,494 |
| 17 years | $-5,964 |
| 19 years | $-4,435 |
| 21 years | $-2,905 |
| 23 years | $-1,375 |
| 25 years | $155 |
Top Solar Installers in Tupelo
When switching to solar energy, many homeowners opt to go with a solar company since installing a solar system yourself can be a challenging project. The payback period on a solar system will vary based on factors like your roof configuration and energy use, but working with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.
If you're on the hunt for a solar installer in Tupelo, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Tupelo
Factors that Affect Solar Panel Costs in Tupelo
There are several factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,140. The brand and kind of equipment you get for your solar system can raise or lower 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Tupelo, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.Although solar loans make going solar more accessible for Tupelo homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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 installer you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Tupelo, and each can charge different amounts for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $2,908 | 20.6 years |
| 8 kW | $3.20 | $17,936 | $4,228 | 20.2 years |
| 10 kW | $3.14 | $21,980 | $5,725 | 19.8 years |
| 12 kW | $3.08 | $25,848 | $7,398 | 19.4 years |
| 14 kW | $3.01 | $29,541 | $9,246 | 19.0 years |
| 16 kW | $2.95 | $33,058 | $11,270 | 18.6 years |
| 18 kW | $2.89 | $36,399 | $13,470 | 18.2 years |
| 20 kW | $2.83 | $39,564 | $15,846 | 17.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When making the switch to solar power, it’s crucial to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
Best National Provider
SunPower
- 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
- 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 Tupelo, MS Solar Cost FAQs
What is the average cost of installing solar panels in Tupelo?
This is a hard question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Tupelo?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is making the switch to solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 get between 20 and 35 panels to account for 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.