Solar Panel Cost Guide in University, MS (2024 Update)
- University Solar Installation Cost: $18,931
- 25-Year Savings: $5,509
- Payback Period: 22.1 Years
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Average Cost of Solar Panels in University
Let’s have a look at the average cost of solar panels in University.
Currently, the national average cost of solar panels is $2.66 per watt. However, in University, the typical cost of solar panels is 3 per watt.To cover the typical energy usage of the average home in University, most homeowners require a 8.6-kilowatt system. Using the figure above, a solar installation costs around $18,931, or $27,071 before the federal solar tax credit of 0 is applied.
The true price you pay can go higher or lower than the average in University based on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average University homeowner can save around $10,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar company in University that can help you get a more accurate cost estimate for your home.
Solar savings over time in University
| Year | Return on Investment |
|---|---|
| 1 years | $-18,931 |
| 3 years | $-18,931 |
| 5 years | $-18,931 |
| 7 years | $-18,931 |
| 9 years | $-18,931 |
| 11 years | $-18,931 |
| 13 years | $-18,931 |
| 15 years | $-18,931 |
| 17 years | $-18,931 |
| 19 years | $-18,931 |
| 21 years | $-18,931 |
| 23 years | $-18,931 |
| 25 years | $-18,931 |
Top Solar Installers in University
When switching to solar energy, many homeowners prefer to go with a solar company since overseeing your solar installation yourself can be a challenging project. Some solar installers, especially local ones, can help you better understand incentives in University, thereby optimizing your ROI.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
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 University
Factors that Affect Solar Panel Costs in University
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in University: 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
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,140. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 bring your total well above the University average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also adds to your total costs, so it’s crucial to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout University, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that offers 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 | $1,210 | 23.0 years |
| 8 kW | $3.20 | $17,936 | $1,965 | 22.5 years |
| 10 kW | $3.14 | $21,980 | $2,896 | 22.1 years |
| 12 kW | $3.08 | $25,848 | $4,002 | 21.6 years |
| 14 kW | $3.01 | $29,541 | $5,285 | 21.2 years |
| 16 kW | $2.95 | $33,058 | $6,743 | 20.8 years |
| 18 kW | $2.89 | $36,399 | $8,377 | 20.3 years |
| 20 kW | $2.83 | $39,564 | $10,187 | 19.9 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 decide on the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
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 University, MS Solar Cost FAQs
How much does it cost to install solar panels in University?
The average cost of solar panels in University is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in University?
Solar panels aren’t free in University, 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 help lower the cost.
Can you sell solar power back to the grid in University?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.