Solar Panel Cost Guide in Waveland, MS (2023 Update)
- Waveland Solar Installation Cost: $14,721
- 25-Year Savings: $30,576
- Payback Period: 8.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Waveland
Let's have a look at the average cost of solar in Waveland.
The national average cost of solar panels is $2.66 per watt, but in Waveland it's 2.64 per watt. Since a 8.0-kW system is needed to cover the energy usage of a typical home in Waveland, the average price of going solar will be about $14,729 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Waveland can save around $22,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Waveland for a quote for your home.
Solar savings over time in Waveland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,570 |
| 3 years | $-14,268 |
| 5 years | $-13,966 |
| 7 years | $-13,664 |
| 9 years | $-13,362 |
| 11 years | $-13,060 |
| 13 years | $-12,759 |
| 15 years | $-12,457 |
| 17 years | $-12,155 |
| 19 years | $-11,853 |
| 21 years | $-11,551 |
| 23 years | $-11,249 |
| 25 years | $-10,947 |
Top Solar Installers in Waveland
Many homeowners decide to hire a solar installation company since installing solar panels by yourself can be time-consuming. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for your home.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Waveland
Factors that Affect Solar Panel Costs in Waveland
Although the average cost of a solar system in Waveland is $14,729, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,640 per kilowatt in Waveland. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Waveland to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. Although solar loans make going solar more accessible for Waveland homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence the cost. Waveland's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $22,586 | 8.4 years |
| 8 kW | $2.69 | $15,080 | $30,410 | 8.3 years |
| 10 kW | $2.64 | $18,480 | $38,383 | 8.1 years |
| 12 kW | $2.59 | $21,732 | $46,503 | 8.0 years |
| 14 kW | $2.53 | $24,837 | $54,770 | 7.8 years |
| 16 kW | $2.48 | $27,794 | $63,186 | 7.6 years |
| 18 kW | $2.43 | $30,603 | $71,750 | 7.5 years |
| 20 kW | $2.38 | $33,264 | $80,461 | 7.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which company you should choose, since different companies have different panels.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Waveland, MS Solar Cost FAQs
What is the average cost of installing solar panels in Waveland?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Waveland?
Leasing solar panels can be an appealing choice, as it usually 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 maximize your savings.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,137.25 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.