Solar Panel Cost Guide in Winona, MS (2023 Update)
- Winona Solar Installation Cost: $15,574
- 25-Year Savings: $23,037
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Winona
Let's take a look at the average cost of solar in Winona.
The national average cost of solar panels is $2.66 per watt, but in Winona it's 2.64 per watt. Because a 8.4-kW system is needed to cover the energy consumption of a typical home in Winona, the average price of going solar will be about $15,579 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Winona depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Despite the high initial cost, the average Winona homeowner can save around $17,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar company in Winona for a quote for your home.
Solar savings over time in Winona
| Year | Return on Investment |
|---|---|
| 1 years | $-14,207 |
| 3 years | $-11,472 |
| 5 years | $-8,737 |
| 7 years | $-6,002 |
| 9 years | $-3,267 |
| 11 years | $-532 |
| 13 years | $2,203 |
| 15 years | $4,937 |
| 17 years | $7,672 |
| 19 years | $10,407 |
| 21 years | $13,142 |
| 23 years | $15,877 |
| 25 years | $18,612 |
Top Solar Installers in Winona
Many homeowners decide to use a solar installer since figuring out how to install solar panels by yourself can be a lot of work. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Winona
Factors that Affect Solar Panel Costs in Winona
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Winona: 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 cost of solar panel systems varies by thousands of dollars due to a few 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 production 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. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Winona, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Winona to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Winona is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $15,958 | 10.5 years |
| 8 kW | $2.69 | $15,080 | $21,573 | 10.3 years |
| 10 kW | $2.64 | $18,480 | $27,335 | 10.1 years |
| 12 kW | $2.59 | $21,732 | $33,246 | 9.9 years |
| 14 kW | $2.53 | $24,837 | $39,304 | 9.7 years |
| 16 kW | $2.48 | $27,794 | $45,511 | 9.5 years |
| 18 kW | $2.43 | $30,603 | $51,865 | 9.3 years |
| 20 kW | $2.38 | $33,264 | $58,367 | 9.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Winona, MS Solar Cost FAQs
How much does it cost to install solar panels in Winona?
The average cost of solar panels in Winona 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 stuff like 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 Winona?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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 financial benefits from going solar.
Does Winona have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either receive compensation 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 long do solar panels last in Winona?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.