Solar Panel Cost Guide in Booneville, MS (2024 Update)
- Booneville Solar Installation Cost: $19,123
- 25-Year Savings: $15,139
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Booneville
We go over average solar pricing in Booneville.
Although the national average of solar panels is $2.66 per watt, solar panels in Booneville generally cost about 3.Using this figure, a typical 8.7-kW system would cost about $19,123 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more.Despite the significant initial cost, the average Booneville homeowner can save about $14,000 on their power bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Booneville
| Year | Return on Investment |
|---|---|
| 1 years | $-17,528 |
| 3 years | $-14,336 |
| 5 years | $-11,145 |
| 7 years | $-7,953 |
| 9 years | $-4,762 |
| 11 years | $-1,571 |
| 13 years | $1,621 |
| 15 years | $4,812 |
| 17 years | $8,004 |
| 19 years | $11,195 |
| 21 years | $14,387 |
| 23 years | $17,578 |
| 25 years | $20,769 |
Top Solar Installers in Booneville
Putting up solar panels on your own can be a stressful project, which is why getting a solar installer is a good option for many homeowners. Some solar installers, especially local ones, can help you make the most of incentives in Booneville, therefore optimizing your ROI.
If you're looking for a solar installer in Booneville, the EcoWatch team has organized 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 Booneville
Factors that Affect Solar Panel Costs in Booneville
Although the average cost of a solar system in Booneville is $19,123, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 $3,140.There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install 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
If paying for solar panels out of pocket is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to add 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 off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating in Booneville, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $7,813 | 15.9 years |
| 8 kW | $3.20 | $17,936 | $10,769 | 15.6 years |
| 10 kW | $3.14 | $21,980 | $13,900 | 15.3 years |
| 12 kW | $3.08 | $25,848 | $17,208 | 15.0 years |
| 14 kW | $3.01 | $29,541 | $20,691 | 14.7 years |
| 16 kW | $2.95 | $33,058 | $24,351 | 14.4 years |
| 18 kW | $2.89 | $36,399 | $28,186 | 14.1 years |
| 20 kW | $2.83 | $39,564 | $32,197 | 13.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
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 Booneville, MS Solar Cost FAQs
What is the average cost of installing solar panels in Booneville?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $15,700 for a 5-kW system and $31,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Booneville?
You can’t get solar panels for free in Booneville. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Booneville?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably 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 needs and the amount of sunlight your roof gets. You can 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.