Solar Panel Cost Guide in Corinth, MS (2024 Update)
- Corinth Solar Installation Cost: $19,209
- 25-Year Savings: $7,587
- Payback Period: 20.2 Years
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Average Cost of Solar Panels in Corinth
We go over average solar pricing in Corinth.
In Corinth, solar panels cost about 3 per watt on average.Using this figure, a typical 8.7-kW system would cost about $19,209 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.But, after you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $11,000 over 20 years on utility bills.
To receive a free estimate from a pre-vetted solar installer in Corinth, you can click the button below.
Solar savings over time in Corinth
| Year | Return on Investment |
|---|---|
| 1 years | $-17,613 |
| 3 years | $-14,422 |
| 5 years | $-11,230 |
| 7 years | $-8,039 |
| 9 years | $-4,848 |
| 11 years | $-1,656 |
| 13 years | $1,535 |
| 15 years | $4,727 |
| 17 years | $7,918 |
| 19 years | $11,110 |
| 21 years | $14,301 |
| 23 years | $17,492 |
| 25 years | $20,684 |
Top Solar Installers in Corinth
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels on your own can be challenging. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
If you're on the hunt for a solar company in Corinth, we've put together a list of our top suggestions here:
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 Corinth
Factors that Affect Solar Panel Costs in Corinth
While the average cost of a solar system in Corinth is $19,209, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater 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 $3,140.The model of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Corinth to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Corinth, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better 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 names.
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 | $2,581 | 21.0 years |
| 8 kW | $3.20 | $17,936 | $3,793 | 20.6 years |
| 10 kW | $3.14 | $21,980 | $5,181 | 20.2 years |
| 12 kW | $3.08 | $25,848 | $6,744 | 19.8 years |
| 14 kW | $3.01 | $29,541 | $8,484 | 19.4 years |
| 16 kW | $2.95 | $33,058 | $10,399 | 19.0 years |
| 18 kW | $2.89 | $36,399 | $12,491 | 18.6 years |
| 20 kW | $2.83 | $39,564 | $14,758 | 18.2 years |
How to Save on Solar Panels
There are numerous companies to choose from in Corinth, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
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 Corinth, MS Solar Cost FAQs
How much does it cost to install solar panels in Corinth?
The average cost of solar panels in Corinth is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Corinth?
You can’t get solar panels for free in Corinth. However, you may still be able to install 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.
Can you sell solar power back to the grid in Corinth?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out what solar panel system size 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 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.