Solar Panel Cost Guide in Florence, MS (2024 Update)
- Florence Solar Installation Cost: $18,366
- 25-Year Savings: $23,115
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Florence
Let’s have a look at the average cost of solar in Florence.
The average cost of a solar panel system in Florence is 3 per watt.To cover the typical energy needs of the average home in Florence, most homeowners require a 8.4-kilowatt system. Using the figure above, a solar installation costs about $18,366, or $26,263 before the federal solar tax credit of 0 is applied.
How much you pay can go higher or lower than the average in Florence based on several factors, such as the kind of solar panels you choose and the solar company you hire.With typical savings of about $18,000 on power bills over 20 years, many homeowners in Florence find installing solar panels has a decent ROI.
Click the button below to get connected to a reputable solar installer in your area for a personalized estimate.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-16,999 |
| 3 years | $-14,264 |
| 5 years | $-11,529 |
| 7 years | $-8,794 |
| 9 years | $-6,059 |
| 11 years | $-3,324 |
| 13 years | $-589 |
| 15 years | $2,146 |
| 17 years | $4,881 |
| 19 years | $7,615 |
| 21 years | $10,350 |
| 23 years | $13,085 |
| 25 years | $15,820 |
Top Solar Installers in Florence
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be a lot of work. Plus, if you’re not certain what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Florence
Factors that Affect Solar Panel Costs in Florence
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Florence: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, 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. There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient 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
Most solar installers in Florence offer solar loans, which reduce the initial cost of installing solar panels.Even though solar loans make going solar more accessible for Florence homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can affect how much you pay. Florence’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 undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $3.27 | $13,716 | $13,970 | 12.4 years |
| 8 kW | $3.20 | $17,936 | $18,979 | 12.1 years |
| 10 kW | $3.14 | $21,980 | $24,163 | 11.9 years |
| 12 kW | $3.08 | $25,848 | $29,523 | 11.7 years |
| 14 kW | $3.01 | $29,541 | $35,059 | 11.4 years |
| 16 kW | $2.95 | $33,058 | $40,771 | 11.2 years |
| 18 kW | $2.89 | $36,399 | $46,658 | 11.0 years |
| 20 kW | $2.83 | $39,564 | $52,722 | 10.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When making the switch to solar energy, it’s important to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project completion timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of 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 satisfied reviews from past customers.
- Warranty: If you care about the longevity of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Florence, MS Solar Cost FAQs
How much does it cost to install solar panels in Florence?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $15,700 for a 5-kW system and $31,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Florence?
You can’t get solar panels for free in Florence. 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.
Can you sell solar power back to the grid in Florence?
The majority of states have net metering programs of some kind. Through these, you can 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 Florence?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.