Solar Panel Cost Guide in Flowood, MS (2024 Update)
- Flowood Solar Installation Cost: $18,366
- 25-Year Savings: $22,461
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Flowood
We break down average solar pricing in Flowood.
In Flowood, solar panels cost about 3 per watt on average.Using this figure, a typical 8.4-kW system would cost about $18,366 before the 0 federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you may look different based on your specific situation and what company you choose to go with.With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Flowood find installing solar panels can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Flowood for a quote for your home.
Solar savings over time in Flowood
| 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 Flowood
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be best for your family.
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 nearby:
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 Flowood
Factors that Affect Solar Panel Costs in Flowood
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Flowood: 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
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,140 per kilowatt in Flowood.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Flowood average.
Solar Financing Terms
Most solar installers in Flowood have solar loans, which reduce your upfront costs of installing a solar system.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $3.27 | $13,716 | $13,501 | 12.6 years |
| 8 kW | $3.20 | $17,936 | $18,353 | 12.4 years |
| 10 kW | $3.14 | $21,980 | $23,380 | 12.1 years |
| 12 kW | $3.08 | $25,848 | $28,584 | 11.9 years |
| 14 kW | $3.01 | $29,541 | $33,963 | 11.6 years |
| 16 kW | $2.95 | $33,058 | $39,519 | 11.4 years |
| 18 kW | $2.89 | $36,399 | $45,250 | 11.1 years |
| 20 kW | $2.83 | $39,564 | $51,157 | 10.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
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 Flowood, MS Solar Cost FAQs
What is the average cost of installing solar panels in Flowood?
This is a hard question to answer precisely, because the cost depends on many 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 more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Flowood?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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.
How will having solar panels impact my property value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a 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.