Solar Panel Cost Guide in Fulton, MS (2024 Update)
- Fulton Solar Installation Cost: $19,096
- 25-Year Savings: $13,458
- Payback Period: 16.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Fulton
Let’s take a look at the average cost of solar panels in Fulton.
The average cost of a solar system in Fulton is 3 per watt.To cover the typical energy needs of the average home in Fulton, most homeowners require a 8.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $19,096, or $27,307 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Fulton homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Despite the large initial cost, the average Fulton homeowner can save about $14,000 on their power bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Fulton
| Year | Return on Investment |
|---|---|
| 1 years | $-19,096 |
| 3 years | $-19,096 |
| 5 years | $-19,096 |
| 7 years | $-19,096 |
| 9 years | $-19,096 |
| 11 years | $-19,096 |
| 13 years | $-19,096 |
| 15 years | $-19,096 |
| 17 years | $-19,096 |
| 19 years | $-19,096 |
| 21 years | $-19,096 |
| 23 years | $-19,096 |
| 25 years | $-19,096 |
Top Solar Installers in Fulton
Although it's possible to install solar panels by yourself, it involves extra effort and expertise. For that reason, almost all homeowners choose a solar panel installer. Another great thing about choosing a vetted solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
Working with a licensed solar installer can help your solar project go smoothly. 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 Fulton
Factors that Affect Solar Panel Costs in Fulton
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Fulton: 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 cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have 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.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Fulton, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Fulton, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $6,667 | 16.8 years |
| 8 kW | $3.20 | $17,936 | $9,240 | 16.5 years |
| 10 kW | $3.14 | $21,980 | $11,990 | 16.2 years |
| 12 kW | $3.08 | $25,848 | $14,916 | 15.9 years |
| 14 kW | $3.01 | $29,541 | $18,017 | 15.5 years |
| 16 kW | $2.95 | $33,058 | $21,294 | 15.2 years |
| 18 kW | $2.89 | $36,399 | $24,747 | 14.9 years |
| 20 kW | $2.83 | $39,564 | $28,376 | 14.6 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on 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: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Fulton, MS Solar Cost FAQs
What is the average cost of installing solar panels in Fulton?
This is a difficult 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Fulton?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is going solar worth it?
Solar panels can be a good investment for many 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 fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.