Solar Panel Cost Guide in Grenada, MS (2024 Update)

  • Grenada Solar Installation Cost: $18,594
  • 25-Year Savings: $23,655
  • Payback Period: 11.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Grenada

See how much it might cost to go solar in Grenada.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Grenada, the typical cost of solar panels is 3 per watt.Since a 8.5-kW system is needed to cover the energy usage of a typical home in Grenada, the average price of going solar will be about $18,594 after claiming the federal solar tax credit of 0.

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 want to get, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Grenada can save about $18,000 on their electricity bills over 20 years.

For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Grenada

Year Return on Investment
1 years $-17,226
3 years $-14,491
5 years $-11,756
7 years $-9,022
9 years $-6,287
11 years $-3,552
13 years $-817
15 years $1,918
17 years $4,653
19 years $7,388
21 years $10,123
23 years $12,857
25 years $15,592

Top Solar Installers in Grenada

Trying to put up solar panels by yourself can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Another great thing about choosing a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.

If you're looking for a solar company in Grenada, we've put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Grenada

Factors that Affect Solar Panel Costs in Grenada

The cost of installing a solar system in Grenada can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

One of the most important 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 power your household uses, the larger your system will likely need to be. You can expect to pay about $3,140 per kilowatt in Grenada.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Grenada, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.Even though solar loans make switching to solar energy more accessible for Grenada homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The remaining key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Grenada, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Grenada are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.

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 $14,150 12.3 years
8 kW $3.20 $17,936 $19,218 12.1 years
10 kW $3.14 $21,980 $24,462 11.8 years
12 kW $3.08 $25,848 $29,882 11.6 years
14 kW $3.01 $29,541 $35,478 11.4 years
16 kW $2.95 $33,058 $41,250 11.1 years
18 kW $2.89 $36,399 $47,197 10.9 years
20 kW $2.83 $39,564 $53,320 10.6 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 pick the right company for you, here are some tips to keep in mind:

  • Contract: Although reading through a contract can take a lot of time, 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.
  • Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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 good reviews from past customers.
  • Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the completion timeline.
  • 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 large role in the company you hire.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Grenada, MS Solar Cost FAQs

What is the average cost of installing solar panels in Grenada?

The average cost of solar panels in Grenada is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider other than cost when buying solar panels?

Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can you sell solar power back to the grid in Grenada?

The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces 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 many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and the average daily 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.

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