Solar Panel Cost Guide in Meridian, MS (2024 Update)
- Meridian Solar Installation Cost: $18,204
- 25-Year Savings: $31,858
- Payback Period: 9.6 Years
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Average Cost of Solar Panels in Meridian
Find out how much it might cost to switch to solar power in Meridian.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Meridian, the average cost of a solar system is 3 per watt.The average solar panel system size in Meridian is around 8.3 kilowatts, meaning a cost of about $18,204 for a solar installation, or $26,032 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Meridian depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $22,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar installer in Meridian for a customized quote.
Solar savings over time in Meridian
| Year | Return on Investment |
|---|---|
| 1 years | $-16,379 |
| 3 years | $-12,730 |
| 5 years | $-9,081 |
| 7 years | $-5,432 |
| 9 years | $-1,782 |
| 11 years | $1,867 |
| 13 years | $5,516 |
| 15 years | $9,165 |
| 17 years | $12,814 |
| 19 years | $16,463 |
| 21 years | $20,113 |
| 23 years | $23,762 |
| 25 years | $27,411 |
Top Solar Installers in Meridian
Many homeowners choose to use a solar installer since trying to put up solar panels yourself can be time-consuming. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy usage, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you're searching for a solar company in Meridian, the EcoWatch team has organized a list of our top suggestions here:
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 Meridian
Factors that Affect Solar Panel Costs in Meridian
The cost of installing a solar system in Meridian can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Meridian, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can influence how much it costs. Meridian’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $20,452 | 10.0 years |
| 8 kW | $3.20 | $17,936 | $27,621 | 9.8 years |
| 10 kW | $3.14 | $21,980 | $34,966 | 9.6 years |
| 12 kW | $3.08 | $25,848 | $42,487 | 9.5 years |
| 14 kW | $3.01 | $29,541 | $50,183 | 9.3 years |
| 16 kW | $2.95 | $33,058 | $58,056 | 9.1 years |
| 18 kW | $2.89 | $36,399 | $66,104 | 8.9 years |
| 20 kW | $2.83 | $39,564 | $74,328 | 8.7 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar installer, make sure to read it through 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 component breaks or malfunctions and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
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 Meridian, MS Solar Cost FAQs
What is the average cost of installing solar panels in Meridian?
The average cost of solar panels in Meridian 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Meridian?
Solar panels aren’t free in Meridian, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,138.92 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 buy between 20 and 35 panels to account for 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.