Solar Panel Cost Guide in Richland, MS (2024 Update)
- Richland Solar Installation Cost: $18,366
- 25-Year Savings: $22,514
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Richland
See how much it might cost to go solar in Richland.
The national average cost of solar panels is $2.66 per watt, but in Richland it’s 3 per watt.Because a 8.4-kW system is needed to cover the energy needs of a typical home in Richland, the average price of going solar will be about $18,366 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.With typical savings of about $17,000 on power bills over 20 years, many homeowners in Richland find installing solar panels can be quite rewarding.
To get a free quote from a highly rated solar installer in Richland, you can click the button below.
Solar savings over time in Richland
| 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 Richland
Many homeowners decide to hire a solar installer since figuring out how to install solar panels yourself can be a labor-intensive endeavor. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you're looking for a solar company in Richland, we've 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 Richland
Factors that Affect Solar Panel Costs in Richland
Even though the average cost of a solar system in Richland is $18,366, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,140.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Richland average.
Solar Financing Terms
Most solar companies in Richland provide solar loans, which reduce your upfront costs of installing solar panels.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Richland, and each can charge different amounts for labor and equipment.Additionally, some companies in Richland know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $13,539 | 12.6 years |
| 8 kW | $3.20 | $17,936 | $18,404 | 12.3 years |
| 10 kW | $3.14 | $21,980 | $23,444 | 12.1 years |
| 12 kW | $3.08 | $25,848 | $28,661 | 11.9 years |
| 14 kW | $3.01 | $29,541 | $34,053 | 11.6 years |
| 16 kW | $2.95 | $33,058 | $39,621 | 11.4 years |
| 18 kW | $2.89 | $36,399 | $45,365 | 11.1 years |
| 20 kW | $2.83 | $39,564 | $51,285 | 10.9 years |
How to Save on Solar Panels
There are numerous companies to choose from in Richland, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
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 Richland, MS Solar Cost FAQs
What is the average cost of installing solar panels in Richland?
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 extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Richland?
You can’t get solar panels for free in Richland. However, you may still be able to install 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 Richland?
Most 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 energy 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?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.