Solar Panel Cost Guide in St. Martin, MS (2024 Update)
- St. Martin Solar Installation Cost: $17,701
- 25-Year Savings: $28,902
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in St. Martin
Here’s how much it might cost to switch to solar power in St. Martin.
The national average cost of solar panels is $2.66 per watt, but in St. Martin it’s 3 per watt.Using this figure, a typical 8.1-kW system would cost about $17,701 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what solar installer you go with.Despite the significant upfront cost, the average St. Martin homeowner can save about $21,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a top solar company in your area for a customized estimate.
Solar savings over time in St. Martin
| Year | Return on Investment |
|---|---|
| 1 years | $-15,873 |
| 3 years | $-12,217 |
| 5 years | $-8,561 |
| 7 years | $-4,905 |
| 9 years | $-1,249 |
| 11 years | $2,407 |
| 13 years | $6,064 |
| 15 years | $9,720 |
| 17 years | $13,376 |
| 19 years | $17,032 |
| 21 years | $20,688 |
| 23 years | $24,344 |
| 25 years | $28,000 |
Top Solar Installers in St. Martin
Although it's possible to install solar panels on your own, it takes extra effort and handiness. That's one of the reasons most homeowners choose to go with a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your home.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in St. Martin:
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 St. Martin
Factors that Affect Solar Panel Costs in St. Martin
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in St. Martin: 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
When it comes to estimating the price of a solar panel system in St. Martin, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by about $3,140 for each additional kilowatt you need.The brand and type of equipment you want for your solar system can raise or lower 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 limited roof space 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many St. Martin homeowners opt to finance their solar panel systems to make going solar more affordable.Although solar loans make going solar more accessible for St. Martin homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact the cost. St. Martin’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $18,905 | 10.5 years |
| 8 kW | $3.20 | $17,936 | $25,558 | 10.3 years |
| 10 kW | $3.14 | $21,980 | $32,388 | 10.1 years |
| 12 kW | $3.08 | $25,848 | $39,393 | 9.9 years |
| 14 kW | $3.01 | $29,541 | $46,574 | 9.7 years |
| 16 kW | $2.95 | $33,058 | $53,930 | 9.5 years |
| 18 kW | $2.89 | $36,399 | $61,463 | 9.3 years |
| 20 kW | $2.83 | $39,564 | $69,171 | 9.1 years |
How to Save on Solar Panels
There are a lot of companies to choose from in St. Martin, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you’re worried about the longevity of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 St. Martin, MS Solar Cost FAQs
How much does it cost to install solar panels in St. Martin?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in St. Martin?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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 bang for your buck from going solar.
How much can I save on power bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout St. Martin, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.