Solar Panels in Mississippi: Cost, Savings, and Rebates

Solar Panels in Mississippi

Solar Panels in Mississippi: Cost, Savings, and Rebates

Mississippi has plans to build nearly 2,500MW of solar in the next five years, increasing its solar energy production by 500%. While this sounds like an incredible number, it actually represents a total lack of renewable sources in the Magnolia State. But with intended growth, now might be the right time for homeowners to start considering solar panels in Mississippi.

Time is critical, and you’ll need to start putting together a budget. With a variety of good aspects in the state, residents of Mississippi can find solar panels for an affordable price. Keep reading for average costs, savings, and more.

Average Cost of Solar Panels in Mississippi

It might come as a surprise to homeowners in the Magnolia State that solar panels in Mississippi are affordable. The average cost of equipment runs at about $2.64, which sits somewhere in the middle across the country. Mississippians considering a typical, 6kW system can expect to budget about $15,840. That price includes panels, labor, and sales tax.

To really know how valuable that is, we need to compare it to the average cost of power. While residents of the Magnolia State pay some of the lowest rates in the country, their incredibly high electricity usage means they end up paying around $133.05 a month. This is much higher than utility bills in the United States, making solar a good option for saving money in the long run.

However, if budget is a priority, it’s essential to know that qualifying homeowners can take advantage of a 30% solar tax credit from the federal government. This program returns a considerable portion of installation costs in the form of a tax return. Those applying for this credit can see the total cost of a 6kW system drop from $15,840 to $11,088.

How Much Solar Do Mississippians Need?

Of course, the number above only represents the average cost of solar panels in Mississippi, and may not reflect the total amount of power you need. To determine the appropriate size system for your home, you’ll need to divide your daily electricity requirement by the typical peak sun hours in your nearby city. We’ll use the standard numbers for Mississippi to show how this is done.

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Mississippi gets about 2,720 hours of sunlight a year.

Residents of the Magnolia State use, on average, 38.2kWh a day (1,146kWh a month). We’ll take that number and divide it by 4.44 hours, the typical amount of direct sun that Mississippi receives across the state.

When we do this, we discover that a solar panel system needs to produce 8.6kW an hour, quite a bit more than the standard array. This size system would cost Mississippians $22,704 before incentives.

Now that you know how to find the right size array for your home, you can accurately budget for an installation. The number varies based on your power usage and average sunlight. For the peak sun hours in your nearest town, you can check this sun chart for the Magnolia State.

Mississippi Solar Cost Factors

As shown in the above example, peak sun has a critical effect on the cost of solar panels in Mississippi. Even in the Magnolia state, direct sunlight changes depending on location. For example, Jackson receives as much as 5.1 hours — over 30 more minutes a day. To see how geography alters sunlight and solar costs, compare Mississippi to the equipment rates of its neighbors:

In a state where electricity usage is at the top of the list, choosing the right type of solar panels makes a noticeable difference in cost. Because Mississippi receives great sunlight, some homeowners could save money using polycrystalline equipment. However, due to the high power demand, some residents might need more efficient monocrystalline equipment to fit it all on their roofs.

When equipment quality has such an influence on total costs, you want to make sure that your installer is going to take care of you. While you might feel tempted to go with an affordable quote, you want to take time to screen each company for credibility.

In Mississippi, five installation companies handle all solar projects. While this makes your job quick, you have limited options and you might even have to look outside the state for quality.

Best Solar Installers in Mississippi

When recommending installation companies for solar panels in Mississippi, we follow a set of pre-screening factors that are used by the U.S. Department of Energy and the Solar Energy Industries Association. To ensure that you receive the best service, it’s critical to confirm that the solar installer has:

  • Years of industry experience
  • Quality equipment
  • Contractor transparency
  • Warranty longevity
  • Industry-standard certifications

Here are our top choices for homeowners in the Magnolia State.

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Mississippi is one of only four states to not have adopted a statewide policy on net metering.

Usually, we try to prioritize local installers for their regional knowledge and in-house technicians; however, with a lacking industry, your best bet is to work with SunPower. Although they’re a national company, they’re the most consistent. SunPower uses high-quality equipment covered by 25-year warranties. While more expensive than other installers, this company covers every base.

If you’re dead set on using a local company, Mississippi Solar, LLC is the veteran installer in the Magnolia State. They have 15 years of experience in the industry and work with top-tier equipment such as REC and Enphase.

The company also offers competitive rates, which helps with the cost in Mississippi. However, they manage to lower their rates because they do not have a labor warranty. We highly recommend using an installer with warranties, especially in a state that is prone to hurricanes.

Can Solar Energy Save Mississippians Money?

With affordable rates on equipment and great sunlight, homeowners have the potential to save thousands with solar panels in Mississippi. Of course, as we’ve shown above, the price factors can increase the overall installation cost in the Magnolia state. However, returns on utilities still exist. Let’s see what these savings could look like.

To determine total savings, we’ll need to find out how long it could take Mississippians to pay off a system. The average yearly electricity bill in the Magnolia State is around $1,596.60. If homeowners use this offset to cover the cost of a 6kW system, they could pay it off in 9.9 years. This is about average across the country.

When the solar panel system is paid off, all that utility offset comes back as a net return. Considering the 20-25 year average life expectancy of an array in Mississippi, potential savings could reach as much as $16,126 to $24,109. Most homeowners in the U.S. hardly see this much in return, and there’s even more to earn with federal and state incentives.

Solar Panels in Mississippi: Rebates, Credits, and Incentives

Due to the high energy demand in Mississippi, residents of the state will likely pay more for a solar panel system. Unfortunately, the Magnolia state falls behind in renewable energy support. Still, there’s money to save on solar panels in Mississippi if you know where to look.

First off, residents should take advantage of the federal solar tax credit. Offering 30% back on all installation costs, Mississippians could save nearly $5,000, and even more for a larger system.

And while the state has virtually no incentives as far as government regulations go, some municipalities are starting to take matters into their own hands. Read this incentive guide to learn where Mississippi solar benefits come from.

Solar Panels in Mississippi: Further Reading

With proper energy maintenance, homeowners could save up to $24,000 or more with solar panels in Mississippi. While the Magnolia State hasn’t made progress toward sustainable energy infrastructure, there are ways to make an installation more affordable. For other technology standards in Mississippi, check out these articles below.

Frequently Asked Questions

Is solar worth it in Mississippi?

Mississippi has average solar equipment costs and high electricity bills, making solar panels a worthwhile option. Homeowners making the switch could save over $24,000 with an array.

How much does solar cost in Mississippi?

In Mississippi, homeowners can expect to spend about $2.64 per watt of solar energy. This equals about $15,840 for a 6kW system.

How long does it take for solar panels to pay back in Mississippi?

Mississippians could pay off a 6kW system in 9.9 years with a utility bill offset of $1,596.60 a year.

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