Mississippi residents face high electricity bills due to the state’s extreme heat and humidity. Despite a 5% decrease from the previous year, the average monthly bill in June 2023 was $167, one of the highest in the nation. The hot weather makes it challenging to give the air conditioner a break, but what if you could harness the power of the sun to cool your home?
By installing household solar panels, you can reduce or even eliminate your utility bills and protect yourself from the volatile energy market. After the payback period for your solar system ends, you could save thousands on your energy bills. The cost of solar has decreased by 52% over the last decade, with incentives available to further reduce the price. The federal solar tax credit allows any US resident to claim a 30% rebate on clean energy additions to their homes.
In Mississippi, there are limited options for solar panel companies, both national and local. Tesla Solar offers affordable options, while Mississippi Solar has been serving customers since 2009. Evaluating companies based on reputation, product offerings, services, and warranties is essential when choosing the best one for your needs.
The average cost of a solar panel system in Mississippi is $31,400 for a 10kW system before tax credits and incentives. Taking advantage of the federal solar tax credit and net metering policies can help offset these costs. While Mississippi lacks strong state-level solar incentives, residents can benefit from the federal tax credit and potentially gain credits toward their electricity bills by sending excess energy back to the grid.
When considering solar financing options, cash purchases, solar loans, and other financing options are available. It’s crucial to evaluate your homeowner’s insurance coverage, location of your home, HOA restrictions, roof condition, and installation process before deciding on solar panel installation. By obtaining multiple estimates and comparing warranties, you can make an informed decision on the best solar company for your needs.