Summary of Mississippi solar incentives 2020
Another year, another new decade, but legislators in Jackson haven’t really done anything of note to help promote adoption of home solar here. However, since there's quite a bit of sunshine hitting the state, solar panels can still be a compelling addition to your home. Read on to learn more about your potential savings with home solar in Mississippi.
On this page, you can:
-
Learn what solar incentives are available to Mississippi homeowners
-
See what Mississippi solar incentives you qualify for based on your utility company and city
-
Find out how much these incentives and/or Mississippi solar tax credits will reduce your cost to go solar and add batteries
Federal solar investment tax credit
The federal solar investment tax credit will have the biggest impact on the cost you will face to go solar in Mississippi
This perk is commonly known as the ITC, short for “Investment Tax Credit”. If you install your photovoltaic system in 2020, the federal tax credit is 26% of the cost of your solar panel system. This is 26% off the entire cost of the system including equipment, labor and permitting.
Example: If your solar energy system costs $20,000, your federal solar tax credit would be $20,000 x 26% = $5,200.
The federal tax credit falls to 22% in 2021. Unless new legislation is introduced in Washington D.C., this program will be gone in 2022.
Net energy metering in Mississippi
With net metering in some states, you get full retail rate credit for the amount of electricity you send back into the grid with your solar panels.
Net Metering requires your utility to monitor how much energy your solar power system produces and how much energy you actually consume, and make sure you get credit for the surplus.
Mississippi is one of only six states in the nation without statewide net metering standards in place. Net metering remains completely at the discretion of the utility companies. That’s a raw deal for Mississippi homeowners, unless you happen to live in the TVA service area, it might be difficult to figure out how your panels will affect your electricity bill.
Here’s how Mississippi Power refers to its net metering policy: "the rate paid for electricity placed on the grid by a net metered customer is 2.5 cents/kWh above the company's avoided-cost rate” which “currently ranges from 2.29 to 3.62 cents/kWh.” (at the time of this writing; late 2020).
Every 15 minutes, Mississippi Power will determine how much solar energy your system sent to the grid and credit you about 5.5 cents/kWh for it. They’ll happily charge you an average of 7.5 cents/kWh for energy you buy from them when the sun isn’t shining.
Mississippi solar rebates
While Mississippi does not have a dedicated state rebate for solar panel installation, some manufacturers like LG offer their own solar rebates. These programs are usually time sensitive. For example, LG offers a $600 solar rebate on their equipment, which your installer can help you redeem over the next year.
Cost of solar panels in your part of Mississippi after all applicable solar incentives
Showing data for:
Change
Prices based on a 11.4kW system, after 26% federal tax credit
Solar prices near you
Payback period
10.7-13.1 years
Net profit (savings less system cost)
$32,779-$40,063
Average size system installed in MS in 2020
11.4kW
Solar panel cost calculator
Best 10 solar companies in Mississippi
4 solar companies in Mississippi provide pricing on SolarReviews. Here are the best rated companies near you.
4.53 129 Reviews
Latest review
Les Peterson, 2 weeks ago
Sunpro Solar was my choice because of their warrantees of the panels, inverters, and installation. They also price matched the competition which had a much less warrantee. They took care of all the details with installation, inspections and start up with Public Service Company of New Mexico.
Read more
Latest review
Les Peterson, 2 weeks ago
Sunpro Solar was my choice because of their warrantees of the panels, inverters, and installation. They also price matched the competition which had a much less warrantee. They took care of all the details with installation, inspections and start up with Public Service Company of New Mexico.
4.05 12 Reviews
Latest review
Jackson, over 1 month
Solar Alternatives is a great group to work with. Everyone I came into contact with was helpful and they did a great job. Very happy with the work they did and have been very happy with the savings on the monthly bills as well.
Read more
Latest review
Jackson, over 1 month
Solar Alternatives is a great group to work with. Everyone I came into contact with was helpful and they did a great job. Very happy with the work they did and have been very happy with the savings on the monthly bills as well.
3.75 1 Reviews
Latest review
Anonymous, over 1 month
Great company, very knowledgeable, and professional.
Read more
Latest review
Anonymous, over 1 month
Great company, very knowledgeable, and professional.
3.75 1 Reviews
Latest review
Anonymous, over 1 month
JR Cromer was the on-site supervisor when my initial 8kW solar array was installed in 2014, so it was only natural to again let him do the installation when this system was expanded to 12 kW in 2017. Everything went smoothly and I received a high quality product at a great price both times.
Read more
Latest review
Anonymous, over 1 month
JR Cromer was the on-site supervisor when my initial 8kW solar array was installed in 2014, so it was only natural to again let him do the installation when this system was expanded to 12 kW in 2017. Everything went smoothly and I received a high quality product at a great price both times.
Useful links
Related solar news
Catherine Lane
November 24, 2020
New affordable sonnenCore battery gives Tesla a run for its money
The new - and affordable - sonnenCore battery looks like it will be a main competitor to the Tesla Powerwall. While substantially cheaper than other sonnen batteries, it doesn't skimp on impressive features.
Ana Almerini
November 20, 2020
Tesla Cybertruck: what you need to know about the much-anticipated electric pickup
Should you preorder the Tesla Cybertruck? The all-electric, futuristic-looking pickup truck is loaded with innovative features, including self-parking and a bulletproof exterior.
Catherine Lane
November 19, 2020
5 best smart thermostats of 2020
A rundown of the 5 best smart thermostats of 2020 and how to choose the right one for your home, including prices, features, compatibility, and more.
Chris Gennone
November 18, 2020
Standing seam metal roof: pros, cons, and cost
A breakdown of standing seam metal roofs, their types, and their pros, cons, and cost. Find out if a standing seam metal roof is right for your home today.
Dan Hahn
November 14, 2020
Everything you need to know about solar tubes
Explaining how solar tubes work, pros and cons, cost, usefulness compared to skylights, and the best models available on the market.