Solar energy offers numerous benefits for homeowners in Mississippi. One of the significant advantages is the potential for long-term cost savings. By utilizing solar panels, homeowners can reduce their dependence on traditional energy sources and save money on monthly utility bills. Additionally, Mississippi receives abundant sunlight throughout the year, making it an ideal location for solar energy generation. By harnessing this renewable energy source, homeowners can significantly reduce their reliance on fossil fuels and contribute to a cleaner and greener environment for future generations.
Another advantage of solar energy for homeowners in Mississippi is the opportunity to take advantage of various financial incentives. The government offers a range of tax credits, rebates, and grants to encourage the adoption of solar technology. For instance, Mississippi offers a state tax credit for up to 25% of the installed cost of solar equipment. Homeowners may also qualify for federal tax credits, where they can receive up to 26% of the system's cost as a credit against federal income taxes. These incentives can help offset the initial investment of installing solar panels and shorten the payback period.
A peak sun hour is an hour in the day when the intensity of the sunlight reaches an average of 1000 watts/meter².
State Homes Powered by Solar
Growth Projection: 1,002 MW over the next 5 years
At the most basic level, solar panels are devices that take in the sun’s rays and convert them into electricity or heat. Once the sun hits the panels, the energy is made into electricity. A solar inverter helps turn the electricity into power that can be used. The more panels you have on a roof, the more solar electricity you can produce! Solar panels generate their own power and as a result can offset your monthly electricity bill, if not eliminate it in 97035.
There are 18 solar policies and incentives in the state of Mississippi. These incentives and tax credits help reduce the cost of solar panels in order to promote this source of renewable energy.
The National Renewable Energy Laboratory states that every dollar that is saved on energy through solar increases home value by $20 in Mississippi. More research shows that solar panels can add an average of $18,324 to the value of a medium-sized home.