Solar Panel Cost Guide in Holly, MI (2024 Update)
- Holly Solar Installation Cost: $17,556
- 25-Year Savings: $16,364
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Holly
We go over average solar pricing in Holly.
The average cost of solar panels in Holly is 4 per watt.Using this figure, a typical 6.2-kW system would cost about $17,556 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Holly can save around $18,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Holly for a quote for your home.
Solar savings over time in Holly
| Year | Return on Investment |
|---|---|
| 1 years | $-16,302 |
| 3 years | $-13,795 |
| 5 years | $-11,287 |
| 7 years | $-8,780 |
| 9 years | $-6,272 |
| 11 years | $-3,765 |
| 13 years | $-1,258 |
| 15 years | $1,250 |
| 17 years | $3,757 |
| 19 years | $6,265 |
| 21 years | $8,772 |
| 23 years | $11,279 |
| 25 years | $13,787 |
Top Solar Installers in Holly
Installing solar panels yourself can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Another good thing about using a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Holly
Factors that Affect Solar Panel Costs in Holly
The cost of installing a solar system in Holly can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $4,060 per kilowatt in Holly.The brand of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Holly provide solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you pick will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $9,962 | 16.0 years |
| 8 kW | $4.14 | $23,191 | $13,738 | 15.7 years |
| 10 kW | $4.06 | $28,420 | $17,741 | 15.4 years |
| 12 kW | $3.98 | $33,422 | $21,971 | 15.1 years |
| 14 kW | $3.90 | $38,196 | $26,428 | 14.8 years |
| 16 kW | $3.82 | $42,744 | $31,113 | 14.5 years |
| 18 kW | $3.74 | $47,064 | $36,026 | 14.2 years |
| 20 kW | $3.65 | $51,156 | $41,165 | 13.9 years |
How to Save on Solar Panels
There are many companies to choose from in Holly, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
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
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Holly, MI Solar Cost FAQs
How much does it cost to install solar panels in Holly?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Holly?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $923.21 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.