Solar Panel Cost Guide in Holt, MI (2024 Update)
- Holt Solar Installation Cost: $17,543
- 25-Year Savings: $19,620
- Payback Period: 13.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Holt
See how much it might cost to switch to solar power in Holt.
Although the national average of solar panels is $2.66 per watt, solar panels in Holt generally cost around 4.The average Holt homeowner needs a 6.2-kilowatt system, which would cost about $17,543 with the federal tax credit, or $25,086 before the 0 tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you choose to go with.Even with the significant upfront cost, the average Holt homeowner can save about $20,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar installer in Holt that can help you get a more accurate cost estimate for your home.
Solar savings over time in Holt
| Year | Return on Investment |
|---|---|
| 1 years | $-16,289 |
| 3 years | $-13,782 |
| 5 years | $-11,274 |
| 7 years | $-8,767 |
| 9 years | $-6,259 |
| 11 years | $-3,752 |
| 13 years | $-1,245 |
| 15 years | $1,263 |
| 17 years | $3,770 |
| 19 years | $6,278 |
| 21 years | $8,785 |
| 23 years | $11,292 |
| 25 years | $13,800 |
Top Solar Installers in Holt
Although it's possible to install solar panels yourself, it requires extra effort and expertise. Because of that, the majority of homeowners choose to go with a solar panel installer. Another advantage of using a solar company is that they can help you optimize your investment by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Holt
Factors that Affect Solar Panel Costs in Holt
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Holt: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Holt provide solar loans, which reduce the initial cost of installing solar.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Holt is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that provide a range of services at different price points.Additionally, some companies in Holt know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $13,139 | 14.4 years |
| 8 kW | $4.14 | $23,191 | $17,973 | 14.1 years |
| 10 kW | $4.06 | $28,420 | $23,035 | 13.8 years |
| 12 kW | $3.98 | $33,422 | $28,324 | 13.5 years |
| 14 kW | $3.90 | $38,196 | $33,840 | 13.3 years |
| 16 kW | $3.82 | $42,744 | $39,584 | 13.0 years |
| 18 kW | $3.74 | $47,064 | $45,555 | 12.7 years |
| 20 kW | $3.65 | $51,156 | $51,754 | 12.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
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 Holt, MI Solar Cost FAQs
What is the average cost of installing solar panels in Holt?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Holt, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.