Solar Panel Cost Guide in Holly Springs, NC (2024 Update)
- Holly Springs Solar Installation Cost: $17,183
- 25-Year Savings: $17,334
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Holly Springs
We break down average solar pricing in Holly Springs.
The average cost of a solar system in Holly Springs is 4 per watt.To cover the typical energy needs of the average home in Holly Springs, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs about $17,183, or $24,572 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Holly Springs can save about $16,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar installer in Holly Springs that can help you get a more accurate cost estimate for your home.
Solar savings over time in Holly Springs
Year | Return on Investment |
---|---|
1 years | $-15,712 |
3 years | $-12,770 |
5 years | $-9,828 |
7 years | $-6,885 |
9 years | $-3,943 |
11 years | $-1,001 |
13 years | $1,941 |
15 years | $4,883 |
17 years | $7,825 |
19 years | $10,768 |
21 years | $13,710 |
23 years | $16,652 |
25 years | $19,594 |
Top Solar Installers in Holly Springs
Putting up solar panels by yourself can be a dangerous project, which is why getting a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Holly Springs
Factors that Affect Solar Panel Costs in Holly Springs
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Holly Springs: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar 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 crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Holly Springs, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Holly Springs is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.65 | $15,332 | $10,208 | 15.0 years |
8 kW | $3.58 | $20,049 | $14,003 | 14.7 years |
10 kW | $3.51 | $24,570 | $17,995 | 14.4 years |
12 kW | $3.44 | $28,894 | $22,184 | 14.1 years |
14 kW | $3.37 | $33,022 | $26,570 | 13.9 years |
16 kW | $3.30 | $36,953 | $31,151 | 13.6 years |
18 kW | $3.23 | $40,688 | $35,930 | 13.3 years |
20 kW | $3.16 | $44,226 | $40,905 | 13.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
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
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Holly Springs, NC Solar Cost FAQs
What is the average cost of installing solar panels in Holly Springs?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Holly Springs?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Holly Springs?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 cover 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.