Solar Panel Cost Guide in Holt, AL (2024 Update)
- Holt Solar Installation Cost: $21,928
- 25-Year Savings: $35,934
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Holt
Let’s have a look at the average cost of solar panels in Holt.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Holt, the typical cost of a solar system is 3 per watt.The average Holt homeowner needs a 9.0-kilowatt system, which would cost about $21,928 with the federal tax credit, or $31,357 before the 0 tax credit is applied.
The true cost of your system can be higher or lower than the average in Holt depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Holt can save about $22,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Holt
| Year | Return on Investment |
|---|---|
| 1 years | $-20,080 |
| 3 years | $-16,385 |
| 5 years | $-12,690 |
| 7 years | $-8,994 |
| 9 years | $-5,299 |
| 11 years | $-1,604 |
| 13 years | $2,091 |
| 15 years | $5,786 |
| 17 years | $9,481 |
| 19 years | $13,176 |
| 21 years | $16,872 |
| 23 years | $20,567 |
| 25 years | $24,262 |
Top Solar Installers in Holt
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar company can make your switch to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers near you:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Holt
Factors that Affect Solar Panel Costs in Holt
The cost of installing a solar system in Holt can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,490. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Holt, where sunlight is 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
Many homeowners find the average cost of solar in Holt to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, 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 | $3.63 | $15,244 | $19,067 | 11.1 years |
| 8 kW | $3.56 | $19,935 | $25,813 | 10.9 years |
| 10 kW | $3.49 | $24,430 | $32,755 | 10.7 years |
| 12 kW | $3.42 | $28,730 | $39,892 | 10.5 years |
| 14 kW | $3.35 | $32,834 | $47,225 | 10.3 years |
| 16 kW | $3.28 | $36,743 | $54,753 | 10.0 years |
| 18 kW | $3.21 | $40,456 | $62,477 | 9.8 years |
| 20 kW | $3.14 | $43,974 | $70,396 | 9.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Holt, AL Solar Cost FAQs
How much does it cost to install solar panels in Holt?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,450 for a 5-kW system and $34,900 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 usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Holt?
Leasing solar panels can be an appealing choice, because 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Holt?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Holt?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.