Solar Panel Cost Guide in Holt, AL (2023 Update)
- Holt Solar Installation Cost: $15,401
- 25-Year Savings: $35,927
- Payback Period: 7.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Holt
Let's take a look at the average cost of solar 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 2.45 per watt. The average Holt homeowner needs a 9.0-kilowatt system, which would cost about $15,401 with the federal tax credit, or $22,023 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Holt homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Holt find installing solar panels can pay off big.
To receive a free estimate from a pre-vetted solar installation company in Holt, you can click the button below.
Solar savings over time in Holt
| Year | Return on Investment |
|---|---|
| 1 years | $-13,348 |
| 3 years | $-9,241 |
| 5 years | $-5,135 |
| 7 years | $-1,029 |
| 9 years | $3,077 |
| 11 years | $7,184 |
| 13 years | $11,290 |
| 15 years | $15,396 |
| 17 years | $19,502 |
| 19 years | $23,608 |
| 21 years | $27,715 |
| 23 years | $31,821 |
| 25 years | $35,927 |
Top Solar Installers in Holt
Installing solar panels by yourself can be a difficult undertaking, which is why hiring a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Though the average cost of a solar system in Holt is $15,401, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Holt, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $2,450 for each additional kilowatt you need. The type of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Holt, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Holt is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different costs. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $2.55 | $10,702 | $23,609 | 7.8 years |
| 8 kW | $2.50 | $13,994 | $31,754 | 7.6 years |
| 10 kW | $2.45 | $17,150 | $40,035 | 7.5 years |
| 12 kW | $2.40 | $20,168 | $48,454 | 7.3 years |
| 14 kW | $2.35 | $23,050 | $57,009 | 7.2 years |
| 16 kW | $2.30 | $25,794 | $65,702 | 7.0 years |
| 18 kW | $2.25 | $28,400 | $74,533 | 6.9 years |
| 20 kW | $2.21 | $30,870 | $83,500 | 6.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the 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 tips to keep in mind to help with your decision:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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
What is the average cost of installing solar panels in Holt?
The average cost of solar panels in Holt is about $12,250 for a 5-kW system and $24,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.