Solar Panel Cost Guide in Holt, MI (2023 Update)
- Holt Solar Installation Cost: $12,136
- 25-Year Savings: $19,625
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Holt
We break down average solar pricing in Holt.
While the national average of solar panels is $2.66 per watt, solar panels in Holt typically cost around 2.81. To account for the typical energy needs of the average home in Holt, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $12,136, or $17,354 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary based on multiple factors, such as what size system you need, your energy usage and what installation company you go with. For many homeowners, the upfront cost of solar is worth paying. On average Holt homeowners see about $20,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Holt
| Year | Return on Investment |
|---|---|
| 1 years | $-10,866 |
| 3 years | $-8,325 |
| 5 years | $-5,784 |
| 7 years | $-3,243 |
| 9 years | $-702 |
| 11 years | $1,839 |
| 13 years | $4,380 |
| 15 years | $6,921 |
| 17 years | $9,461 |
| 19 years | $12,002 |
| 21 years | $14,543 |
| 23 years | $17,084 |
| 25 years | $19,625 |
Top Solar Installers in Holt
Although it's possible to install solar panels by yourself, it involves extra time and knowledge. That's why most homeowners choose to go with a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you pick which one will be right for you.
If you're on the hunt for a solar installer in Holt, we've organized a list of our top suggestions here:
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
The cost of installing a solar system in Holt can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of 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 for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Holt, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can influence the cost. Holt's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you want and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.92 | $12,274 | $18,599 | 9.9 years |
| 8 kW | $2.87 | $16,051 | $25,113 | 9.7 years |
| 10 kW | $2.81 | $19,670 | $31,785 | 9.6 years |
| 12 kW | $2.75 | $23,132 | $38,614 | 9.4 years |
| 14 kW | $2.70 | $26,436 | $45,600 | 9.2 years |
| 16 kW | $2.64 | $29,584 | $52,744 | 9.0 years |
| 18 kW | $2.59 | $32,574 | $60,045 | 8.8 years |
| 20 kW | $2.53 | $35,406 | $67,504 | 8.6 years |
How to Save on Solar Panels
There are many companies to choose from in Holt, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: If you're worried about the longevity of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before you sign a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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
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 variety of factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 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 usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Holt?
A solar panel system isn't free in Holt, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,029.10 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 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.