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
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Average Cost of Solar Panels in Holt
See how much it might cost to switch to solar power in Holt.
In Holt, solar panels cost about 4 per watt on average.Because a 6.2-kW system is needed to cover the energy usage of a typical home in Holt, the average price of going solar will be about $17,543 after claiming the federal solar tax credit of 0.
These figures are just estimates, and the cost of going solar for you will most likely look different based on your energy needs and what company you want to go with.With average savings of about $20,000 on electricity bills over 20 years, many homeowners in Holt find installing solar panels can be quite rewarding.
You can click the button below to get connected with a pre-vetted solar installer in Holt for a quote 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
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. Some solar installers, particularly local ones, can help you make the most of incentives in Holt, optimizing your ROI.
There are various licensed solar professionals that can install solar panels for you. 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 usually 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 Holt: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Holt average.
Solar Financing Terms
Many homeowners find the average cost of solar in Holt to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Holt, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $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 considerably impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you’d like to install plays a part in which company you should go with, since different companies have access to different panels.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline rebates and warranties.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly 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?
The average cost of solar panels in Holt is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Holt, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact 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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.