Solar Panel Cost Guide in Holly Springs, MS (2023 Update)
- Holly Springs Solar Installation Cost: $16,097
- 25-Year Savings: $23,248
- Payback Period: 10.2 Years
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Updated September 15, 2023
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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 panel system in Holly Springs is 2.64 per watt. To cover the typical energy needs of the average home in Holly Springs, most homeowners require a 8.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,096, or $23,017 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and how much solar costs for you may look different based on your energy needs and what company you want to go with. With average savings of about $17,000 on power bills over 20 years, many homeowners in Holly Springs find investing in solar can be quite rewarding.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Holly Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-14,642 |
| 3 years | $-11,732 |
| 5 years | $-8,821 |
| 7 years | $-5,911 |
| 9 years | $-3,000 |
| 11 years | $-90 |
| 13 years | $2,820 |
| 15 years | $5,731 |
| 17 years | $8,641 |
| 19 years | $11,551 |
| 21 years | $14,462 |
| 23 years | $17,372 |
| 25 years | $20,282 |
Top Solar Installers in Holly Springs
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using an installer can make your swap to solar power much easier. The expertise that solar installers provide can be valuable as well, especially if you aren't sure what kind of solar equipment you need.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Holly Springs
Factors that Affect Solar Panel Costs in Holly Springs
The cost of installing a solar system in Holly Springs can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,640 per kilowatt in Holly Springs. The solar equipment you choose can bring your price up or down 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. However, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Holly Springs average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. While solar loans make switching to solar energy more accessible for Holly Springs homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Holly Springs, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Holly Springs know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.75 | $11,532 | $15,570 | 10.6 years |
| 8 kW | $2.69 | $15,080 | $21,056 | 10.4 years |
| 10 kW | $2.64 | $18,480 | $26,689 | 10.2 years |
| 12 kW | $2.59 | $21,732 | $32,471 | 10.0 years |
| 14 kW | $2.53 | $24,837 | $38,400 | 9.8 years |
| 16 kW | $2.48 | $27,794 | $44,477 | 9.6 years |
| 18 kW | $2.43 | $30,603 | $50,702 | 9.4 years |
| 20 kW | $2.38 | $33,264 | $57,074 | 9.2 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Warranty: If you're concerned about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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 considerable role in the company you choose.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Holly Springs, MS Solar Cost FAQs
How much does it cost to install solar panels in Holly Springs?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,200 for a 5-kW system and $26,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Holly Springs?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future electricity 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 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 install 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.