Solar Panel Cost Guide in Holly Springs, MS (2024 Update)
- Holly Springs Solar Installation Cost: $19,146
- 25-Year Savings: $23,248
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Holly Springs
Find out what the average cost of installing solar panels is in Holly Springs.
The national average cost of solar panels is $2.66 per watt, but in Holly Springs it’s 3 per watt.Since a 8.7-kW system is needed to cover the energy usage of a typical home in Holly Springs, the average price of going solar will be about $19,146 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Holly Springs homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the significant initial cost, the average Holly Springs homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a free 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 | $-17,691 |
| 3 years | $-14,780 |
| 5 years | $-11,870 |
| 7 years | $-8,960 |
| 9 years | $-6,049 |
| 11 years | $-3,139 |
| 13 years | $-228 |
| 15 years | $2,682 |
| 17 years | $5,592 |
| 19 years | $8,503 |
| 21 years | $11,413 |
| 23 years | $14,323 |
| 25 years | $17,234 |
Top Solar Installers in Holly Springs
Many homeowners opt for a solar panel installer since figuring out how to install solar panels by yourself can be hard. Solar warranties and repairs are usually included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
If you're searching for a solar company in Holly Springs, we've put together a list of our top suggestions here:
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
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
For many Holly Springs homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Holly Springs, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Holly Springs, one of the most crucial 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 energy bills. Your overall cost can increase by around $3,140 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond 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 researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Holly Springs, you’ll have a great number of options to choose from, but each comes at varying price points for labor and 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 go with the company that provides the products, warranties and services you’re looking for and also is 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 | $3.27 | $13,716 | $13,386 | 12.7 years |
| 8 kW | $3.20 | $17,936 | $18,200 | 12.4 years |
| 10 kW | $3.14 | $21,980 | $23,189 | 12.2 years |
| 12 kW | $3.08 | $25,848 | $28,355 | 11.9 years |
| 14 kW | $3.01 | $29,541 | $33,696 | 11.7 years |
| 16 kW | $2.95 | $33,058 | $39,213 | 11.4 years |
| 18 kW | $2.89 | $36,399 | $44,906 | 11.2 years |
| 20 kW | $2.83 | $39,564 | $50,774 | 10.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: When reading through 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.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
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
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
What is the average cost of installing solar panels in Holly Springs?
The average cost of solar panels in Holly Springs is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Holly Springs?
You can’t get solar panels for free in Holly Springs. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Holly Springs is currently $123,339, so you can look forward to a value of about $5,057 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Holly Springs is a worthwhile investment.
How long do solar panels last in Holly Springs?
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 higher 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.