Solar Panel Cost Guide in Holly Ridge, NC (2025 Update)
- Holly Ridge Solar Installation Cost: $16,335
- 25-Year Savings: $21,874
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Holly Ridge
Find out what the average cost of installing solar panels is in Holly Ridge.
The average cost of a solar system in Holly Ridge is 4 per watt.To cover the typical energy usage of the average home in Holly Ridge, most homeowners require a 6.6-kilowatt system. Using the figure above, a solar installation costs around $16,335, or $23,359 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of equipment you want to get, your solar contractor and more.For many homeowners, the upfront cost of solar is worth paying. On average Holly Ridge homeowners see about $19,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Holly Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-14,864 |
| 3 years | $-11,922 |
| 5 years | $-8,980 |
| 7 years | $-6,038 |
| 9 years | $-3,095 |
| 11 years | $-153 |
| 13 years | $2,789 |
| 15 years | $5,731 |
| 17 years | $8,673 |
| 19 years | $11,616 |
| 21 years | $14,558 |
| 23 years | $17,500 |
| 25 years | $20,442 |
Top Solar Installers in Holly Ridge
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make switching to solar power much easier. Another great thing about going with a reliable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you're searching for a solar company in Holly Ridge, we've put together a list of our top suggestions here:
See all of the solar companies in Holly Ridge
Factors that Affect Solar Panel Costs in Holly Ridge
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Holly Ridge: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 spend about $3,510 per kilowatt in Holly Ridge.The type of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about 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
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Holly Ridge, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, 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 getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Holly Ridge have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.65 | $15,332 | $15,077 | 12.6 years |
| 8 kW | $3.58 | $20,049 | $20,495 | 12.4 years |
| 10 kW | $3.51 | $24,570 | $26,111 | 12.1 years |
| 12 kW | $3.44 | $28,894 | $31,923 | 11.9 years |
| 14 kW | $3.37 | $33,022 | $37,931 | 11.6 years |
| 16 kW | $3.30 | $36,953 | $44,136 | 11.4 years |
| 18 kW | $3.23 | $40,688 | $50,537 | 11.2 years |
| 20 kW | $3.16 | $44,226 | $57,136 | 10.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose significantly affects 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:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- 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 significant role in the company you choose.
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
EcoWatch's Holly Ridge, NC Solar Cost FAQs
How much does it cost to install solar panels in Holly Ridge?
The average cost of solar panels in Holly Ridge is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Holly Ridge?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.