Solar Panel Cost Guide in Holly Ridge, NC (2023 Update)
- Holly Ridge Solar Installation Cost: $11,821
- 25-Year Savings: $21,874
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Holly Ridge
Let's have a look at the average cost of solar in Holly Ridge.
Although the national average of solar panels is $2.66 per watt, solar panels in Holly Ridge generally cost about 2.54. Using this figure, a typical 6.7-kW system would cost about $11,824 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar system you want, your solar contractor and more. With typical savings of about $19,000 on electricity bills over 20 years, many homeowners in Holly Ridge find going solar has a decent ROI.
Click the button below to get connected to a vetted solar panel company in Holly Ridge for a personalized estimate.
Solar savings over time in Holly Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,350 |
| 3 years | $-7,408 |
| 5 years | $-4,465 |
| 7 years | $-1,523 |
| 9 years | $1,419 |
| 11 years | $4,361 |
| 13 years | $7,303 |
| 15 years | $10,245 |
| 17 years | $13,188 |
| 19 years | $16,130 |
| 21 years | $19,072 |
| 23 years | $22,014 |
| 25 years | $24,956 |
Top Solar Installers in Holly Ridge
Installing solar panels by yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Holly Ridge
Factors that Affect Solar Panel Costs in Holly Ridge
The cost of installing a solar system in Holly Ridge can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,540. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Holly Ridge average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Holly Ridge is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets. Companies that 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 at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you want 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 | $2.64 | $11,095 | $19,314 | 9.1 years |
| 8 kW | $2.59 | $14,508 | $26,036 | 8.9 years |
| 10 kW | $2.54 | $17,780 | $32,901 | 8.8 years |
| 12 kW | $2.49 | $20,909 | $39,908 | 8.6 years |
| 14 kW | $2.44 | $23,896 | $47,057 | 8.4 years |
| 16 kW | $2.39 | $26,741 | $54,348 | 8.2 years |
| 18 kW | $2.34 | $29,444 | $61,782 | 8.1 years |
| 20 kW | $2.29 | $32,004 | $69,358 | 7.9 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Holly Ridge, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: The type of solar panel you'd like to get plays a role in which installer you should go with, since different companies have different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
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 $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like 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 appealing choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How will solar panels impact how much my home is worth?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 account for 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.