Solar Panel Cost Guide in Holly Springs, NC (2024 Update)
- Holly Springs Solar Installation Cost: $17,183
- 25-Year Savings: $17,334
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Holly Springs
We break down average solar pricing in Holly Springs.
Although the national average of solar panels is $2.66 per watt, solar panels in Holly Springs typically cost around 4.To cover the typical energy needs of the average home in Holly Springs, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs about $17,183, or $24,572 before the federal solar tax credit of 0 is applied.
The true price you pay can go above or below the average in Holly Springs depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.With average savings of about $16,000 on utility bills over 20 years, many homeowners in Holly Springs find investing in solar has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Holly Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-15,712 |
| 3 years | $-12,770 |
| 5 years | $-9,828 |
| 7 years | $-6,885 |
| 9 years | $-3,943 |
| 11 years | $-1,001 |
| 13 years | $1,941 |
| 15 years | $4,883 |
| 17 years | $7,825 |
| 19 years | $10,768 |
| 21 years | $13,710 |
| 23 years | $16,652 |
| 25 years | $19,594 |
Top Solar Installers in Holly Springs
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 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 Springs
Factors that Affect Solar Panel Costs in Holly Springs
For many Holly Springs homeowners, the decision to install solar panels depends 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 a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Holly Springs, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $3,510 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Holly Springs, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Holly Springs have solar loans, which reduce your upfront costs of installing a solar system.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining 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 lots of options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fit into 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 | $3.65 | $15,332 | $10,208 | 15.0 years |
| 8 kW | $3.58 | $20,049 | $14,003 | 14.7 years |
| 10 kW | $3.51 | $24,570 | $17,995 | 14.4 years |
| 12 kW | $3.44 | $28,894 | $22,184 | 14.1 years |
| 14 kW | $3.37 | $33,022 | $26,570 | 13.9 years |
| 16 kW | $3.30 | $36,953 | $31,151 | 13.6 years |
| 18 kW | $3.23 | $40,688 | $35,930 | 13.3 years |
| 20 kW | $3.16 | $44,226 | $40,905 | 13.0 years |
How to Save on Solar Panels
There are many companies available in Holly Springs, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
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 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 Springs, NC Solar Cost FAQs
How much does it cost to install solar panels in Holly Springs?
The average cost of solar panels in Holly Springs 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 model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Holly Springs?
Leasing solar panels can be an appealing choice, because it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Does Holly Springs have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation 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 should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can 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 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.