Solar Panel Cost Guide in Holly Springs, NC (2023 Update)
- Holly Springs Solar Installation Cost: $12,435
- 25-Year Savings: $17,334
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Holly Springs
Find out what the average cost of solar panels are in Holly Springs.
While the national average of solar panels is $2.66 per watt, solar panels in Holly Springs typically cost about 2.54. Since a 7.0-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 $12,428 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what company you go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Holly Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-12,335 |
| 3 years | $-12,137 |
| 5 years | $-11,938 |
| 7 years | $-11,740 |
| 9 years | $-11,541 |
| 11 years | $-11,343 |
| 13 years | $-11,145 |
| 15 years | $-10,946 |
| 17 years | $-10,748 |
| 19 years | $-10,549 |
| 21 years | $-10,351 |
| 23 years | $-10,152 |
| 25 years | $-9,954 |
Top Solar Installers in Holly Springs
Although it's possible to install solar panels on your own, it takes extra time and knowledge. That's why most homeowners choose a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you're searching for a solar company in Holly Springs, we've compiled a list of our top suggestions here:
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 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 a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Holly Springs, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Holly Springs to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. Though solar loans make adopting solar energy more accessible for Holly Springs homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable 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. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $14,445 | 10.9 years |
| 8 kW | $2.59 | $14,508 | $19,544 | 10.7 years |
| 10 kW | $2.54 | $17,780 | $24,785 | 10.4 years |
| 12 kW | $2.49 | $20,909 | $30,169 | 10.2 years |
| 14 kW | $2.44 | $23,896 | $35,695 | 10.0 years |
| 16 kW | $2.39 | $26,741 | $41,364 | 9.8 years |
| 18 kW | $2.34 | $29,444 | $47,174 | 9.6 years |
| 20 kW | $2.29 | $32,004 | $53,127 | 9.4 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: The brand of solar panel you want plays a part in which company you should opt for, since different companies have different panels.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 $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 things like the kind 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 option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 bang for your buck from going solar.
How will installing solar panels impact the value of my home?
Solar panels can increase your home 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."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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.