Solar Panel Cost Guide in Mount Holly, NC (Sep 2022)

  • Mount Holly Solar Installation Cost: $12,108
  • 25-Year Savings: $19,052
  • Payback Period: 9.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Mount Holly

Find out what the average cost of a solar system is in Mount Holly.

The national average cost of solar panels is $2.66 per watt, but in Mount Holly it's $3 per watt. The average Mount Holly homeowner needs a 6.8-kilowatt system, which would cost about $12,108, or $8,960 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Mount Holly homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on electricity bills.

Click the button below to get connected to a top solar company in your area for a personalized estimate.

Solar savings over time in Mount Holly

Year Return on Investment
1 years $-10,862
3 years $-8,369
5 years $-5,876
7 years $-3,383
9 years $-891
11 years $1,602
13 years $4,095
15 years $6,588
17 years $9,081
19 years $11,573
21 years $14,066
23 years $16,559
25 years $19,052

Top Solar Installers in Mount Holly

When switching to solar energy, many homeowners opt to go with a solar installer since installing solar panels yourself can be a time-consuming project. The expertise that solar installers provide can be helpful as well, particularly if you don't quite know what kind of solar equipment would be right for your home.

Working with a licensed solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Mount Holly

Factors that Affect Solar Panel Costs in Mount Holly

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Mount Holly: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment Size

The size of the system you need is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

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 allow you to pay for your system over a term of, on average, between five and seven years. Even though solar loans make adopting solar energy more accessible for Mount Holly homeowners, they can also raise 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 solar panel installer you choose will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies keep up with 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 $16,352 10.1 years
8 kW $2.59 $14,508 $22,088 9.9 years
10 kW $2.54 $17,780 $27,965 9.7 years
12 kW $2.49 $20,909 $33,985 9.5 years
14 kW $2.44 $23,896 $40,147 9.3 years
16 kW $2.39 $26,741 $46,451 9.1 years
18 kW $2.34 $29,444 $52,898 8.9 years
20 kW $2.29 $32,004 $59,487 8.7 years

Solar Incentives in Mount Holly

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Duke Energy - NC Solar Rebate Program
Incentive Amount Residential: $0.60/W-AC
Nonresidential: $0.50/W-AC
Nonprofit: $0.75/W-AC
Incentive Max Residential: $6,000
Nonresidential: $50,000
Nonprofit: $75,000
Website Visit here
More Info Click here

Name Local Option - Financing Program for Renewable Energy and Energy Efficiency
More Info Click here

Name PSNC Energy (Gas) - Green Building Rate Discount
Incentive Amount discount/therm based on seasonal values
Website Visit here
More Info Click here

Name Property Tax Abatement for Solar Electric Systems
Incentive Amount Residential systems: 100% of the appraised value
All other systems: 80% of the appraised value
More Info Click here

Name Local Option - Green Building Incentives
More Info Click here

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Contract: Before signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
  • 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 good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
  • Warranty: If you're concerned about the durability of your solar system, verifying your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Mount Holly, NC Solar Cost FAQs

How much does it cost to install solar panels in Mount Holly?

The average cost of solar panels in Mount Holly is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider apart from cost when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can you sell solar power back to the grid in Mount Holly?

The majority of states have net metering programs of some kind. Through these, you can be compensated 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 long do solar panels last in Mount Holly?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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