Solar Panel Cost Guide in Mount Holly, NC (2023 Update)
- Mount Holly Solar Installation Cost: $12,108
- 25-Year Savings: $19,052
- Payback Period: 9.7 Years
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Updated May 04, 2023
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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 2.54 per watt. The average Mount Holly homeowner needs a 6.8-kilowatt system, which would cost about $12,108 with the federal tax credit, or $17,314 before the 30% tax credit 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 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 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
Solar 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 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 |
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 that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 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.