Solar Panel Cost Guide in Milliken, CO (2024 Update)
- Milliken Solar Installation Cost: $14,608
- 25-Year Savings: $16,888
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Milliken
Find out what the average cost of installing solar panels is in Milliken.
In Milliken, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Milliken, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $14,608, or $20,889 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Milliken homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a sound investment. The average homeowner in Milliken can save around $19,000 on their energy bills over 20 years.
Click the button below to get connected to a top solar company in your area for a custom estimate.
Solar savings over time in Milliken
| Year | Return on Investment |
|---|---|
| 1 years | $-13,640 |
| 3 years | $-11,704 |
| 5 years | $-9,768 |
| 7 years | $-7,831 |
| 9 years | $-5,895 |
| 11 years | $-3,959 |
| 13 years | $-2,023 |
| 15 years | $-87 |
| 17 years | $1,850 |
| 19 years | $3,786 |
| 21 years | $5,722 |
| 23 years | $7,658 |
| 25 years | $9,595 |
Top Solar Installers in Milliken
Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be challenging. Local solar installers can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Milliken
Factors that Affect Solar Panel Costs in Milliken
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Milliken: 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 influences the overall cost of installing solar panels. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Even though solar loans make switching to solar energy more accessible for Milliken homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Milliken are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.14 | $17,385 | $13,238 | 14.2 years |
| 8 kW | $4.06 | $22,734 | $18,097 | 13.9 years |
| 10 kW | $3.98 | $27,860 | $23,178 | 13.6 years |
| 12 kW | $3.90 | $32,763 | $28,482 | 13.4 years |
| 14 kW | $3.82 | $37,444 | $34,010 | 13.1 years |
| 16 kW | $3.74 | $41,901 | $39,760 | 12.8 years |
| 18 kW | $3.66 | $46,136 | $45,733 | 12.6 years |
| 20 kW | $3.58 | $50,148 | $51,928 | 12.3 years |
How to Save on Solar Panels
There are a lot of companies available in Milliken, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you’re worried about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Milliken, CO Solar Cost FAQs
What is the average cost of installing solar panels in Milliken?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $19,900 for a 5-kW system and $39,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Milliken?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
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 buy between 20 and 35 panels to cover 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.