Solar Panel Cost Guide in Milford, CT (Feb 2023)

  • Milford Solar Installation Cost: $8,879
  • 25-Year Savings: $24,821
  • Payback Period: 6.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Milford

See how much it might cost to switch to solar power in Milford.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Milford, the average cost of a solar system is $3 per watt. To cover the typical energy usage of the average home in Milford, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $8,879, or $6,570 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what company you go with. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $28,000 in savings on electricity bills over 20 years.

To receive a free quote from a top solar company in Milford, you can click the button below.

Solar savings over time in Milford

Year Return on Investment
1 years $-7,531
3 years $-4,835
5 years $-2,139
7 years $557
9 years $3,253
11 years $5,949
13 years $8,645
15 years $11,341
17 years $14,037
19 years $16,733
21 years $19,429
23 years $22,125
25 years $24,821

Top Solar Installers in Milford

Installing solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.

If you'd like to go solar but still aren't sure which solar system installer to go with, here are our suggestions for providers in Milford:

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Milford

Factors that Affect Solar Panel Costs in Milford

The cost of installing a solar system in Milford can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,800 per kilowatt in Milford. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Milford average.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Milford homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your total costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

The solar company you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Milford, and each can charge varying amounts 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 want and also fits within 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 $2.91 $12,230 $32,430 6.8 years
8 kW $2.86 $15,994 $43,553 6.7 years
10 kW $2.80 $19,600 $54,834 6.6 years
12 kW $2.74 $23,050 $66,271 6.5 years
14 kW $2.69 $26,342 $77,865 6.3 years
16 kW $2.63 $29,478 $89,616 6.2 years
18 kW $2.58 $32,458 $101,523 6.1 years
20 kW $2.52 $35,280 $113,588 5.9 years

How to Save on Solar Panels

There are many 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: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Milford, CT Solar Cost FAQs

How much does it cost to install solar panels in Milford?

The average cost of solar panels in Milford is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like 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 Milford?

Leasing solar panels can be an appealing choice, as it often 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 maximize your savings.

Do solar panels increase your property value?

Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

How often do you have to replace solar panels?

Though 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 replace them after having them for that long or you can keep using 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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