Solar Panel Cost Guide in Milford, CT (Oct 2022)

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

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

The average cost of a solar system in Milford 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 around $8,879, or $6,570 after the federal solar tax credit of 30% is applied.

Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. With average savings of about $28,000 on energy bills over 20 years, many homeowners in Milford find going solar has a decent ROI.

You can click the button below to get connected with a pre-vetted solar company in Milford for a quote for your home.

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

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make swapping over to solar power much easier. Plus, if you're not certain what type of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

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

The Green Panel

★★★★★
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

There are several factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment Size

The size of the solar panel system you need is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,800. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Milford average.

Solar Financing Terms

If paying for a solar system in cash is difficult, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over five to seven years on average. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The solar company you select will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.

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

Solar Incentives in Milford

Name Sales and Use Tax Exemption for Solar and Geothermal Systems
Incentive Amount 100% exemption
More Info Click here

Name Residential Solar Investment Program
Website Visit here
More Info Click here

Name Connecticut Green Energy Building Solutions
Incentive Amount
Website Visit here
More Info Click here

Name Smart-E loans
Incentive Amount
Website Visit here
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
Incentive Amount Local Option
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Sales and Use Tax Exemption for Energy-Efficient Products
Incentive Amount 100% exemption
More Info Click here

Name Energy Conservation Loan
Website Visit here
More Info Click here

Name The United Illuminating Company - Small ZREC Tariff
Website Visit here
More Info Click here

Name Eversource - Small ZREC Tariff
Website Visit here
More Info Click here

Name Energy Efficiency Fund (Electric and Gas) - Residential Energy Efficiency Financing
Incentive Amount $25,000
Website Visit here
More Info Click here

Name (Electric and Gas) Residential Rebate Program
Website Visit here
More Info Click here

Name Local Option - Residential Sustainable Energy Program
Incentive Amount Locally determined
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the kind of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.

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

The Green Panel

★★★★★
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?

This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Milford?

Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.

Can solar panels eliminate my energy bills?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Milford, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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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