Solar Panel Cost Guide in Millsboro, DE (2024 Update)
- Millsboro Solar Installation Cost: $13,911
- 25-Year Savings: $15,100
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Millsboro
Find out what the average cost of solar panels are in Millsboro.
In Millsboro, solar panels cost about 3 per watt on average.The average solar panel system size in Millsboro is around 6.4 kilowatts, meaning a cost of about $13,911 for a solar installation, or $19,893 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Millsboro
| Year | Return on Investment |
|---|---|
| 1 years | $-12,510 |
| 3 years | $-9,708 |
| 5 years | $-6,906 |
| 7 years | $-4,104 |
| 9 years | $-1,302 |
| 11 years | $1,500 |
| 13 years | $4,302 |
| 15 years | $7,104 |
| 17 years | $9,907 |
| 19 years | $12,709 |
| 21 years | $15,511 |
| 23 years | $18,313 |
| 25 years | $21,115 |
Top Solar Installers in Millsboro
Installing solar panels by yourself can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. The payback period on a solar system will vary depending on factors like your location and energy usage, but going with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you're searching for a solar installer in Millsboro, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
Best Technology
Tesla Energy
- 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 Millsboro
Factors that Affect Solar Panel Costs in Millsboro
The cost of installing a solar system in Millsboro can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Millsboro, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by around $3,090 for each additional kilowatt you need.The kind of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond 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 researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Millsboro homeowners opt to finance their solar panel systems to make going solar more affordable.It’s a good idea 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Millsboro is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Millsboro have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.21 | $13,497 | $11,425 | 13.5 years |
| 8 kW | $3.15 | $17,650 | $15,580 | 13.3 years |
| 10 kW | $3.09 | $21,630 | $19,908 | 13.0 years |
| 12 kW | $3.03 | $25,437 | $24,408 | 12.8 years |
| 14 kW | $2.97 | $29,071 | $29,082 | 12.5 years |
| 16 kW | $2.90 | $32,532 | $33,929 | 12.2 years |
| 18 kW | $2.84 | $35,819 | $38,948 | 12.0 years |
| 20 kW | $2.78 | $38,934 | $44,141 | 11.7 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: If you’re worried about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
Best Technology
Tesla Energy
- 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 Millsboro, DE Solar Cost FAQs
How much does it cost to install solar panels in Millsboro?
The average cost of solar panels in Millsboro is about $15,450 for a 5-kW system and $30,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Millsboro?
You can’t get solar panels for free in Millsboro. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Millsboro?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
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 decide to 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.