Solar Panel Cost Guide in Milan, IL (Dec 2022)

  • Milan Solar Installation Cost: $12,326
  • 25-Year Savings: $7,461
  • Payback Period: 15.6 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Milan

Find out what the average cost of a solar system is in Milan.

The national average cost of solar panels is $2.66 per watt, but in Milan it's $3 per watt. The average solar panel system size in Milan is around 6.5 kilowatts, meaning a cost of about $12,326 for a solar installation, or $9,121 after the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Milan homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Milan can save around $12,000 on their electricity bills over 20 years.

To receive a free estimate from a highly rated solar installer in Milan, you can click the button below.

Solar savings over time in Milan

Year Return on Investment
1 years $-11,534
3 years $-9,952
5 years $-8,369
7 years $-6,786
9 years $-5,203
11 years $-3,620
13 years $-2,037
15 years $-454
17 years $1,129
19 years $2,712
21 years $4,295
23 years $5,878
25 years $7,461

Top Solar Installers in Milan

Although you can install solar panels yourself, it requires extra time and know-how. For that reason, the majority of homeowners choose to hire a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and part replacements.

You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

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 Milan

Factors that Affect Solar Panel Costs in Milan

The cost of installing a solar system in Milan can vary by more than $10,000 from home to home. Your actual cost depends on 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

The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose 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

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Milan, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in Milan is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different price points. Additionally, some companies in Milan are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 $2.84 $11,925 $6,471 16.2 years
8 kW $2.78 $15,594 $8,934 15.9 years
10 kW $2.73 $19,110 $11,550 15.6 years
12 kW $2.68 $22,473 $14,318 15.3 years
14 kW $2.62 $25,684 $17,240 15.0 years
16 kW $2.57 $28,741 $20,314 14.6 years
18 kW $2.51 $31,646 $23,541 14.3 years
20 kW $2.46 $34,398 $26,921 14.0 years

How to Save on Solar Panels

There are a large number of companies available in Milan, and some homeowners feel overwhelmed considering their options. Selecting 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 system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which kind 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 peruse their list of options before making your decision.
  • Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
  • Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

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 Milan, IL Solar Cost FAQs

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

The average cost of solar panels in Milan is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to consider when buying solar panels?

The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Does Milan have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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 get 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.

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