Solar Panel Cost Guide in Milford, MA (2024 Update)
- Milford Solar Installation Cost: $12,726
- 25-Year Savings: $16,799
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Milford
We go over average solar pricing in Milford.
While the national average of solar panels is $2.66 per watt, solar panels in Milford typically cost around 4.The average Milford homeowner needs a 4.5-kilowatt system, which would cost about $12,726 with the federal tax credit, or $18,198 before the 0 tax credit is applied.
How much you pay can be higher or lower than the average in Milford based on a few factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $22,000 over 20 years on power bills.
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 | $-11,002 |
| 3 years | $-7,556 |
| 5 years | $-4,109 |
| 7 years | $-662 |
| 9 years | $2,785 |
| 11 years | $6,232 |
| 13 years | $9,679 |
| 15 years | $13,126 |
| 17 years | $16,572 |
| 19 years | $20,019 |
| 21 years | $23,466 |
| 23 years | $26,913 |
| 25 years | $30,360 |
Top Solar Installers in Milford
Many homeowners opt for a solar installation company since figuring out how to install solar panels on your own can be challenging. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Milford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Milford average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Milford, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Milford is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services for different budgets.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $17,123 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,285 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,675 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,292 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,136 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,208 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,507 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $65,033 | 11.0 years |
How to Save on Solar Panels
The solar panel company you opt for will affect 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 some important things you should take into account, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two 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 previous customers.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Milford, MA Solar Cost FAQs
What is the average cost of installing 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 $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 get between 20 and 35 panels to account for 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.