Solar Panel Cost Guide in Milan, MI (2023 Update)
- Milan Solar Installation Cost: $11,940
- 25-Year Savings: $13,180
- Payback Period: 11.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Milan
Find out what the average cost of solar panels are in Milan.
The national average cost of solar panels is $2.66 per watt, but in Milan it's 2.81 per watt. Using this figure, a typical 6.1-kW system would cost about $11,940 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Milan can save around $16,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Milan
| Year | Return on Investment |
|---|---|
| 1 years | $-10,935 |
| 3 years | $-8,925 |
| 5 years | $-6,916 |
| 7 years | $-4,906 |
| 9 years | $-2,897 |
| 11 years | $-887 |
| 13 years | $1,123 |
| 15 years | $3,132 |
| 17 years | $5,142 |
| 19 years | $7,151 |
| 21 years | $9,161 |
| 23 years | $11,170 |
| 25 years | $13,180 |
Top Solar Installers in Milan
Although you can install solar panels on your own, it takes extra time and expertise. For that reason, most people choose to go with a solar panel installer. The expertise that solar installers offer can be useful as well, particularly if you don't quite know what type of solar equipment you need.
If you're on the hunt for a solar company in Milan, we've organized a list of our top suggestions here:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Milan
Factors that Affect Solar Panel Costs in Milan
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Milan: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,810 per kilowatt in Milan. The solar equipment you choose can increase or decrease your cost 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. On the other hand, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Milan average.
Solar Financing Terms
Many homeowners find the average cost of solar in Milan to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence the cost. Milan's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.92 | $12,274 | $12,567 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $17,071 | 12.1 years |
| 10 kW | $2.81 | $19,670 | $21,732 | 11.9 years |
| 12 kW | $2.75 | $23,132 | $26,551 | 11.6 years |
| 14 kW | $2.70 | $26,436 | $31,526 | 11.4 years |
| 16 kW | $2.64 | $29,584 | $36,660 | 11.2 years |
| 18 kW | $2.59 | $32,574 | $41,950 | 10.9 years |
| 20 kW | $2.53 | $35,406 | $47,398 | 10.7 years |
How to Save on Solar Panels
There are many companies to choose from in Milan, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Read the contract terms thoroughly to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Milan, MI Solar Cost FAQs
How much does it cost to install solar panels in Milan?
The average cost of solar panels in Milan is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model 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?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Milan, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Milan?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had 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.