Solar Panel Cost Guide in Milton, MI (2023 Update)
- Milton Solar Installation Cost: $11,795
- 25-Year Savings: $16,867
- Payback Period: 10.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Milton
See how much it might cost to install solar panels in Milton.
The national average cost of solar panels is $2.66 per watt, but in Milton it's 2.81 per watt. The average Milton homeowner needs a 6.0-kilowatt system, which would cost about $11,802 with the federal tax credit, or $16,877 before the 30% tax credit is applied.
These figures are only estimates, and how much solar costs for you may vary based on your energy needs and what company you want to go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar installer in Milton that can help you get a more accurate cost estimate for your home.
Solar savings over time in Milton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,570 |
| 3 years | $-8,121 |
| 5 years | $-5,673 |
| 7 years | $-3,224 |
| 9 years | $-775 |
| 11 years | $1,674 |
| 13 years | $4,123 |
| 15 years | $6,572 |
| 17 years | $9,021 |
| 19 years | $11,469 |
| 21 years | $13,918 |
| 23 years | $16,367 |
| 25 years | $18,816 |
Top Solar Installers in Milton
Although it's possible to install solar panels yourself, it takes extra effort and expertise. For that reason, most people choose to hire a solar panel installer. Plus, if you're unsure what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Milton:
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 Milton
Factors that Affect Solar Panel Costs in Milton
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Milton: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Milton, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Milton offer solar loans, which reduce the initial cost of installing a solar system. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Milton are more knowledgeable 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 end up saving you 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 | $2.92 | $12,274 | $16,405 | 10.7 years |
| 8 kW | $2.87 | $16,051 | $22,188 | 10.5 years |
| 10 kW | $2.81 | $19,670 | $28,129 | 10.3 years |
| 12 kW | $2.75 | $23,132 | $34,227 | 10.1 years |
| 14 kW | $2.70 | $26,436 | $40,482 | 9.9 years |
| 16 kW | $2.64 | $29,584 | $46,895 | 9.7 years |
| 18 kW | $2.59 | $32,574 | $53,465 | 9.5 years |
| 20 kW | $2.53 | $35,406 | $60,192 | 9.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: The model of solar panel you need to install plays a role in which company you should opt for, since different companies provide different panels.
- Warranty: If you care about the durability of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Milton, MI Solar Cost FAQs
What is the average cost of installing solar panels in Milton?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Milton?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.