Solar Panel Cost Guide in Milford, NH (2025 Update)
- Milford Solar Installation Cost: $14,627
- 25-Year Savings: $14,914
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Milford
Find out what the average cost of a solar system is in Milford.
The average cost of a solar panel system in Milford is 4 per watt.Using this figure, a typical 5.0-kW system would cost about $14,627 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Milford depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.But, once you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $19,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar company in Milford for a custom quote.
Solar savings over time in Milford
| Year | Return on Investment |
|---|---|
| 1 years | $-13,220 |
| 3 years | $-10,406 |
| 5 years | $-7,593 |
| 7 years | $-4,779 |
| 9 years | $-1,966 |
| 11 years | $848 |
| 13 years | $3,662 |
| 15 years | $6,475 |
| 17 years | $9,289 |
| 19 years | $12,103 |
| 21 years | $14,916 |
| 23 years | $17,730 |
| 25 years | $20,544 |
Top Solar Installers in Milford
Although it's possible to install solar panels on your own, it requires extra time and knowledge. For that reason, most homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be useful as well, especially if you don’t quite know what kind of solar equipment you need.
If you're looking for a solar company in Milford, we've organized a list of our top suggestions here:
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 largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,220.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Milford, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Milford homeowners decide to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the total 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 principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Milford, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.39 | $18,433 | $11,861 | 15.2 years |
| 8 kW | $4.30 | $24,105 | $16,287 | 14.9 years |
| 10 kW | $4.22 | $29,540 | $20,950 | 14.6 years |
| 12 kW | $4.14 | $34,739 | $25,848 | 14.3 years |
| 14 kW | $4.05 | $39,702 | $30,984 | 14.0 years |
| 16 kW | $3.97 | $44,428 | $36,355 | 13.7 years |
| 18 kW | $3.88 | $48,918 | $41,963 | 13.5 years |
| 20 kW | $3.80 | $53,172 | $47,807 | 13.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you’d like to get plays a role in which installer you should go with, since different companies provide different panels.
EcoWatch's Milford, NH Solar Cost FAQs
How much does it cost to install solar panels in Milford?
The average cost of solar panels in Milford is about $21,100 for a 5-kW system and $42,200 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Milford is currently $443,818, which means you can expect a value of about $18,197 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Milford is a rewarding investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out 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 household 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.