Solar Panel Cost Guide in Milford, NH (Oct 2022)

  • Milford Solar Installation Cost: $10,083
  • 25-Year Savings: $14,917
  • Payback Period: 10.1 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Milford

Find out how much it might cost to go solar in Milford.

The average cost of solar panels in Milford is $3 per watt. Using this figure, a typical 5.0 would cost about $10,083 before the 30% federal solar tax credit is applied.

These figures are only estimates, and how much solar costs for you may look different based on your energy needs and what company you choose to go with. Despite the large initial cost, the average Milford homeowner can save about $19,000 on their energy bills over 20 years, which is one of the advantages of solar.

You can click the button below to get connected with a top solar company in Milford for a quote for your home.

Solar savings over time in Milford

Year Return on Investment
1 years $-9,083
3 years $-7,083
5 years $-5,083
7 years $-3,083
9 years $-1,083
11 years $917
13 years $2,917
15 years $4,917
17 years $6,917
19 years $8,917
21 years $10,917
23 years $12,917
25 years $14,917

Top Solar Installers in Milford

When going solar, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Plus, if you're unsure what type of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.

Working with a professional solar company can make going solar easier. Here are our recommendations:

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 Technology

The Green Panel

★★★★★
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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Milford

Factors that Affect Solar Panel Costs in Milford

For many Milford homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Milford, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems that have greater efficiency or power production require 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 $2,910. Some solar brands — like Maxeon from SunPower — cost more 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Milford homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Milford is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different costs. 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 $3.03 $12,711 $17,583 10.5 years
8 kW $2.97 $16,622 $23,770 10.3 years
10 kW $2.91 $20,370 $30,120 10.1 years
12 kW $2.85 $23,955 $36,632 9.9 years
14 kW $2.79 $27,377 $43,308 9.7 years
16 kW $2.74 $30,636 $50,147 9.5 years
18 kW $2.68 $33,733 $57,148 9.3 years
20 kW $2.62 $36,666 $64,313 9.1 years

Solar Incentives in Milford

Name Local Option - Property Tax Exemption for Renewable Energy and Electrical Energy Storage
Website Visit here
More Info Click here

Name Residential Small Renewable Energy Rebate Program
Incentive Amount $0.20/watt
Website Visit here
More Info Click here

Name Eversource - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Solar Water Heating Rebates
Website Visit here
More Info Click here

Name Residential Bulk-Fed Wood-Pellet Central Boilers and Furnace Rebate Program
Incentive Amount 40%
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
  • Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should opt for, since different companies offer different panels.
  • Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.

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 Technology

The Green Panel

★★★★★
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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Milford, NH Solar Cost FAQs

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

This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,550 for a 5-kW system and $29,100 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Are solar panels free in Milford?

Solar panels aren't free in Milford, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can solar panels completely eradicate my electricity bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,009.79 per year.

How many solar panels should I get to power 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 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.

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