Solar Panel Cost Guide in Milo, NY (2024 Update)
- Milo Solar Installation Cost: $11,815
- 25-Year Savings: $5,251
- Payback Period: 20.0 Years
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Average Cost of Solar Panels in Milo
See how much it might cost to switch to solar power in Milo.
The average cost of solar panels in Milo is 4 per watt.The average Milo homeowner needs a 4.6-kilowatt system, which would cost about $11,815 with the federal tax credit, or $16,895 before the 0 tax credit is applied.
These figures are just averages, and your own solar costs will most likely differ based on factors unique to your home and what company you want to go with.With average savings of about $12,000 on power bills over 20 years, many homeowners in Milo find investing in solar can be quite rewarding.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Milo
| Year | Return on Investment |
|---|---|
| 1 years | $-10,989 |
| 3 years | $-9,338 |
| 5 years | $-7,686 |
| 7 years | $-6,034 |
| 9 years | $-4,382 |
| 11 years | $-2,730 |
| 13 years | $-1,078 |
| 15 years | $573 |
| 17 years | $2,225 |
| 19 years | $3,877 |
| 21 years | $5,529 |
| 23 years | $7,181 |
| 25 years | $8,833 |
Top Solar Installers in Milo
Although it's possible to install solar panels on your own, it requires extra time and knowledge. For that reason, most homeowners choose a solar panel installer. Plus, if you aren’t sure what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Milo
Factors that Affect Solar Panel Costs in Milo
For many Milo homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Milo, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Milo, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Milo homeowners choose to finance their solar panel systems to offset upfront costs.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Milo, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $3,259 | 20.8 years |
| 8 kW | $3.72 | $20,849 | $4,754 | 20.4 years |
| 10 kW | $3.65 | $25,550 | $6,454 | 20.0 years |
| 12 kW | $3.58 | $30,047 | $8,358 | 19.6 years |
| 14 kW | $3.50 | $34,339 | $10,466 | 19.2 years |
| 16 kW | $3.43 | $38,427 | $12,779 | 18.8 years |
| 18 kW | $3.36 | $42,311 | $15,296 | 18.4 years |
| 20 kW | $3.29 | $45,990 | $18,018 | 18.0 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your total 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 keep in mind, such as:
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Milo, NY Solar Cost FAQs
What is the average cost of installing solar panels in Milo?
The average cost of solar panels in Milo is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Milo?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your 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 Milo is currently $298,635, which means you can expect a value of about $12,244 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Milo is a fruitful investment.
How long do solar panels last in Milo?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.