Solar Panel Cost Guide in Milo, NY (Mar 2023)
- Milo Solar Installation Cost: $9,540
- 25-Year Savings: $5,260
- Payback Period: 16.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Milo
Here's how much it might cost to switch to solar power in Milo.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Milo, the typical cost of solar panels is 2.95 per watt. Since a 4.6-kW system is needed to cover the energy needs of a typical home in Milo, the average price of going solar will be about $9,540 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what company you go with. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $12,000 over 20 years on energy bills.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Milo
| Year | Return on Investment |
|---|---|
| 1 years | $-8,948 |
| 3 years | $-7,764 |
| 5 years | $-6,580 |
| 7 years | $-5,396 |
| 9 years | $-4,212 |
| 11 years | $-3,028 |
| 13 years | $-1,844 |
| 15 years | $-660 |
| 17 years | $524 |
| 19 years | $1,708 |
| 21 years | $2,892 |
| 23 years | $4,076 |
| 25 years | $5,260 |
Top Solar Installers in Milo
When switching to solar energy, many homeowners decide to go with a solar installer since overseeing your solar installation yourself can be a difficult project. The payback period of solar panels will vary depending on factors like your location and energy usage, but working with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are several licensed solar professionals that can take care of your solar installation project. 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 Technology
Tesla Energy
- 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
See all of the solar companies in Milo
Factors that Affect Solar Panel Costs in Milo
The cost of installing a solar system in Milo can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
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 Milo homeowners choose to finance their solar panel systems to make going solar more affordable. It's wise to add 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the growing popularity of clean energy solutions in Milo, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk 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 | $3.07 | $12,886 | $6,317 | 16.8 years |
| 8 kW | $3.01 | $16,850 | $8,753 | 16.5 years |
| 10 kW | $2.95 | $20,650 | $11,354 | 16.1 years |
| 12 kW | $2.89 | $24,284 | $14,120 | 15.8 years |
| 14 kW | $2.83 | $27,754 | $17,052 | 15.5 years |
| 16 kW | $2.77 | $31,058 | $20,149 | 15.2 years |
| 18 kW | $2.71 | $34,196 | $23,411 | 14.8 years |
| 20 kW | $2.66 | $37,170 | $26,838 | 14.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose considerably impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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
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 $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type 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 goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Milo, that will require at least a 10-kW system. Not all homes 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 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 larger 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.