Solar Panel Cost Guide in Milo, NY (2023 Update)
- Milo Solar Installation Cost: $9,549
- 25-Year Savings: $5,251
- Payback Period: 16.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Milo
Find out how much it might cost to go solar in Milo.
The national average cost of solar panels is $2.66 per watt, but in Milo it's 2.95 per watt. Because a 4.6-kW system is needed to cover the energy costs 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%.
Bear in mind that the figures above are only estimates based on the average Milo homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $12,000 over 20 years on utility bills.
For a free 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 | $-8,723 |
| 3 years | $-7,072 |
| 5 years | $-5,420 |
| 7 years | $-3,768 |
| 9 years | $-2,116 |
| 11 years | $-464 |
| 13 years | $1,188 |
| 15 years | $2,839 |
| 17 years | $4,491 |
| 19 years | $6,143 |
| 21 years | $7,795 |
| 23 years | $9,447 |
| 25 years | $11,099 |
Top Solar Installers in Milo
Installing solar panels by yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Some solar companies, particularly local ones, can help you better understand incentives in Milo, optimizing your ROI.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Milo
Factors that Affect Solar Panel Costs in Milo
There are several factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Milo. The brand of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make switching to solar energy more accessible for Milo homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers the products, warranties and services you want and also fits within your budget.
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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- 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 hire.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- 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.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Milo, NY Solar Cost FAQs
What is the average cost of installing solar panels in Milo?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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 house 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.