Solar Panel Cost Guide in Milton, NY (2023 Update)
- Milton Solar Installation Cost: $9,251
- 25-Year Savings: $6,487
- Payback Period: 14.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Milton
Let's take a look at the average cost of solar panels in Milton.
The average cost of solar panels in Milton is 2.95 per watt. Using this figure, a typical 4.5-kW system would cost about $9,251 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Milton homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $13,000 on utility bills over 20 years, many homeowners in Milton find installing solar panels can be quite rewarding.
Click the button below to get connected to a top solar panel company in Milton for a customized quote.
Solar savings over time in Milton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,622 |
| 3 years | $-7,363 |
| 5 years | $-6,104 |
| 7 years | $-4,845 |
| 9 years | $-3,586 |
| 11 years | $-2,326 |
| 13 years | $-1,067 |
| 15 years | $192 |
| 17 years | $1,451 |
| 19 years | $2,710 |
| 21 years | $3,969 |
| 23 years | $5,228 |
| 25 years | $6,487 |
Top Solar Installers in Milton
Installing solar panels by yourself can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. Another benefit of utilizing a solar installer is that they can help you optimize your return of investment by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you're looking for a solar installer in Milton, the EcoWatch team has compiled a list of our top suggestions here:
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 Milton
Factors that Affect Solar Panel Costs in Milton
The cost of installing a solar system in Milton can vary by more than $10,000 from home to home. Your actual cost depends on 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 installer you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,950. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Milton average.
Solar Financing Terms
Many homeowners find the average cost of solar in Milton to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time because of interest. Although solar loans make going solar more accessible for Milton homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Milton, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Milton have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,173 | 15.3 years |
| 8 kW | $3.01 | $16,850 | $11,228 | 15.0 years |
| 10 kW | $2.95 | $20,650 | $14,448 | 14.7 years |
| 12 kW | $2.89 | $24,284 | $17,833 | 14.4 years |
| 14 kW | $2.83 | $27,754 | $21,383 | 14.1 years |
| 16 kW | $2.77 | $31,058 | $25,099 | 13.8 years |
| 18 kW | $2.71 | $34,196 | $28,980 | 13.5 years |
| 20 kW | $2.66 | $37,170 | $33,026 | 13.2 years |
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. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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 kind of solar panel you want to install plays a part in which installer you should choose, since different companies provide different panels.
- Contract: Before signing a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Milton, NY Solar Cost FAQs
What is the average cost of installing solar panels in Milton?
This is a difficult question to answer precisely, because the cost depends on a few different 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 cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
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 $701.96 per year.
How long do solar panels last in Milton?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.