Solar Panel Cost Guide in Milan, OH (2024 Update)
- Milan Solar Installation Cost: $16,595
- 25-Year Savings: $15,164
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Milan
Find out what the average cost of solar panel installation is in Milan.
The average cost of a solar panel system in Milan is 3 per watt.Because a 7.0-kW system is needed to cover the energy usage of a typical home in Milan, the average price of going solar will be about $16,595 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Milan homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $15,000 on power bills over 20 years, many homeowners in Milan find installing solar panels can be quite rewarding.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Milan
| Year | Return on Investment |
|---|---|
| 1 years | $-15,375 |
| 3 years | $-12,934 |
| 5 years | $-10,494 |
| 7 years | $-8,053 |
| 9 years | $-5,613 |
| 11 years | $-3,172 |
| 13 years | $-732 |
| 15 years | $1,708 |
| 17 years | $4,149 |
| 19 years | $6,589 |
| 21 years | $9,030 |
| 23 years | $11,470 |
| 25 years | $13,911 |
Top Solar Installers in Milan
Trying to install solar panels by yourself can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for your family.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Milan
Factors that Affect Solar Panel Costs in Milan
There are many criteria that can play into your solar system 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
When it comes to estimating the price of a solar panel system in Milan, one of the most important 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 determine by looking at past power bills. Your overall cost can increase by about $3,410 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Milan, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your all-in costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Milan, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $8,944 | 15.6 years |
| 8 kW | $3.48 | $19,478 | $12,307 | 15.3 years |
| 10 kW | $3.41 | $23,870 | $15,862 | 15.0 years |
| 12 kW | $3.34 | $28,071 | $19,607 | 14.7 years |
| 14 kW | $3.27 | $32,081 | $23,543 | 14.4 years |
| 16 kW | $3.21 | $35,900 | $27,670 | 14.1 years |
| 18 kW | $3.14 | $39,529 | $31,988 | 13.8 years |
| 20 kW | $3.07 | $42,966 | $36,497 | 13.5 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on 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:
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Milan, OH Solar Cost FAQs
What is the average cost of installing solar panels in Milan?
The average cost of solar panels in Milan is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Milan?
You can’t get solar panels for free in Milan. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Milan?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Milan?
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.