Solar Panel Cost Guide in Milan, OH (2023 Update)
- Milan Solar Installation Cost: $12,458
- 25-Year Savings: $15,164
- Payback Period: 11.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Milan
Let's take a look at the average cost of solar in Milan.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Milan, the average cost of a solar system is 2.56 per watt. Since a 7.0-kW system is needed to cover the energy needs of a typical home in Milan, the average price of going solar will be about $12,454 after claiming the federal solar tax credit of 30%.
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 be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Milan
| Year | Return on Investment |
|---|---|
| 1 years | $-12,366 |
| 3 years | $-12,182 |
| 5 years | $-11,998 |
| 7 years | $-11,814 |
| 9 years | $-11,630 |
| 11 years | $-11,446 |
| 13 years | $-11,261 |
| 15 years | $-11,077 |
| 17 years | $-10,893 |
| 19 years | $-10,709 |
| 21 years | $-10,525 |
| 23 years | $-10,341 |
| 25 years | $-10,156 |
Top Solar Installers in Milan
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be challenging. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you'd like to make the switch to solar but still aren't certain which solar panel company to go with, here are our suggestions for providers nearby:
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 factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Milan, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Milan, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, 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 | $2.66 | $11,182 | $12,657 | 11.7 years |
| 8 kW | $2.61 | $14,623 | $17,163 | 11.5 years |
| 10 kW | $2.56 | $17,920 | $21,812 | 11.3 years |
| 12 kW | $2.51 | $21,074 | $26,604 | 11.1 years |
| 14 kW | $2.46 | $24,084 | $31,540 | 10.8 years |
| 16 kW | $2.41 | $26,952 | $36,619 | 10.6 years |
| 18 kW | $2.36 | $29,676 | $41,841 | 10.4 years |
| 20 kW | $2.30 | $32,256 | $47,207 | 10.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: The type of solar panel you need plays a part in which installer you should opt for, since different companies offer different panels.
- Warranty: If you're concerned about the longevity of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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
How much does it cost to install solar panels in Milan?
The average cost of solar panels in Milan is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type 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 afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Milan is currently $130,340, so you can expect a value of about $5,344 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Milan is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.