Solar Panel Cost Guide in Milford, OH (Jan 2023)
- Milford Solar Installation Cost: $13,225
- 25-Year Savings: $10,964
- Payback Period: 13.7 Years
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Top Solar Installers in Milford
When making the switch to solar, many homeowners opt to hire a solar company since putting up solar panels yourself can be a difficult project. The expertise that solar companies provide can be useful as well, particularly if you aren't sure what brand of solar equipment you need.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Milford
Factors that Affect Solar Panel Costs in Milford
Although the average cost of a solar system in Milford is $13,225, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,560. There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Milford offer solar loans, which reduce your upfront costs of installing solar panels. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Milford, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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||$8,490||14.2 years|
|8 kW||$2.61||$14,623||$11,606||13.9 years|
|10 kW||$2.56||$17,920||$14,866||13.7 years|
|12 kW||$2.51||$21,074||$18,269||13.4 years|
|14 kW||$2.46||$24,084||$21,816||13.1 years|
|16 kW||$2.41||$26,952||$25,506||12.8 years|
|18 kW||$2.36||$29,676||$29,339||12.6 years|
|20 kW||$2.30||$32,256||$33,316||12.3 years|
How to Save on Solar Panels
There are many companies available in Milford, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
EcoWatch's Milford, OH Solar Cost FAQs
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.