Solar Panel Cost Guide in Milford, OH (Dec 2022)

  • Milford Solar Installation Cost: $13,225
  • 25-Year Savings: $10,964
  • Payback Period: 13.7 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated December 8, 2022

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Average Cost of Solar Panels in Milford

See how much it might cost to install solar panels in Milford.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Milford, the typical cost of solar panels is $3 per watt. Since a 7.4-kW system is needed to cover the energy usage of a typical home in Milford, the average price of going solar will be about $13,225 before claiming the federal solar tax credit of 30%.

Keep in mind that the figures above are only estimates based on the average energy use of Milford 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. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $12,000 over 20 years on utility bills.

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Milford

Year Return on Investment
1 years $-12,257
3 years $-10,322
5 years $-8,387
7 years $-6,452
9 years $-4,517
11 years $-2,582
13 years $-647
15 years $1,288
17 years $3,223
19 years $5,158
21 years $7,093
23 years $9,028
25 years $10,964

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:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

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.

Solar Equipment

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.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Milford, OH Solar Cost FAQs

How much does it cost to install solar panels in Milford?

This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Milford?

Solar panels aren't free in Milford, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

How will solar panels impact my home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Milford is currently $273,227, which means you can look forward to a value of about $11,202 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Milford is a worthwhile investment.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.

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