Solar Panel Cost Guide in Mill, OH (2023 Update)
- Mill Solar Installation Cost: $13,859
- 25-Year Savings: $19,115
- Payback Period: 10.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mill
We go over average solar pricing in Mill.
The national average cost of solar panels is $2.66 per watt, but in Mill it's 2.56 per watt. Using this figure, a typical 7.7-kW system would cost about $13,852 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mill homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on utility bills.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Mill
| Year | Return on Investment |
|---|---|
| 1 years | $-13,749 |
| 3 years | $-13,529 |
| 5 years | $-13,309 |
| 7 years | $-13,089 |
| 9 years | $-12,870 |
| 11 years | $-12,650 |
| 13 years | $-12,430 |
| 15 years | $-12,210 |
| 17 years | $-11,990 |
| 19 years | $-11,771 |
| 21 years | $-11,551 |
| 23 years | $-11,331 |
| 25 years | $-11,111 |
Top Solar Installers in Mill
When switching to solar energy, many homeowners choose to hire a solar installation company since handling can be a difficult project. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Mill
Factors that Affect Solar Panel Costs in Mill
For many Mill homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Mill, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Mill. There are several different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Mill homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can affect your pricing. Mill's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Mill know more about local solar incentives and can help you learn about 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 | $2.66 | $11,182 | $14,400 | 10.9 years |
| 8 kW | $2.61 | $14,623 | $19,487 | 10.7 years |
| 10 kW | $2.56 | $17,920 | $24,717 | 10.5 years |
| 12 kW | $2.51 | $21,074 | $30,090 | 10.3 years |
| 14 kW | $2.46 | $24,084 | $35,607 | 10.1 years |
| 16 kW | $2.41 | $26,952 | $41,267 | 9.9 years |
| 18 kW | $2.36 | $29,676 | $47,071 | 9.7 years |
| 20 kW | $2.30 | $32,256 | $53,017 | 9.5 years |
How to Save on Solar Panels
The solar company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the completion timeline.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Mill, OH Solar Cost FAQs
What is the average cost of installing solar panels in Mill?
The average cost of solar panels in Mill 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Mill, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.