Solar Panel Cost Guide in Mill, OH (2023 Update)
- Mill Solar Installation Cost: $13,852
- 25-Year Savings: $19,122
- Payback Period: 10.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mill
See how much it might cost to make the switch to solar in Mill.
The national average cost of solar panels is $2.66 per watt, but in Mill it's 2.56 per watt. The average solar panel system size in Mill is around 7.7 kilowatts, meaning a cost of about $13,852 for a solar installation, or $19,808 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely differ based on your energy needs and what company you want to go with. For most homeowners, the upfront cost of solar power is worth paying. On average Mill homeowners see about $16,000 in savings on utility bills over 20 years.
To get a free quote from a vetted solar installation company in Mill, you can click the button below.
Solar savings over time in Mill
| Year | Return on Investment |
|---|---|
| 1 years | $-12,533 |
| 3 years | $-9,895 |
| 5 years | $-7,257 |
| 7 years | $-4,619 |
| 9 years | $-1,981 |
| 11 years | $657 |
| 13 years | $3,294 |
| 15 years | $5,932 |
| 17 years | $8,570 |
| 19 years | $11,208 |
| 21 years | $13,846 |
| 23 years | $16,484 |
| 25 years | $19,122 |
Top Solar Installers in Mill
Many homeowners opt for a solar panel installer since installing solar panels on your own can be a lot of work. Plus, if you're unsure what kind of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Mill
Factors that Affect Solar Panel Costs in Mill
For many Mill homeowners, the decision to install solar panels depends 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 several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require 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. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Mill, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Mill, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk 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 | $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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Mill, OH Solar Cost FAQs
How much does it cost to install 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.
Can you get solar panels for free in Mill?
You can't get solar panels for free in Mill. However, you may still be able to install 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.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
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 buy 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.