Solar Panel Cost Guide in Milton, OH (2023 Update)
- Milton Solar Installation Cost: $14,049
- 25-Year Savings: $12,388
- Payback Period: 13.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Milton
Find out how much it might cost to install solar panels in Milton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Milton, the average cost of a solar system is 2.56 per watt. Using this figure, a typical 7.8-kW system would cost about $14,049 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Milton depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Milton can save about $13,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Milton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,992 |
| 3 years | $-10,877 |
| 5 years | $-8,762 |
| 7 years | $-6,647 |
| 9 years | $-4,532 |
| 11 years | $-2,417 |
| 13 years | $-302 |
| 15 years | $1,813 |
| 17 years | $3,928 |
| 19 years | $6,043 |
| 21 years | $8,158 |
| 23 years | $10,273 |
| 25 years | $12,388 |
Top Solar Installers in Milton
When going solar, many homeowners decide to hire a solar company since putting up solar panels yourself can be a challenging project. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for you.
There are a number of 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
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 Milton
Factors that Affect Solar Panel Costs in Milton
There are several factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,560 per kilowatt in Milton. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Milton average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a part in determining your pricing. Milton's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Milton are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $9,038 | 13.8 years |
| 8 kW | $2.61 | $14,623 | $12,337 | 13.6 years |
| 10 kW | $2.56 | $17,920 | $15,780 | 13.3 years |
| 12 kW | $2.51 | $21,074 | $19,366 | 13.0 years |
| 14 kW | $2.46 | $24,084 | $23,095 | 12.8 years |
| 16 kW | $2.41 | $26,952 | $26,968 | 12.5 years |
| 18 kW | $2.36 | $29,676 | $30,984 | 12.2 years |
| 20 kW | $2.30 | $32,256 | $35,144 | 12.0 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
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 Milton, OH Solar Cost FAQs
What is the average cost of installing solar panels in Milton?
This is a hard question to answer exactly, 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Milton?
Solar panels aren't free in Milton, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Milton is currently $136,811, which means you could be looking at a value of about $5,609 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Milton is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.