Solar Panel Cost Guide in Lower Milford, PA (Mar 2023)
- Lower Milford Solar Installation Cost: $11,924
- 25-Year Savings: $13,417
- Payback Period: 11.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lower Milford
We go over average solar pricing in Lower Milford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lower Milford, the typical cost of a solar system is 2.55 per watt. Since a 6.7-kW system is needed to cover the energy usage of a typical home in Lower Milford, the average price of going solar will be about $11,924 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and the cost of going solar for you will differ based on your energy needs and what company you want to go with. For most homeowners, the upfront investment in solar power is worth paying. On average Lower Milford homeowners see about $14,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lower Milford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,910 |
| 3 years | $-8,883 |
| 5 years | $-6,856 |
| 7 years | $-4,828 |
| 9 years | $-2,801 |
| 11 years | $-774 |
| 13 years | $1,253 |
| 15 years | $3,280 |
| 17 years | $5,308 |
| 19 years | $7,335 |
| 21 years | $9,362 |
| 23 years | $11,389 |
| 25 years | $13,417 |
Top Solar Installers in Lower Milford
Although it's possible to install solar panels by yourself, it requires extra labor and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers in Lower Milford:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Lower Milford
Factors that Affect Solar Panel Costs in Lower Milford
For many Lower Milford homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Lower Milford, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lower Milford to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. Though solar loans make switching to solar energy more accessible for Lower Milford homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can play a role in determining how much you pay. Lower Milford's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lower Milford know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2.65 | $11,138 | $11,634 | 12.2 years |
| 8 kW | $2.60 | $14,566 | $15,798 | 12.0 years |
| 10 kW | $2.55 | $17,850 | $20,104 | 11.8 years |
| 12 kW | $2.50 | $20,992 | $24,553 | 11.5 years |
| 14 kW | $2.45 | $23,990 | $29,145 | 11.3 years |
| 16 kW | $2.40 | $26,846 | $33,880 | 11.1 years |
| 18 kW | $2.35 | $29,560 | $38,757 | 10.8 years |
| 20 kW | $2.29 | $32,130 | $43,778 | 10.6 years |
How to Save on Solar Panels
The solar company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although 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.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Lower Milford, PA Solar Cost FAQs
How much does it cost to install solar panels in Lower Milford?
The average cost of solar panels in Lower Milford is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lower Milford?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Lower Milford, that will require at least a 10-kW system. Not all homes will have roofs that 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 long do solar panels last in Lower Milford?
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 amount 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.