Solar Panel Cost Guide in Lower Milford, PA (2023 Update)
- Lower Milford Solar Installation Cost: $11,918
- 25-Year Savings: $13,423
- Payback Period: 11.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lower Milford
Let's take a look at the average cost of solar panels in Lower Milford.
In Lower Milford, solar panels cost about 2.55 per watt on average. The average Lower Milford homeowner needs a 6.7-kilowatt system, which would cost about $11,924 with the federal tax credit, or $17,051 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Lower Milford can save around $14,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lower Milford
| Year | Return on Investment |
|---|---|
| 1 years | $-11,833 |
| 3 years | $-11,664 |
| 5 years | $-11,495 |
| 7 years | $-11,326 |
| 9 years | $-11,157 |
| 11 years | $-10,989 |
| 13 years | $-10,820 |
| 15 years | $-10,651 |
| 17 years | $-10,482 |
| 19 years | $-10,313 |
| 21 years | $-10,144 |
| 23 years | $-9,975 |
| 25 years | $-9,806 |
Top Solar Installers in Lower Milford
Many homeowners opt for a solar panel company since installing solar panels by yourself can be a labor-intensive endeavor. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're looking for a solar installer in Lower Milford, we've put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Lower Milford
Factors that Affect Solar Panel Costs in Lower Milford
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Lower Milford: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,550. The brand of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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 looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Lower Milford, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your total costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Lower Milford is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that provide a range of services for different budgets. Additionally, some companies in Lower Milford 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 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
Since the brand of solar panels and the installation company you choose significantly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When looking through 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 component breaking or if the company goes out of business.
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project completion timeline.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- 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 substantial role in the company you hire.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind 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.
Can you sell solar power back to the grid in Lower Milford?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
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 generally 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.