Solar Panel Cost Guide in Milford, PA (2023 Update)
- Milford Solar Installation Cost: $16,360
- 25-Year Savings: $13,725
- Payback Period: 16.1 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Milford
Find out what the average cost of solar panels are in Milford.
The national average cost of solar panels is $2.66 per watt, but in Milford it’s 4 per watt.The average Milford homeowner needs a 6.6-kilowatt system, which would cost about $16,360 with the federal tax credit, or $23,395 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Milford homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Milford find going solar has a decent ROI.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Milford
| Year | Return on Investment |
|---|---|
| 1 years | $-15,066 |
| 3 years | $-12,477 |
| 5 years | $-9,888 |
| 7 years | $-7,300 |
| 9 years | $-4,711 |
| 11 years | $-2,123 |
| 13 years | $466 |
| 15 years | $3,054 |
| 17 years | $5,643 |
| 19 years | $8,232 |
| 21 years | $10,820 |
| 23 years | $13,409 |
| 25 years | $15,997 |
Top Solar Installers in Milford
Trying to put up solar panels by yourself can be a difficult project, which is why getting a solar installer is a good option for many homeowners. Companies can also provide access to quality options of the best solar panels and help you decide which one will be best for your family.
If you're on the hunt for a solar installer in 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 Milford
Factors that Affect Solar Panel Costs in Milford
For many Milford homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Milford, 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 size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,550. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Milford have solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also adds to your overall costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Milford, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.69 | $15,506 | $7,712 | 16.7 years |
| 8 kW | $3.62 | $20,278 | $10,681 | 16.4 years |
| 10 kW | $3.55 | $24,850 | $13,848 | 16.1 years |
| 12 kW | $3.48 | $29,224 | $17,214 | 15.7 years |
| 14 kW | $3.41 | $33,398 | $20,778 | 15.4 years |
| 16 kW | $3.34 | $37,374 | $24,542 | 15.1 years |
| 18 kW | $3.27 | $41,152 | $28,504 | 14.8 years |
| 20 kW | $3.19 | $44,730 | $32,666 | 14.4 years |
How to Save on Solar Panels
There are numerous companies available in Milford, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
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 Milford, PA Solar Cost FAQs
How much does it cost to install solar panels in Milford?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,750 for a 5-kW system and $35,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Milford?
Leasing solar panels can be an appealing 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Milford?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 household 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.