Solar Panel Cost Guide in Milan, TN (2024 Update)
- Milan Solar Installation Cost: $19,640
- 25-Year Savings: $13,286
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Milan
Find out what the average cost of solar panels are in Milan.
In Milan, solar panels cost about 4 per watt on average.Using this figure, a typical 7.8-kW system would cost about $19,640 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more.Despite the large upfront cost, the average Milan homeowner can save about $14,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar company in Milan that can help you get a more accurate cost estimate for your home.
Solar savings over time in Milan
| Year | Return on Investment |
|---|---|
| 1 years | $-18,152 |
| 3 years | $-15,177 |
| 5 years | $-12,201 |
| 7 years | $-9,225 |
| 9 years | $-6,249 |
| 11 years | $-3,273 |
| 13 years | $-297 |
| 15 years | $2,678 |
| 17 years | $5,654 |
| 19 years | $8,630 |
| 21 years | $11,606 |
| 23 years | $14,582 |
| 25 years | $17,557 |
Top Solar Installers in Milan
Many homeowners choose to use a solar panel installer since trying to install solar panels by yourself can be time-consuming. The expertise that solar installers offer can be helpful as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Milan
Factors that Affect Solar Panel Costs in Milan
For many Milan homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Milan, 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 energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,580. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just 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 Milan offer solar loans, which reduce your upfront costs of installing a solar system.Although solar loans make adopting solar energy more accessible for Milan homeowners, they can also increase 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
The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies in Milan, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.72 | $15,637 | $4,991 | 19.0 years |
| 8 kW | $3.65 | $20,449 | $7,056 | 18.6 years |
| 10 kW | $3.58 | $25,060 | $9,322 | 18.2 years |
| 12 kW | $3.51 | $29,471 | $11,787 | 17.9 years |
| 14 kW | $3.44 | $33,681 | $14,453 | 17.5 years |
| 16 kW | $3.37 | $37,690 | $17,320 | 17.1 years |
| 18 kW | $3.29 | $41,499 | $20,387 | 16.8 years |
| 20 kW | $3.22 | $45,108 | $23,655 | 16.4 years |
How to Save on Solar Panels
There are many companies available in Milan, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you care about the durability of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, completion timeline rebates and warranties.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Milan, TN Solar Cost FAQs
How much does it cost to install solar panels in Milan?
The average cost of solar panels in Milan is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the actual cost will depend on things like the model 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 Milan?
Leasing solar panels can be an appealing choice, because it commonly 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.
Is it worth going solar in Milan?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, solar panels can last 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 larger level 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.