Solar Panel Cost Guide in Milton, VT (Mar 2023)
- Milton Solar Installation Cost: $11,491
- 25-Year Savings: $23,132
- Payback Period: 8.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Milton
Let's have a look at the average cost of solar in Milton.
The average cost of solar panels in Milton is 2.87 per watt. To cover the typical energy usage of the average home in Milton, most homeowners require a 5.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,491, or $16,432 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Milton 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. Many homeowners find going solar is a sound investment. The average homeowner in Milton can save about $23,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Milton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,107 |
| 3 years | $-7,337 |
| 5 years | $-4,567 |
| 7 years | $-1,797 |
| 9 years | $973 |
| 11 years | $3,743 |
| 13 years | $6,513 |
| 15 years | $9,282 |
| 17 years | $12,052 |
| 19 years | $14,822 |
| 21 years | $17,592 |
| 23 years | $20,362 |
| 25 years | $23,132 |
Top Solar Installers in Milton
Many homeowners opt for a solar panel installer since installing solar panels by yourself can be a lot of work. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're on the hunt for a solar company in Milton, the EcoWatch team has organized a list of our top suggestions here:
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 Milton
Factors that Affect Solar Panel Costs in Milton
While the average cost of a solar system in Milton is $11,491, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation 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 $2,870. The type of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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 into a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Milton offer solar loans, which reduce the initial cost of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Milton is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that provide a range of services at different price points. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.98 | $12,536 | $23,787 | 8.6 years |
| 8 kW | $2.93 | $16,393 | $32,037 | 8.5 years |
| 10 kW | $2.87 | $20,090 | $40,448 | 8.3 years |
| 12 kW | $2.81 | $23,626 | $49,020 | 8.1 years |
| 14 kW | $2.76 | $27,001 | $57,752 | 8.0 years |
| 16 kW | $2.70 | $30,215 | $66,646 | 7.8 years |
| 18 kW | $2.64 | $33,269 | $75,700 | 7.6 years |
| 20 kW | $2.58 | $36,162 | $84,914 | 7.5 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- 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 large role in the company you go with.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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 Milton, VT Solar Cost FAQs
How much does it cost to install solar panels in Milton?
The average cost of solar panels in Milton is about $14,350 for a 5-kW system and $28,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Does Milton have a net metering program?
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 offer you credit toward your future utility bills.
How often do you have to replace solar panels?
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 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.