Solar Panel Cost Guide in Milton, VT (2024 Update)
- Milton Solar Installation Cost: $15,413
- 25-Year Savings: $23,133
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Milton
Let’s have a look at the average cost of solar panels in Milton.
The national average cost of solar panels is $2.66 per watt, but in Milton it’s 4 per watt.The average solar panel system size in Milton is around 5.7 kilowatts, meaning a cost of about $15,413 for a solar installation, or $22,041 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Milton homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $23,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Milton
| Year | Return on Investment |
|---|---|
| 1 years | $-14,052 |
| 3 years | $-11,331 |
| 5 years | $-8,609 |
| 7 years | $-5,887 |
| 9 years | $-3,165 |
| 11 years | $-444 |
| 13 years | $2,278 |
| 15 years | $5,000 |
| 17 years | $7,722 |
| 19 years | $10,443 |
| 21 years | $13,165 |
| 23 years | $15,887 |
| 25 years | $18,609 |
Top Solar Installers in Milton
Although it's possible to install solar panels on your own, it takes extra labor and knowledge. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
The cost of installing a solar system in Milton can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of 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’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Milton, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.While solar loans make adopting solar energy more accessible for Milton homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Milton is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different price points.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.00 | $16,817 | $19,506 | 11.6 years |
| 8 kW | $3.93 | $21,991 | $26,439 | 11.4 years |
| 10 kW | $3.85 | $26,950 | $33,588 | 11.1 years |
| 12 kW | $3.77 | $31,693 | $40,953 | 10.9 years |
| 14 kW | $3.70 | $36,221 | $48,533 | 10.7 years |
| 16 kW | $3.62 | $40,533 | $56,328 | 10.5 years |
| 18 kW | $3.54 | $44,629 | $64,339 | 10.2 years |
| 20 kW | $3.47 | $48,510 | $72,566 | 10.0 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: The brand of solar panel you want plays a role in which company you should go with, since different companies have different panels.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $19,250 for a 5-kW system and $38,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Milton?
You can’t get solar panels for free in Milton. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Milton?
Solar panels can be a fruitful investment for a majority 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 electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.