Solar Panel Cost Guide in Milton, WI (Mar 2023)
- Milton Solar Installation Cost: $13,177
- 25-Year Savings: $24,148
- Payback Period: 8.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Milton
Here's how much it might cost to make the switch to solar in Milton.
The national average cost of solar panels is $2.66 per watt, but in Milton it's 2.6 per watt. Using this figure, a typical 7.2-kW system would cost about $13,177 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may look different based on your energy needs and what company you want to go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Milton can save around $20,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Milton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,684 |
| 3 years | $-8,698 |
| 5 years | $-5,712 |
| 7 years | $-2,726 |
| 9 years | $260 |
| 11 years | $3,246 |
| 13 years | $6,232 |
| 15 years | $9,218 |
| 17 years | $12,204 |
| 19 years | $15,190 |
| 21 years | $18,176 |
| 23 years | $21,162 |
| 25 years | $24,148 |
Top Solar Installers in Milton
Although it's possible to install solar panels on your own, it takes extra energy and expertise. Because of that, almost all homeowners choose a solar panel installer. Some solar installers, particularly local ones, can help you take advantage of incentives in Milton, thereby optimizing your ROI.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
For many Milton homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Milton, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Milton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,600 for each additional kilowatt you need. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Milton to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. Even though 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 avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Milton have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $2.70 | $11,357 | $19,558 | 9.2 years |
| 8 kW | $2.65 | $14,851 | $26,369 | 9.0 years |
| 10 kW | $2.60 | $18,200 | $33,325 | 8.8 years |
| 12 kW | $2.55 | $21,403 | $40,427 | 8.7 years |
| 14 kW | $2.50 | $24,461 | $47,675 | 8.5 years |
| 16 kW | $2.44 | $27,373 | $55,068 | 8.3 years |
| 18 kW | $2.39 | $30,139 | $62,607 | 8.1 years |
| 20 kW | $2.34 | $32,760 | $70,291 | 7.9 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Companies that have been in business for many years 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 support, such as part repairs and replacements.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a quality company.
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, WI Solar Cost FAQs
What is the average cost of installing solar panels in Milton?
The average cost of solar panels in Milton is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Milton?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is going solar worth it?
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 many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.